March 22nd, 2009

Wu-Tang Financial

blah blah bailout blah blah blah

Copied from a thread at politicalfilter:
The bailout is sounding less and less like a good idea these days. Too big to fail means what exactly? That if the companies go bankrupt, the government loses tax revenue? Rather than a sound investment, the bailout sounds like throwing good money after bad. Rather than buoying up these companies til they can get on their feet, it's more like nursing an unrepentant bank robber back to health. Is it the unemployment issue? It seems to me like the money could be better invested in extending unemployment and medical benefits to those who lose their jobs in related collapses (AIG and all the companies that depend on it), while also funneling tons of money into the SBA so that those with management experience can afford to start their own companies (what with credit being otherwise scarce these days).

It just seems like a colossal mismanagement based on a rushed decision and a need to appear to be "doing something." Let them fail. But make it so that no company is ever "too big to fail" again. There needs to be a disincentive against short-term thinking. These companies undermined themselves and our nation with their short-sightedness. Why are we paying for them again?

  • Current Music
    Scorpions - No One Like You (f'n awesome song, btw)