The government’s “rescue du jour” prevented the near-failure of insurance giant AIG, said The Philadelphia Inquirer in an editorial, but watching the feds “scramble from forest fire to fire” is scaring investors and consumers. A “more systematic solution,” such as creating an agency to buy and resell troubled mortgage assets, would do more to stave off panic.
Bailing out one company after another will only work “until Washington runs out of cash,” said The Washington Post in an editorial. The key to restoring order is devising a “more predictable and transparent” way to handle Wall Street’s meltdown, “along with new rules to help prevent a repeat performance in the future.”
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
July 16 editorial cartoonsCartoons Wednesday’s political cartoons include the Epstein files landing on everyone's summer reading list, and the relationship between Donald Trump and Vladimir Putin
-
Viktor Orban: is time up for Europe's longest-serving premier?Today's Big Question Hungarian PM's power is under threat 'but not in the way – or from the people – one might expect'
-
Operation Rubific: the government's secret Afghan relocation schemeThe Explainer Massive data leak a 'national embarrassment' that has ended up costing taxpayer billions
