No to bail outs, one more voice

Here is another opinion on why govt should stay out of businesses. The conclusion, you dont make it any better by butting in with a wad of cash. Indian govt can learn some lessons here. Its time to let go of public sector and definitely Satyam. Let it be run by its new owner the way they want. Learn to let go and be a watch dog.

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Financial Chicken Soup

Isnt allowing the companies to go bust a better way of handling the sinking ships than pumping in money in the form of intervention? Why convert zombie institutions into living zombies? Are the bailouts a temporary Keynesian itch or a permanent move to socialism?

Speaking of which, will the Satyam episode lead to better bankruptcy laws and restructuring procedures in India? What we did with Satyam needs to be codified and more options for liquidation introduced.

Elizabeth Warren, Leo Gottlieb Professor of Law at Harvard Law School, says Capitalism without bankruptcy is like christianity without hell. Take a listen.

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