Timmy ElsewhereOctober 13, 2008 Tim WorstallTimmy Elsewhere1 Comment(There\’s a lot of that today, isn\’t there?) Speccie. Environmental profit margins and bailing out GM. previousCongratulations Paul Krugman!nextBritblog Roundup 191 1 thought on “Timmy Elsewhere” Matthew October 13, 2008 at 2:40 pm When you say that banks should get taxpayer assistance, you are saying that the banks provide positive externalities which are not captured by the private sector valuation. In the case of GM/Ford, which you correctly say the market values at less than zero, does this valuation include the social benefit of salaries paid to workers, and pensions and healthcare (what you term the legacy costs) paid to former workers? Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.