Word: bailouts
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Koizumi also said he was concerned that federal support for research could be cut depending on how the proposed bailout package is financed. “Of course, if they are making spending cuts, federal funding for research and higher education could be cut in the new year,” he said...
Just as the House of Representatives was split on the wisdom of the $700 billion bailout bill, so too are Harvard’s economists, who have left their Ivory Tower perches to weigh in on a plan that would mark an unprecedented government intervention in the financial sector...
...while the bailout bill was voted down in the House on Monday, many of the University’s economists predict it will eventually succeed in some form, whether or not they think it’s a good thing...
Economics professor Jeffrey A. Miron is one of the strongest opponents of the bill—an article of his entitled “Bankruptcy, not bailout, is the right answer,” was posted on CNN.com Monday—and his free-market advocacy has attracted national attention...
...article, Miron argued that troubled financial institutions should be allowed to fail in order to protect the American taxpayer from the liability inherent in buying troubled securities, as the bailout bill proposes...