Microsoft founder billionaire Bill Gates has slammed governments who consider bailing out their failing industries during the economic crisis.

Gates said that if no one was willing to invest in such companies there is probably a good reason.

Gates was speaking to CNN on the eve of congressional hearings on restructuring plans and requests by Chrysler, Ford and General Motors for a combined 34 billion dollars in government bridge loans to avert a collapse of the sector. He said that investors were seeing something about business models or cost structure that makes them unwilling to risk their money on such companies.

Gates wondered if taxpayer money was going to have any real effect, and suggested that governments should look closely at any company restructuring plans. He said there were few industries that aren't going to suffer during this economic downturn and the government should expect restructuring or change for its tax dollar.

Ideally, Gates said,  people should look at the signs of private investment as part of evaluating whether a company has any value.

Gates recommends more far-reaching economic stimuli that don't undermine the incentive for businesses to be careful about their spending and investments. Money would be better spent on scientific work and educational investments, he concluded. X

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