Rewarding Failure

"Recession has left many of the world's worst-run economies in roughly the same condition as General Motors. Russia is one of them, and the World Bank thinks they're going to need a bailout. Not so fast." Remember not so long ago we were fervently wishing for Russia’s demise? Now they’re suggesting we should reward their failure by “bailing them out.” I think we need to stop bailing everybody who fails out. It’s counterproductive. It sends the message that to fail is okay. The United States is waiting to send you money. So more and more people (and even governments) will line up to prove they’re the most needy. Come to think of it, we’ve been “bailing out” governments for years. They call it “foreign aid.” (IBD Editorials)