Federal Bailouts and Double Standards

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A bailout of the Big Three automakers now seems likely, but why is Detroit being asked for more concessions than Wall Street? We look at the double standard for federal bailouts and ask whether a real industrial policy would make things better or worse. Also, Pakistan has moved against the mastermind of the group that attacked Mumbai, and more trouble for newspapers as the Tribune syndicate declares bankruptcy and the New York Times considers mortgaging its office building.

Banner image: Auto workers and retirees, who are part of a caravan from several Midwest states to Congress, march on Capitol Hill December 8, 2008 in Washington, DC. Photo: Alex Wong/Getty Images