News Paper Economic issue Article Example | Topics and Well Written Essays - 500 words

News Paper Economic issue - Article Example While discussing the proposed payments and buying of the assets, the article also deals with how the government would like to have control over the banks at a scale â€Å"not seen since the great depression of the 1930’s†. This is significant as they have been questions over the way the government has been bailing out banks without asking for accountability in return. The article is disapproving of the way in which the government is silent on â€Å"specifics† on how and where the money from the stimulus package is going to be spent. From an economic point of view, the government is well within its rights to print more money and flood the economy with liquidity. However, it would be prudent to consider the inflationary effects of such a move. Further, the direct involvement of the government in the running of the banks may be a welcome sign in these times when reckless corporate greed and unethical behavior have undermined the credibility of financial institutions in the United States. The effect of such governmental intervention may not be exactly in the spirit of laissez faire economics but the current situation is that it would not be a bad idea if the rampant speculation and recklessness are reined in. This paper is in response to the article, â€Å"To Fix Detroit, Obama is said to drop plan for ‘Car Czar’â€Å"that appeared in the New York Times on Feb 15, 2009. The article discusses the cancellation of the appointment of an ombudsman to oversee the restructuring of the Big three automakers: GM, Ford and Chrysler. Instead, the article points out that the president himself would like to oversee the restructuring of the troubled automakers and thus there is no need for a â€Å"Car Czar†. The article is economic in nature as it pertains to the rescue of GM and Chrysler from near bankruptcy and their bailout under a federally guaranteed scheme. The article