"Political Stock Picks" by Richard W. Rahn (Cato Institute: Commentary)

"Political Stock Picks" by Richard W. Rahn (Cato Institute: Commentary): "After frittering away 4 billion 'bailout' taxpayer dollars to 'save the company,' Chrysler just announced it was going into bankruptcy. Not the normal Chapter 11 bankruptcy, but a 'managed bankruptcy' that will require at least another 8 billion in taxpayer dollars, while, at the same time, turning 55 percent of the ownership of the company over to the United Auto Workers (whose contracts and work practices helped destroy Chrysler) and 35 percent of the equity to Fiat motors of Italy (a company that is contributing no cash - hmmm). U.S. and Canadian taxpayers are putting up a lot of cash but only get to share the remaining 10 percent ownership."

"If a business, even after reorganization, will still not be viable without a subsidy, why should a taxpayer get stuck with the tab? After all, there are plenty of competitive, well-managed and solvent banks, insurance companies, auto companies, etc., to pick up the slack for those that are not viable and to provide for consumers' wants, needs and desires."

"Over time, only one of these systems has been compatible with continued economic growth, opportunity and liberty - and that system is capitalism.

Capitalism is a self-correcting economic system and only gets in sustained trouble as a result of faulty government policies, such as excessive or erratic monetary growth, which causes "bubbles"; inflation or deflation; and/or destructive tax, spending or regulatory policies."