Should The U.S. ‘Bail Out’ Venture Capital Firms?
Interesting article by The New York Times columnist and Pulitzer Prize winning author, Thomas Friedman. Friedman’s op-ed piece in the Saturday edition of The New York Times argues against the U.S. Government bailing out General Motors and Chrysler, and suggests that if the Government wants to bail out anyone, it should be venture capital firms. Thomas Friedman says that pouring more money into General Motors and Chrysler is really just bailing out ‘losers’. He says that doing so is not how the U.S. got rich as a country and it’s not how it will get out of the crisis. Giving money to venture capital firms, he suggests, would be much more productive. Friedman writes: “You want to spend $20 billion of taxpayer money creating jobs? Fine. Call up the top 20 venture capital firms in America, which are short of cash today because their partners — university endowments and pension funds — are tapped out, and make them this offer: The U.S. Treasury will give you each up to $1 billion to fund th
