StudentFirstName StudentLastName Professor FirstName LastName English 1 8 November 2010 Corporate Bailouts The recent economic slowdown has been characterized by the recognition of wholesale failures on the part of major U.S. corporations. Some of these corporations were considered so critical to the economy of the U.S. that the government decided to step in and bail the companies out. These bailouts were conducted under the Troubled Asset Relief Program (TARP). Two major corporations which were highlighted in the bailouts were American International Group (AIG) and General Motors (GM). The AIG bailout was reported to be $40 billion and the GM bailout was reported to be $13.4 billion. However, this bailout was tantamount to government...The end:
.....owing money from the American people and the Chinese government to prop up these bloated corporations which give “golden parachutes” to their executives and fail to show financial responsibility from the onset. The U.S. has built its strengths as a nation, from an economic standpoint, on the stability and fortitude of its corporations. The corporations which are too weak to survive should be allowed to die in peace. At least their passage into history will allow other companies which deserve marketshare to succeed. The government should likely focus on other more pressing issues as there are no lack of such issues. Works Cited "Obama sends jolt beyond carmakers." USA Today (3 Apr. 2009): 9d. Academic Search Premier. EBSCO. Web. 8 Nov. 2010.