Business in America will change forever. Once again greed fosters government inclusion.
This administration is righteously addressing the abuses. You and I can question the details, but they have a right and a duty to prevent this from happening again.
Out comes the big club with which they will perform the delicate surgery of balancing greed and abuse.
Location: On an Island in the west coast of New England
Posts: 13,133
RE: Hi, I'm your Big Brother. Can I come in?
We are heading in a direction. The government now pretty much owns the banks, the insurance companies and now the car companies. Let some of the hospitals start to go belly up and they will be in the health business as well. Finance, housing, transportation and health.......sounds like Socialism to mewhich isgrass roots Communism. I guess that is why China wants to do business with us. They aren"™t coming to us we are going to them. I guess Obama was right"¦he will bring change.
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Too busy with fishing to spend much time here.
What are the people who didn't vote for him getting ?
Screwed...[:@]
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I love Christmas lights. They remind me of the people who voted for Obama. They all hang together; half of them don't work, and the ones that do, aren't that bright.
For those who understand, no explanation is needed. For those who do
not understand, no explanation is possible.
A golf course is a willful and deliberate misuse of a perfectly good rifle range.
We are heading in a direction. The government now pretty much owns the banks, the insurance companies and now the car companies. Let some of the hospitals start to go belly up and they will be in the health business as well. Finance, housing, transportation and health.......sounds like Socialism to mewhich isgrass roots Communism. I guess that is why China wants to do business with us. They aren"™t coming to us we are going to them. I guess Obama was right"¦he will bring change.
I think it is unfortunate and will ultimately not be good for our country that the Government has such a large role in the economy. However, we have to look at the history of how we found ourselves in this mess. When Lehman Brothers failed in September 2008 and it looked like other major financial institutions would fail as well, it was the Republican Administration of George Bush that effectively nationalized AIG with its initial $80 billion dollar investment. The Bush Administration also created the $700 billion dollar TARP fund which it used to bail out companies ranging from the major banks to GM and Chrysler. It was also the Bush Administration that effectively nationalized Fannie and Freddie. The Obama Administration has only been following the example set by the Bush Administration.
Why did the Government get involved? It was when private sector entities through their own recklessness and mismanagement suddenly needed huge sums of capital to ward off bankruptcy and no one in the private sector came forward to make this capital available to the struggling firms. The Government was, and continues to be, the only entity that is willing and able to invest in large sectors of our economy that face ruin. The Government did not ask to be an owner of large parts of the economy, it was forced to intervene because the private sector had failed badly and was unable to right itself.
This whole episode has exposed a fatal flaw in American style capitalism. If some companies become so large and then behave in such an irresponsible manner that their failure would constitute a systemic threat, the private sector can do nothing but turn to the Government for a rescue of the economy. We know that communism has failed and that socialism realy concerns itself with issues such as social welfare rather than management of the economy. We have no choice but to make capitalism work but to do so it is going to have to operate in a profoundly different manner than it has in the past ten years. We can no longer have companies that are largely unregulated and so large that their failure could bring down the whole system. This means that we will have to get used to the idea of the Government either closely regulating or having outright ownership of companies and industries whose collapse could result in a systemic failure.
It seems some posters here feel the government is overstepping its bounds in helping these industries (banks, ins.,auto makers etc.)?
"Power grab" is NOT what happened - the PRIVATE industry ASKING for and TAKING the offered help is what is happening.
If there is blame to lay (and there most certainly is) it is to be laid squarely on the industries that went belly-up becauseof mismanagement, coruption and greed - who then CAME ASKING for and ACCEPTED OF THEIR OWN FREE WILL the help offerd by Congress (with disclosed strings attached).
The private sector failed - and theyVOLUNTARILYcame tothe Feds to bail them out - and they got it - strings and all.
You rediculous fools, who are screeching with fearandpracticing"duck andcover" from the imaginary "socialist governemt",which you incorrectly think forced and orchestrated this, are DEAD WRONG! - period.
(your tuition bill is in the mail)
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"I would not support repeal of Roe vs. Wade, which would then force women in America to [undergo] illegal and dangerous operations."¯ Senator John McCain
Source: Ron Fournier, Associated Press Aug 24, 1999
Location: On an Island in the west coast of New England
Posts: 13,133
RE: Hi, I'm your Big Brother. Can I come in?
I can buy the fact that private industry blew it and that they are relying on the government to infuse money to keep them solvent. The money comes with strings of ownership and seeing the way the government operates its own entities I wonder if they will be any better as managers.
Quote:
You rediculous fools, who are screeching andpracticing"duck andcover" from the imaginary "socialist governemt" that you incorrectly think forced and orchestraed this, are deadWrong! - period.
And what part of government is well run again?
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Too busy with fishing to spend much time here.
Hi, I'm your Big Brother. Can I come in?
