Let Them All FailSubmitted by cactus1010 on Fri, 11/14/2008 - 02:52
These ill-run companies are like a festering wound on our econony and our country. They need to step aside and let new companies develop new industries for the future.
People say these companies are too big to fail, I say they are too big to continue...they have become cumbersome and uncontrollable
These present failing companies are the dinosaurs of the past. America needs an infusion of new innovative ideas, this is what has made our country great.
I realize in the interim there would be some pain, but in the long run America will end up the better for it.
Government needs to get out of the way and let a true free market work the way it was meant to.
If these companies are allowed to fail, some will be gone for good, others will reorganize under Chapter 11, and other companies will step up and fill in the voids. If we let them fail, it will send a signal to other companies and other industries. It will force them to find alternative solutions and they will find those solutions.
If we bail out this industry now, next week there will be another dozen lined up with their hands out waving to Congress. Where will it stop? There was news today, that the US' credit rating may be lowered from "AAA." It will cost us more to borrow from other countries. Our debt will continue to rise and we will find ourselves in a weakened state of affairs. I don't mean financially.
Unfortunately, they won't be allowed to fail. The Democrats have too many favors to pay back to the unions.