Economist: Bankruptcy is better than bailout

[loco]

Story Highlights

Jeffrey Miron: Government encouraged lenders to relax their standards

Mortgages were given to people unqualified to repay them, he says

Miron: Rather than a bailout, government should let firms go bankrupt

Talk of economic Armageddon is scare-mongering, Miron says

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

[headhuntersix]

I read this one too, he may be right. He is certainly right about the first two.