There are bailouts, and there are bailouts

Economist and New York Times columnist Paul Krugman is up in arms about President Obama justifying Wall Street executive salaries by comparing them to baseball player salaries, but he chooses an odd way of making the point:

Again: the president compares Wall Street paychecks to baseball players. That’s really bad messaging: first, baseball players didn’t trigger a global economic collapse, and second, the baseball industry isn’t the beneficiary of a massive and continuing taxpayer bailout…

Um…

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3 comments on “There are bailouts, and there are bailouts

  1. “the baseball industry isn’t the beneficiary of a massive and continuing taxpayer bailout…”

    Oh really?

    Time to bring that macro pic of the white owl out of retirement, sez I.

  2. Sebastian Janakowski, Raider’s placekicker, has just signed a record salary for this position, $16,000,000 over four years.

    I have nothing against this guy, but when this record salary is juxtaposed against what the stadium is costing Oakland’s deficit ridden general fund, then my mind revolts.

    Taxpayers get the privilege of funding stadiums and players get paid millions and owners pocket much, much more.

    No we’re being asked to do the same in Santa Clara. It’s just unbelievable.

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