Bailout alternative
Why should we throw bags of money at people who got a whole industry into a deep hole? Why not simply nationalize the companies we intend to bail out, steer them through the near-bankruptcy experience and then re-privatize them? What's so wrong with this?
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I'm not entirely opposed to that, but who would run the companies to get them back on their feet? It is the MBA mentality that got us into this; the age of administrators who actually know the nuts and bolts of what they produce seems to be over.
Well, the MBA mentality and their absurd salaries and bonuses untied to their results.
December 7, 2008 12:15 PM | Reply | Permalink
Well, I'm sure there are still people who can do it. Nationalize the auto industry, and that's it. That'll go together very nicely with the single-payer health care, by the way.
December 7, 2008 9:27 PM | Reply | Permalink