GM is cutting its workforce by 20%, Fannie Mae and Freddy Mac are on the verge of collapse, Bear Stearns, once one of the world's largest investment bank, is a crushed memory, airlines are facing bankruptcy, and the IndyMac banks in California went belly up and lost over a billion dollars in regular deposits and savings accounts before the Fed stepped in and took them over....
Yep. Say hello to big businesses. These are the folks conservatives keep telling us are more responsible and efficient than Government. If it's true, we're soooooo screwed. Even with nearly 40 years of warning, GM couldn't muster the balls it needed to make the necessary deep changes to stay on top, and some of our biggest banks raced recklessly to to the bottom to give loans to some of the least equitable people in the US, simply because foreign investors kept flashing wads of money at them to buy loans, ANY loans.
And when these companies fail due to their own stupidity, who do they crawl back to for help? That's right. The Government. The very same group they claim to be better than. "Save us...save us to save yourselves!" they screech. They want US to put up our money to save them.
I hate to bring this up, but this deregulation fad the Republicans have been pushing through hasn't panned out very well. Meanwhile, the crazed GOP loudly claim to love America, but they don't trust it with money...until the companies they worship need to be bailed out because they made insane lending mistakes. Then the Republicans come running back to Uncle Sam with their hands out for more candy for their favorite corporate entities.
The bottom line is, Government is a more stable and deliberative user of our money than large companies are.
