Who the hell do these people think they are? Banks? Car makers?

Bailout-mania is gathering momentum. Now the New York Times reports that the steel industry is lining up for its share, mostly in the form of Barack Obama's stimulus package which they hope will be worth $1 trillion over two years. Then, Reuters reports that newspapers are looking for government handouts. And let's not forget the housing market.

There are two ways of looking at this. One view is that the bailout props up industries and gets them through difficult times. But the big concern is that politicians might not know when to stop. And businesses might come to see the rescue packages as a way of "fixing" corporate practices. And if that were to happen, it would raise a moral hazard effect. Unless those corporate practices and strategies are sorted out, the bailout would do nothing but encourage inefficient or risky business practices.