The times
that we are in are hard and not looking too good for the future. As a tax payer
as everyone in America is, or at least should be, I take pride and some form of
happiness to see my government throw my hard earned money away as they have
tried to salvage sinking companies from the briny deep. I am, of course, being
very facetious to which the mood of this writing will stay as I have lost and
most likely will lose more hope for the economy to bounce back to something of
a presentable state that we as a country can be proud of.
Not too
long ago, in a country not too far away, company after company fell to the evil
that is bankruptcy. The article, “How the Government Bailout of FailingCompanies Enslaves our Children and Grandchildren,” states that in the massive bankruptcy that happened a couple of years ago
to the companies of Ameribank, Fannie Mae and Freddie Mac, Lehman Brothers,
Merryl Lynch and AIG was a colossal tragedy to the economy. These events,
however, show the American people that the government has a humorous side as
they responded with the worst joke ever told in America. Not only did the
government include themselves but they felt like including the American people
as well as the government took the peoples’ money and threw it away. It might
have been funnier if they just burned all the money and sang kumbaya around the
fire. The government took billions of dollars and tried to revive the dead only
to increase the enormous amount of debt that America is in, but it is for the
greater good so that makes it all ok. It is easy for the government to hand
truckloads of other peoples’ money to these companies, it is even easier for
the companies to spend it because they know that it is not theirs, so there is
no negative side if they waste it. This
leads up to my next point that I am going to make.
I feel like the people of today have
become too soft. If companies like these fail, and fail hard they did, I feel
like they should get the “F” they deserve. I believe no one truly learns unless
they truly fail. The government playing this joke of giving the bankrupt companies
billions of dollars to stay afloat will not teach them anything. For companies
to take more responsibility for their actions, though this may be harsh, they
need to fail without the hope of someone coming in to save them. Some would
state that there are companies that are too big to let them fail, which is
stated in the article “When Should the Government Bail Out PrivateCompanies?” If this happens to be the case then that company would need to be
broken up or given less power because if this is ever the case then that means
a monopoly is forming and if I am not mistaken that is a bad thing to let
happen.
The
government bailing out companies is a huge joke, and not even a good one at
that. It is like those jokes that you think is really funny on your own, but
when you tell your friends they just stare at you with the dumb face. If
companies are failing then they need to fail hard and then maybe, just maybe,
people will learn the value of money.
I completely agree with you. Our government was not intended to be a bank that private corporations could turn to in time of need. The government has no right to take our taxes and spend it trying to revive dying corporations because some hot shot CEOs made some bad decisions. Those people need to take responsibility for their actions instead of pushing this financial burden on the tax payer’s shoulders. These companies failed due to their own mistakes and poor management of funds so they aren’t the companies worth having around anyways. I have no idea how the government is going to correct this mess they made. All I know is that the private sector needs to remain private.
ReplyDeleteI couldn't have said it better myself. The cynicism actually helps make your point because I think that is how the majority of the country feels on the issue of the Wall Street bailout. The companies had been taking too many risks for the sake of profit, whether it was risky investments or trusting too much in the economy not failing. They weren't practicing smart business and so they deserved what they got. They are like a child that needs to learn the error of it's ways. The government needs to let them suffer a little so they learn their lesson.
ReplyDeleteI really like the point that you make about the companies getting the 'F' that they deserve. It's high time that the government let these corporations learn from their mistakes in order to prevent them from making the same kinds of mistakes in the future. Also, the point you make about the companies becoming monopolies is another brilliant idea in my opinion. If a company becomes so large that they need billions of dollars to remain afloat, then maybe they need to be broken down and managed in smaller sections. All in all I agree with you on this one, something definitely needs to be done here soon, and the government needs to start learning to say no to handing out taxpayer money.
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