GM bailout fuels fears of Europeanization

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Nevertheless, the government’s large stake in some of the most troubled companies in the U.S. economy is unprecedented, including 80 percent of the global insurance giant AIG and home mortgage goliaths Fannie Mae and Freddie Mac, and 35 percent of GMAC, and critics fear they will be complicated by political considerations.

“I am quite concerned about the large government stakes in U.S. firms. Unwinding these stakes and avoiding temptation toward political interference will be difficult. In the case of the auto industry, more troubling is the bullying treatment of creditors,” said R. Glenn Hubbard, former chairman of the White House Council of Economic Advisers and now dean of Columbia Business School.

About the Author
Donald Lambro

Donald Lambro

Donald Lambro is the chief political correspondent for The Washington Times, the author of five books and a nationally syndicated columnist. His twice-weekly United Feature Syndicate column appears in newspapers across the country, including The Washington Times. He received the Warren Brookes Award For Excellence In Journalism in 1995 and in that same year was the host and co-writer of ...

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