Tuesday, December 17, 2013

Why Bankruptcy is Good

Government Motors is celebrating having fleeced taxpayers for ten billion dollars:
He said GM's bloated and overly complex operations have been streamlined, products are better and, with the government's help, a crushing debt was reduced.
Yes, but we could have accomplished all of that with the bankruptcy of GM, after which the worthwhile parts would have been made valuable by better management.  And it would not have cost us a raw ten billion dollars.  Since they can wait for bailout to make changes, USA industry does not bother trying to manage well.

When the enxt crash comes, what will be the excuse for that week that will be accepted, with no one going to prison.

And while we are at it, why is Snowden in exile and this general not in prison?

https://www.eff.org/deeplinks/2012/08/thanks-supporting-eff-las-vegas-and-beyond

We are truly a lawless country.

Feel free to forward this by email to three of your friends.


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