|Management of the Financial Meltdown for the people:
President took emergency measures that relieved working and unemployed
Americans, who had very little to do with the crisis. In Michigan, in
particular, by extending unemployment benefits and by bailing out the
failing auto industry, the federal government gave much breathing space
to an unacceptably poorly diversified local economy.
|Management of the Financial Meltdown for the CEOs:
By supporting the bankrupt corporate giants, the government emboldened
the incompetent CEOs and boards to demand more in good times for
successful leadership and shamelessly justify being unreasonably highly compensated in
bad times by playing the "out-of-the-loopness" card, delegating blame
to underlinks... Moreover, a
new era was ushered wherein big capital begets big capital without risk
taking (since government guarantees the losses of investors), which
increases societal divisions and unfairness.