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Politics : A US National Health Care System?
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To: John Koligman who wrote (3925)1/16/2008 4:53:31 PM
From: TimF  Read Replies (1) of 42652
 
The company made bad business decisions and went down (technically it never ceased operating but its going to lose its status as an independent company and even before that it lost a ton of money).

That a feature in the free market economy not a bug. Make horrendous business decisions and you lose money hand over fist, and risk going out of business.

If similar bad decisions where made in the public sector, but the policies where reasonably popular for some political reason, they can continue on and on.

Also this really was not a case of "free market failure". The government encouraged, even pushed loans to lower qualified applicants (sometimes with threat of lawsuits if the loans where not "fair" enough in the minds of government officials, or certain private groups), and the government also pushed the money supplier higher and interest rates lower, and took other actions to cause this bubble like situation.
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