Originally Posted by SpringheelJack
Nature abhors nothing more than a vacuum, and capitalism abhors nothing more than a company that should have failed being propped up by government intervention. I'm not naive enough to think that allowing giants like AIG or GM to fail would be anything short of disastrous, but if your company has failed to the extent that it necessitates a government buy out, it should be cannibalized, sliced into parts and sold to the highest bidder, with the removal of all senior executives. If a mighty oak falls, you let it decay back into the forest, you don't get a crane, put it right side up and tend to it for 10 years. There will always be new trees, and they'll grow better without the oak.
Detroit's slow death is a tragic outgrowth of this, but the mid-west is littered with once mighty cities left behind by the death of the railroads and the gold rushes. Just as there will always be a new car company, there will be new cities. If Detroit is going to die out as an American metropolis, it's going to die, and attempting to revitalize it will be a vastly expensive fool's errand. If government money is the only thing to attract new business to Detroit, those businesses will leave for greener pastures once that money is gone and their commitment is up.
Basically, buy American if the company deserves it. If they don't, you're just prolonging their demise.
I had talked about the whole Wall St fiasco in another thread. And you are completely right. I see some of the stuff that goes on there first hand thru some of my friends who work within the financial system, some of what goes on doesn't even get reported now and it's a lot worse off that you think.
I still attribute all this to the 'entitlement' attitude, but I'll say it again and again if I failed at my business and cost a company thousands, tens of, millions, I would be terminated without grievance, not given a bonus to retain me, then flown off to a spa to have a sales meeting in a corporate jet.
Something went horribly wrong and now the 'entitled' are fighting to keep what they think they're due. Short of a baseball bat to the knees I can't imagine what else they need. I hear in the papers 'Oh I went to school' a lot of people do, 'I'm a mover shaker, deal maker' you moved and shook, and your deals failed.
For the government to have bailed out these asses, while I see small neighborhood business fold, just so these people can keep their jobs is criminal. This money was given to the wrong people and you know after all this the car industry still failed, plants closed, and people lost their jobs, from that people will lose their homes, more small businesses will close in the areas and more people will be sucking on the government's tit. Yet the execs have been given golden parachute packages if they lost their jobs or they get to keep them and do the whole bs all over again.
There's a running joke about Bernard Madoff who, in a Ponsi scheme bilked out 20 billion from people and made it disapear. He's being investigated by the federal government, which is funny cause they made $750 billion disapear. And when the American public starts to see that THEY have to pay this back, the real laugh will be on them.
I know that if this will work it will take time, try tell that to the middle class who are now homeless.