Prof. Richard Posner, who typically take a pretty laissez-faire attitude toward policy questions du jour (though perhaps less so than his co-blogger Gary Becker) had this to say on their most recent posts regarding the potential auto bailout:
"The major problems with allowing the automakers to be forced into bankruptcy within the next few months are three, all arising from the depression that the nation appears to be rapidly sinking into."
The bolding is my own, but to hear someone like Posner all but say that he thinks we are heading for a depression, and that we need to bail out the auto industry, is a bit striking. I do think he's in the minority on that point.
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