Certainly you are correct: it is a PR mess, no matter how smart an economic decision it is. And the average person doesn’t have the mental capacity to see how and why it makes sense. They just compare it to their dead-end lives and get alienated.
As a culture we could bypass all this nonsense by just not authorizing any bailouts!
On that we agree completely. These bailouts are ruinous, and the more I read on FRee Republic the more convinced I am of this fact.
Have you seen Obama’s take on the Citi jet? You’ll find it here:
http://www.freerepublic.com/focus/f-news/2172651/posts
Tabernac! What a disaster! I cannot see a clean way for Citi to climb out of this with their aeroplane intact. I can’t even see a clean way out of it if they capitulate and decide to cancel the purchase.
Reputational Risk is a b!tch, ay.