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2 Comments
- etx313, on 12/19/2008, -0/+1I'm from Detroit, the local economy depends on the auto industry here. But I'm not sure this is a good thing. Hopefully this will spark some change in the way people think around here.
- jefree, on 12/19/2008, -0/+1This is not free market capitalism people, which is a utopia ideal anyway. When your free market institutions get too big to fail for society to adequately handle that event then what you've essentially got is a society held hostage situation. Giving in to the threat is all is well and good if you think there will be no corruption and inside deals and no unfair lobbying for these billions of dollars being "loaned" out, but that isn't the reality of what develops in the long term. And what about the competitors who might have gotten talented workers and used equipment and higher markets share. They've already lost. The goal now in capitalism is to get too big to fail and garner good public opinion and inside deals. Sounds a lot like fascism to me at the expense of taxes and the middle and lower income classes just being kept in there place.
This is too bad. Change can be painful, but it is good.
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