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Bailout for Detroit? Hold that Tiger!

November 10, 2008

By Jamie Dlugosch, Contributing Editor, InvestorPlace

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Jamie Dlugosch

Jamie Dlugosch

Jamie is the editor of Penny Stock Winners. He has over 20 years of experience in financial markets including investment banking, equity analysis and research and money management. In addition to being the Editor of Penny Stock Winners, he is also a Contributing Editor of InvestorPlace.com and founder and editor of The Rational Investor.

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The nation voted last Tuesday with no less than a dozen or more critical issues to decide before selecting a new leader. Rarely have we as a nation faced a time where the path of history hits the proverbial fork in the road.

Front and center is the fundamental role of government with respect to the economy. What is the role of regulation? What about government intervention in capitalism? Should the country take ownership of critical corporate endeavors?

These are complicated issues no doubt with no easy answers. While the election provides a glimpse into the general direction of the country, many details remain.

It is mind numbing to think about the momentous challenges that need to be addressed with so little time to address them. One moment all is well and the next thing we know Wall Street is collapsing and Congress is passing legislation for a $750 billion economic rescue package.

Free market economy slams head on to the reality of failure. We all love the benefits when the market is functioning well, but what about the consequences. Can you handle the truth?

Seeing what transpired in the banking and financial sector, the auto industry is now stepping up to the feed bag. Since you are already handing out so many gifts, why not throw a bone to us up here in Detroit.

This no 'crying wolf' either. We deserve as much money as you can afford to give. We are in serious trouble here.