Bailing out Wall Street was a criminal act. The execs just took the money for themselves through huge bonuses. They should have been prosecuted although several are now being tried and convicted. The stock market would be much stronger now if it hadn't happened.
Letting Detroit go bankrupt would not have been a big deal. Remember, bankruptcies are not the same as liquidation. All it means is that contracts become null and void. Business proceeds as usual but under control of a bankruptcy judge who says aye or nay for every expenditure. It is the fairest way to handle all old debts and works well in most cases. Even if the number of cars would have been reduced other companies making cars in Tennessee and other states could easily have picked up the slack; they were already slowing production because of the economy. This case is an example of the govt. choosing who succeeds and who fails. Please note Detroit has not yet paid back the loan from the govt. There is still a lot of waste left in these companies. ----- Original Message ----- From: "MB Software Solutions, LLC" <mbsoftwaresoluti...@mbsoftwaresolutions.com> To: "ProFox Email List" <profox@leafe.com> Sent: Thursday, April 05, 2012 11:49 AM Subject: Re: [OT] People don't want to work > On 4/4/2012 10:39 PM, Nicholas Geti wrote: >> The free market when left alone solved that problem. She got canned. >> Sometimes things take longer than we would like but the alternative is >> tyranny by the government. > > > What would the economy look like today had the government not bailed out > Detroit and Wall Street? > > > -- > Mike Babcock, MCP > MB Software Solutions, LLC > President, Chief Software Architect > http://mbsoftwaresolutions.com > http://fabmate.com > http://twitter.com/mbabcock16 > [excessive quoting removed by server] _______________________________________________ Post Messages to: ProFox@leafe.com Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/474374CB5EF84A6282DDB6BFCAFC7392@dual ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
