... get ready to fight with Congress. The next thing we'll be hearing is that some of these banks and high-flying financial institutions, which give out six-figure bonuses, are "too big to let fail." Congress (read "the US tax payer") will be asked to bail them out. Our answer should be "No." Economics 101 says that businesses must be allowed to fail so that the word "risk" means something, and to clean out the dead wood.
You can read the short piece, which has a funny introductory story involving Winston Churchill.
Psssst... Do Something
- Contact the Broadcast Media
- Contact the Newspapers
- Contact the US Senate
- Contact the House of Representatives
2 comments:
"Our answer should be "No." Economics 101 says that businesses must be allowed to fail so that the word "risk" means something, and to clean out the dead wood."
Bankruptcy in the Bush Admin only means "hide under this umbrella until all your unions and pension plans are gone."
Yes, FWY, it's sad but true that the system is deeply rigged.
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