Daily Archives: December 12, 2008

John Gapper

I have written a column for the Weekend FT on government bail-outs and industrial policy:

The failure of the Detroit bail-out bill in the Senate was caused by tensions between right and left, Republicans from the south and Democrats from the unionised rust belt, and purists and pragmatists. Above all, however, there is confusion about what governments should do. 

John Gapper

Sony’s PlayStation 3 is not doing very well at all.

Bernard Madoff’s alleged “giant Ponzi scheme”

John Gapper

I think Jim Surowiecki is right that a government attempting to set precise wage levels as part of a rescue package – as the Senate Republicans were trying to do with the ill-fated Detroit bail-out – is less than ideal.

He puts it this way