Yep, I said it.
Let’s stop with all these massive bail outs to mega corporations with poor planning. If a corporation is perpetually in the red then let why keep bailing it out? Right… it’s because we’re afraid of the effect. We’ve been bullied by these mega corporations, held hostage with the risk of all hell breaking lose.
Seth just posted “What to do about Detroit“. In which he makes some very good points about the auto industry, and capitalism in general.
I particularily like and agree with what Seth has to say, especially here:
Not only should Congress encourage/facilitate the organized bankruptcy of the Big Three, but it should also make it easy for them to be replaced by 500 new car companies.
There’d be an orgy of innovation, and from that, a whole new energy and approach would evolve. Betcha.
So, what are we afraid of? A handful of incredibly weathy would be hit the hardest, and sure there would be a significant hit to many, but perhaps absolving all that debt (which would ultimately benefit millions of North Americans) could be a better net result than having all these North American’s buck up more cash to bail out poor businness planning.
Why stop at the Automotive Industry. While we’re at it, why not just wipe clear all world debt? Sure, it would devastate, but mostly just those at the top.