Archive for January, 2011
AT&T announces price cuts for most data customers
Free-market types failed to stop TARP in part because “no” seemed an untenable option to many lawmakers. “We have to do something!” many argued.
In an op-ed in today’s Wall Street Journal, University of Pensylvania professor David Skeel offers an affirmative defense when California, New York, Illinois, or other cash strapped states come knocking for a similar bailout–rather than “no,” offer a federal bankruptcy proceeding for the states.
At a Mercatus Center event last week, Manhattan Institute scholar Steve Malanga argued that the more likely scenario is that cities and municipalities default first, and that states will have to bailout cities. He was less certain about the Constitutionality of a bankruptcy proceeding for states, given sovereign immunity issues.
