Should public money underwrite private enterprise?

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  1. profile image0
    pburgerposted 8 years ago

    The bail-out of major corporations and banks at the expense of public debt contradicts the rhetoric of the free-market. According to capitalist theory companies that make poor decisions should pay in the market even if that means they go out of business.

    But, that is not what happens.

    Governments around the world decided every woman and man would contribute to the bail of privately-owned enterprises that failed to manage speculative business ventures or to respond to new market demands.

    Should the public purse keep afloat private enterprise?

    1. Doug Hughes profile image57
      Doug Hughesposted 8 years agoin reply to this

      This is from 10 days ago...

      "General Motors today $8.1 billion in government loans repaid, five years ahead of schedule and nine months after the troubled auto giant declared bankruptcy, signaling that the auto maker may be on the path to profitability.

      General Motors Co. CEO Edward Whitacre Jr., celebrates with workers during a news conference at the GM Fairfax plant Wednesday, April 21, 2010, near Kansas City, Kan. GM repaid $8.1 billion in government loans, five years ahead of schedule and nine months after the troubled auto giant declared bankruptcy.
      (Orlin Wagner/AP Photo)"As of today, GM has repaid in full and interest," said GM CEO Ed Whitacre to a crowd assembled on floor of a GM plant in Kansas City, Kan.

      To smiles and applause from workers, Whitacre also announced GM's plan to invest $257 million in that plantand another in Detroit to ramp up production of the Chevy Malibu.

      Cheering on the floor of a GM factory would have been unthinkable a year ago, when the company was on a downward spiral towards its bankruptcy in June 2009. "

      http://abcnews.go.com/WN/general-motors … d=10437944

  2. MikeNV profile image77
    MikeNVposted 8 years ago

    Yet it just keeps happening.

    The media only covered a few of the many banks who got free tax payer money.... most of which has not been paid back.

    That money went to the banks with no stipulations.  They could use it however they wanted and had to tell no one how it was used.

    And Obama wonders why there is such a huge anti-government sentiment?

    Just look at the Government Motors media scam in the past 2 weeks.  $18 Billion handed out to General Motors Finance... no one is talking about this part of the GM Bailout on the nightly news.  Then Government Motors repays a loan of $8 Billion (While still owing an Additional $45 Billion) and the media picks up the story as if EVERYTHING HAS BEEN REPAID.

    Americans citizens are being lied to over and over by the Media and the Government.

 
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