On Dec 10, 2008, at 6:50 AM, Charles Bennett wrote: > > On Dec 10, 2008, at 6:32 AM, Jared Earle wrote: > >> On 10 Dec 2008, at 11:11, Christian Brunschen wrote: >>> <http://buffalobeast.com/133/bigthree.jpg> >>> >>> // Christian >> >> I'm of the opinion they should have been left to burn. > > Exactly. If they were told "Hell No.." then they would move to plan > B immediately instead of business as usual. >> >> >> You can't scream libertarianism and capitalism day-in, day-out and >> then run to socialism the moment the going gets a little tough. Pick >> one, stick to it. >> > > Roger that. Businesses need to be able to fail. The Capitalist > side of me also thinks they should not be punished when they succeed > either.
The fundamental problem here is the way that logrolling always corrupts representative democracy. After spending so much more to bail out the financial sector which employs far fewer people, produces nothing tangible (and very little of anything at all) and displays contempt for the taxpayer in the form of multimillion dollar bonuses and golden parachutes for executives along with luxury vacations dressed up as conferences, it is hard to stick at bailing out the big three. The sad thing is that the experience of other countries as well as the US experience with the Resolution Trust Corporation showed exactly how the crisis should have been handled. The people in the financial sector that actually perform an essential service for the real economy by making and servicing real estate and small business loans are a relatively small and modestly paid group. The government could have stepped in as each company went under and employed the people in those select departments. After the crisis they could have sold off these departments as much smaller companies. -- Seven Deadly Sins? I thought it was a to-do list! _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
