To the Point
Federal Bailouts and Double Standards
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 bad news for the news business in New York, Chicago and Los Angeles.
By Warren Olney • • 1h 0m ListenA 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
In this episode
3 storiesPakistan Moves against Mumbai Attacker Group
Khalid Sheikh Mohammed, the alleged mastermind of 9/11, reportedly wants to plead guilty. A hearing's being held at Guantánamo Bay. Meantime, it's reported that Pakistan has arrested the mastermind of the recent attacks on Mumbai.
Read the story6 minBailouts, Perferences and Industrial Policy
The White House says if Democrats can get their act together it's "very likely" the Big Three automakers will get massive federal assistance. But auto workers are on a caravan from the Midwest to Washington, complaining they have to make more concessions than Wall Street financiers.
Read the story36 minTribune Declares Bankruptcy; NY Times Borrows against Its Building
The Tribune Company, with major newspapers in Chicago and Los Angeles, has filed for bankruptcy , and the New York Times may have to mortgage its property in New York City. Both actions belie the struggles of an increasingly troubled industry.
Read the story7 min
