Quote:
Originally Posted by woj
First it was banks, now it's GM, next month it will be some other industry...
a case could be made that just about any industry is critical to the us economy... if microsoft was failing for example, it could be argued that millions of businesses depend on microsoft products, so ms has to be bailed out...
These bailout just set a bad precedent and teach management of companies bad lessons... "don't worry about planning, take all the risk you want, if you screw up, you will be bailed out anyway"...
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That moral argument is a good one, one whose sentiments I share, and one that's hard to refute.
However, I hope our leaders are practical and not ideological when it comes to this process.
If your neighbor is an idiot who smokes in the house and leaves the stove on all the time and never got his faulty wiring fixed after several warnings, when his house catches on fire, you need to lend him your water hose even though it is his own damn fault and he doesn't deserve a bailout.....because if his house goes up yours is next.
Unfortunately that's the same situation our economy is in, the fire will spread quickly if it's not contained, and people who didn't do anything wrong are going to get burned if we don't loan water hoses to the people who started the fire.
That's not to say we're not going to bitchslap them all once the fire is out and make them pay us back several times over.....but we still have to put out the fire.
