Bailout mania: Fighting bailout mania

If banks can get government capital that costs as little as 5% per annum, why shouldn’t car-makers, retailers, or even struggling media groups? Unlike banks, they weren’t even responsible for the current mess. Why should the prodigal son get the fatted calf while the other children have to make do with scraps? This argument is so seductive that governments across the world will be hard-pressed to resist it. Indeed, one of Barack Obama’s first tasks as president-elect may be to pronounce on wheth...