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Your Take: All These Bailouts…
Posted By Jim On 12/12/2008 @ 7:10 am In Your Take | 14 Comments
I’m getting a little tired of reading about all these bailouts. In fact, I’m so tired of it that I debated even offering this up as a Your Take! However, I felt that it’s the news of the day and you all probably want to vent your feelings and frustrations about it. As I write this, the House has approved a bailout measure and it appears that Senate Republicans are going to block it unless some significant changes are made (heck, they didn’t even participate in the meetings).
Incidentally, the bailout appears to be dead in the Senate.)
I personally think that the companies should be allowed to go bankrupt, restructure their contracts, and then leave bankruptcy able to compete better financially. I don’t think bankruptcy automatically means one of them will disappear and millions of jobs will be lost. Look at the airline industry, how many of those airlines have been in and out of bankruptcy? They were able to renegotiate with the unions and come out leaner than ever. Incidentally, airlines are now calling for some economic stimulus too, to upgrade the aging airport and ATC infrastructure (which is sorely needed).
What do you think about all these bailouts?
(Photo: six27 )
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