Saving banks is part of the problem, not the solution

With the real world economy racking up ever more startling numbers in terms of stock market lows, GDP contraction, unemployment and government deficits, one has to wonder are governments focusing on fighting the right fires

The catalyst for the question is the remarkable comment by German chancellor Angela Merkel, reported on March 12, about bailing out car maker Opel. According to the Associated Press, Merkel stated that the government should only bail out companies 'with a future'. Opel is currently owned by General Motors, but the German unit is looking at ways to regain its freedom, which is why it's seeking government support. Given that Opel is asking for a measly $4.2 billion in state...