Jun 15
The WSJ has an interesting article on what it means to insert the government into decisions that used to be made by the price system. Cabela, the hunting goods store, got TALF money. So now it’s encouraging customers to buy more guns to shoot gophers, etc. Deere bought a bank so it got a government guarantee on $2 billion of its debt. But Caterpillar didn’t own a bank. So its trade group got TALF expanded to include Caterpillar and other equipment makers. Funny how government backing of credit c
