On Dec 12, 2008, at 10:48 PM, CeJ wrote:
If you do not take the companies away from the combined control of
shareholders and top management, you can not nationalize them.
It's sort of like asking for unconditional surrender first.
When the shareholders and top management (banks, auto) can
SM:When the shareholders and top management (banks, auto) can hold on
only at public expense, nationalization is not like asking for
unconditional surrender--it only takes the guts to just say no.
I meant asking for bankruptcy before nationalization was like asking
for unconditional surrender.
I think if nationalization is the inevitable path that is coming for
the government-industry relationship, then better the auto companies
be allowed to go bankrupt first.
CJ
Comment
What is the rationale for bankruptcy as the prelude to nationalization,
rather than simply nationalize
If you do not take the companies away from the combined control of
shareholders and top management, you can not nationalize them.
It's sort of like asking for unconditional surrender first.
CJ
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