MARK'S WORLD
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motopoet - > MARK'S WORLD -> My butt is too big, but nobody is bailing IT out!
My butt is too big, but nobody is bailing IT out!

Chrysler in the seventies, the S&L's in the eighties and now Freddie, Fannie and possibly the Big Three and American Airlines. I'm speaking of bailouts. The excuse? They're too big to be allowed to fail. What about letting them fail and allowing those interested in rebuilding the markets in a way that won't wipe out the economy all at once? Maybe smaller companies could better manage things as they tend to be more accountable in these matters. Hey, I'm no economist or even a businessman, but I can't help wonder how they were allowed to become so large that it was obvious that their possible failure would have devestating economic repercussions that would, once again, overburden the taxpayer.

Chrysler re-paid it's debt to America, but it is unlikely that will happen by any of the bloated entities calling for todays economic cavalry given the problems in todays economy. It seems as we have no choice but to either give them the money or nationalize them, neither of which I agree with, but hey, I just work for the railroad. In the former case the taxpayer loses, in the latter, society loses.

I hate the idea of telling a company how to do business, but there comes a time when we need to ask ourselves "When is too big going to cost us too much"?

Posted in these Groups:
Topics: economy, News
posted by motopoet on Tuesday, September 16, 2008 at 04:56 PM
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11 comments from 7 users

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posted by randomfactor on Sep 16, 2008 at 05:10 PM

Chrysler did ineed pay us back.  Of course, *THAT* deal was orchestrated by Democrats.

But cheer up...step one to Universal Health Care has been accomplished.

We all now own an insurance company.  

Step two:  Everyone signs up.

Step three:  No bailouts for BlueKaiser. 

posted by motopoet on Sep 16, 2008 at 05:19 PM

Actually..that deal was orchistrated by Lee Iacocca..And he CANT be a democrat because he is wealthy

posted by randomfactor on Sep 16, 2008 at 05:25 PM

Am I the only guy in this country who’s fed up with what’s happening? Where the hell is our outrage? We should be screaming bloody murder. We’ve got a gang of clueless bozos steering our ship of state right over a cliff, we’ve got corporate gangsters stealing us blind, and we can’t even clean up after a hurricane much less build a hybrid car. But instead of getting mad, everyone sits around and nods their heads when the politicians say, “Stay the course.”

Why are we in this mess? How did we end up with this crowd in Washington? Well, we voted for them-or at least some of us did. But I’ll tell you what we didn’t do. We didn’t agree to suspend the Constitution. We didn’t agree to stop asking questions or demanding answers. Some of us are sick and tired of people who call free speech treason. Where I come from that’s a dictatorship, not a democracy.

Lee Iacocca,  Where have all the Leaders Gone

posted by AudreyB on Sep 16, 2008 at 05:28 PM

Mark

No one bails out or subsidizes the working man when things go bad.  Unless you call unemployment insurance and disability insurance "bailing out". 

posted by randomfactor on Sep 16, 2008 at 05:31 PM

I've heard them called worse, Audrey. 

posted by HusbandMaterial on Sep 16, 2008 at 05:37 PM

Moto, you bail out is waiting at 24 Hour Fitness. Stair stepper, third one on the left after you enter the gym.

posted by CatherineBaker on Sep 16, 2008 at 07:00 PM

And now AIG.  Unbelievable.  Someone on PBS yesterday said that, with these big corporations, the PROFITS are privatized and the BAIL-OUTS are socialized.  In other words, we taxpayers never see any money from the profits, but you can bet we'll PAY when they need us. 

posted by mattloch on Sep 16, 2008 at 07:19 PM

How about we nationalize the car companies when they go under? Then we can have the cars that we want, and not the ones Detroit picks for us. Plus, as Random points out, we'll have many more people with nationalized health care (since that is the primary reason they're going under, other than just lousy business sense).

posted by motopoet on Sep 17, 2008 at 07:23 AM

Gee RF. Were I not pissed I wouldn't have written these. I just have a different opinion of how and why it is happening and what the plan is to deal with it.

posted by randomfactor on Sep 17, 2008 at 07:53 AM

Mark, if you're considering voting for McBush, you aren't even mildly irked yet.

posted by antiextremism on Sep 17, 2008 at 07:57 AM

Actually, it was because these bailout measures weren't in place in '29 that we crashed.

The Feds are the last line of defense against another depression. And there will be loan shark type interest rates in place.

Bailing out may be a necessary thing right now, but how did we get in this mess in the first place? Surely not because of deregulation. Regulations are just commy government intrusion and anti-capitalistic right? Well no, it's called lawlessness. I find it amusing when the Government is accused of tampering by keeping banks honest, but listening in on your phone conversation without due cause is not.

The thing that pisses me off is that each and every one of the CEOs and upper management criminals will retire with nice healthy incomes, while stockholders take it in the shorts.

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