The Bailout is Stupid?

[rwfranz]

Why bail out GM?

http://smartpei.typepad.com/robert_patersons_weblog/
At some point it became clear in the Soviet Union that in spite of a charismatic new leader, that the SYSTEM, could not be saved. At some point in the 5th century, it was clear that Rome, as a

Comments

[docryder]

What I'm thinking, at least as far as the auto industry is concerned, is that Nancy Pelosi's sound byte is accurate: "Until they show us a plan, we cannot show them the money." The business model needs to change, and that needs to be demonstrated and committed to. We need contracts that say that the People will be rewarded for bailing their asses out, and that the heads of these businesses will forfeit their fortunes if they fail, as well as serving jail time should they fail.

That should be true of the banking industry as well. And I think this all goes back to that "Corporate Personhood" thing. Human people run these "Corporate Persons," and those humans are responsible for what the corporations do, and we need to remind them of that in no uncertain terms. We need to stop the rewards for failure, and by laws if people can't do it of their own volition. As the Libertarian Party might say, personal responsibility does not end once you walk into the office.