thomas1023
Well-known Member
Here's another thought along these same lines is an analogy that I think fits this situation. I'm referring of course to the top management making outrageous sums of money and bonuses while presiding over the death of their company. If we set the precedent that any big U.S. company could get a taxpayer funded bailout in times of trouble and the CEO's and upper management could all be assured of keeping their jobs...where would it end?
It reminds me of the story of the boy who is in court for sentencing because he murdered both of his parents. When it's finally time to face the consequences of his actions he tearfully asks the judge for sympathy and leniency...because he's an orphan.![]()
Tampa -
That's exactly the president which has been set...we now have the US Government now being able to pick the winners and losers in what's supposed to be a free market system. (As an aside, I'm sure the BO Executive Order to have all corporate CEOs and Boards report all of their political contributions to the Federal Government wouldn't play a role in which companies which may be chosen for bailouts in the future.)
We already have a solution in the free market, bankruptcy. This freezes liabilities owed, allows a company to sell off unprofitable divisions, restructure, and potentially emerge from bankruptcy a leaner and more competitive corporation.
In my opinion, this bailout was done for the Unions. Under bankruptcy, Union contracts could be renegotiated and this wouldn’t stand with the current administration. In a bankruptcy, the primary people who would be paid back money would be the bond holders. They were bypassed and the Union Workers were put in line first.
The BO Admin is working very closely with Union Leaders. Here are some clips from two which are avowed Socialist / Communist.
First, there’s Andy Stern from SCIU:
http://www.youtube.com/watch?v=gzGuVd9E_lA&feature=related
My favorite quote is ‘…were going to use the power of persuasion….and if that doesn’t work, we’ll use the persuasion of power’. That along with the good old, ‘workers of the world unite just isn’t a slogan anymore'...those Soviets sure knew how to coin a phrase!
Then, of course, there’s Trumpka from AFL/CIO:
Here he is hanging out with his friends….
http://www.youtube.com/watch?v=lv5DpBx2Tg4&feature=fvst
and his influence in the White House…
http://www.youtube.com/watch?v=O4NrT2oTQqE
And, on a somewhat related story, just recently, Boeing invested a billion dollars in building a new plant in South Carolina which would employ thousands, however, SC is a ‘right to work’ state. Boeing based in Washington State and even with the opening of the new plant in SC, they were not going to fire any of the current employees and have added two thousand jobs in the last two years in Washington. Thankfully, the Dept of Labor stepped in and has sided in the Unions who said they could not expand into SC. I guess another good president set with the Federal Government controlling which States a company is able to operate. Hopefully, Boeing will be able to prevail in the courts!
http://www.youtube.com/watch?v=XWUSo4uckTo
I think the government should own all the companies and they could operate as efficiently as the Federal Government….sort of how that stimulus money went to the right places in the economy and we don’t need to worry about going over 8% unemployment!
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