Was the Bailout a Blunder?

Few recent issues involving American business have stirred more controversy than Congress's decision three years ago to grant federal guarantees on $1.5 billion worth of Chrysler Corp. loans. TIME asked a number of those who opposed the bailout whether, in light of the fact that it helped save Chrysler and its 59,200 jobs in the U.S., they had -changed their minds. None had. The reason, doubtless, is that the issue goes beyond the troubles of a single company and raises fundamental questions about whether the free-enterprise system should be allowed to work. Excerpts:

Milton Friedman, Nobel-prizewinning economist: "Obviously, it's a good thing...

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