The editorial “Don't bail out” (Nov. 14) rightly highlighted the need
for policy decisions and reform, rather than temporary measures to bail
out capitalists. The statement of Prime Minister Manmohan Singh, who
remains silent on even burning issues, in favour of a bailout for
Kingfisher airlines, is sure to prompt banks to speed up a package. In
this context, the editorial was very timely.
Vijay Mallya has been a prominent face of free enterprise and the
virtues associated with it. With his liquor and airlines clout, he has
promoted himself unabashedly. If he and his style of management have
failed, so be it. Why should the government and banks rush to his
rescue? After all, accountability is also a hallmark of free enterprise.
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