Archives For bailouts


November 25, 2008

So the US Government bailed out Citibank. Add them to the long line of bailed out companies. They’re still blueing over the auto industry, but the likely outcome is more taxpayer dollars spent.

I know I’m not alone in thinking this, but has the world gone crazy?

Since when were Governments in the business of propping up failed companies?

If my business goes bankrupt next year, will the Australian Government bail me out?

I like the line from Romney on the auto industry: Chapter 11 bankruptcy is there for a reason. Why not use it.

A note of the political side: this is socialism at its worst coming from mostly the right, not the left, Australia and the UK excepted (although the UK is probably center right).

Big companies get tax breaks when times are good, but when times are bad the same taxes they avoided paying are used to prop them up.

The heads of the three US automakers flew to talks on a bailout in their private jets. Say no more.

I understand and respect the need to avoid a repeat of the Great Depression, but the message this sends to every person in small business who does it tough is beyond disgusting.

We live in strange times.