The economic situation...

Governments around the world are responding to the current economic situation by throwing money at large, mostly financial, corporations. Although these governments are acquiring some level of ownership, the stakes are do not seem to be large enough to compensate for the risk that some of these companies will never return to financial health. Shareholders are being protected from the consequences of their inattention to the obligations of ownership and the new owners are neglecting to insist on a wholesale replacement of incompetent management.

The result, which few want to discuss, is that profit remains privatized while risk is socialized.

Before throwing more money around, our leaders may wish to pause and think. As they engage in what may be an unfamiliar activity, they should take note of George Orwell's warning:

"[Our language] becomes ugly and inaccurate because our thoughts are foolish, but the slovenliness of our language makes it easier for us to have foolish thoughts."

While government (i.e. taxpayer's) cash seems to be in plentiful supply, there is a shortage of clear thinking. Both are needed.