A British Lesson on Auto Bailouts
Ainda sobre o mesmo tema um bom exemplo do que se passou com a industria automóvel británica. O ultimo exemplo foi o que aconteceu com a Rover. This is not the story of Ford and General Motors , but British Leyland, a car company that went through £11 billion of inflation-adjusted British taxpayer money, or $16.5 billion, in the ’70s and ’80s before going out of business. All that is left of the company now are memories of cars like the Triumph, and a painful lesson in the limited effectiveness of bailouts. “It’s all too evocative,” said Leon Brittan, a top official in the government of Margaret Thatcher , the free-market-minded prime minister who nevertheless backed the rescue. “I’m not telling the U.S. what to do, but the lessons of the British experience is don’t throw good money after bad. British Leyland carried on for a few more years, but they’re not there now, are they?” Other experts are sounding the same alarm. “The British Leyland experience is a relevant and cautionary on...