December 9, 2008 5 Comments

A colleague on the auto bailouts: "I’m going to put on 400lbs and start demanding handouts because I’m ‘too big to fail’".

UPDATE:

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5 Comments

  1. tricstmr December 9, 2008 at 18:31

    From what I’ve been hearing.. when people say something is “too big to fail”.. then I would also mention that it’s “too big to exist”…

    personally.. I’m hoping for Chapter 11 bankruptcy… and reorganization..

    (although the peasant side of me does find it somewhat interesting that this much time is taken to deal with a 15billion dollar bailout, and Bush is all about “regulation and oversight” in this case–but was all like “we need to give the Bankers 700 BILLION DOLLARS NOW OR THE WORLD ENDS, QUIET WE HAVE NO TIME TO EVEN THINK ABOUT THIS, DO IT! DO IT! DO IT!…”
    and over 350 billion of that bailout has already been given to the bankers..

    Couldn’t we just theoretically make the banks lend the big three the money?

    I know, I know.. this is all very non-libertarian.. and I know you were most likely against the bank bailout early on and are just being consistent.. but part of me just finds it interesting that the bailout of an industry that, on the whole, probably leans democratic in terms of its overall impact (labor unions)–a bailout that is 1/20th the size of that given to the banking industry/Wall Street (an industry that I would argue leans Republican) is so much more problematic…

    don’t get me wrong.. I’ve been strongly converted to a general anti-bailout stance–especially some sort of “give us money and go away” type of thing.. personally, I would argue that the gov’t should buy equity into the firms if they are going to give them money.. (kinda like how the british gov’t owns 51% of BP…) and then can sell them off later.. (like Sweden did about a decade ago..) rather than just giving private industry our money for the hell of it…

    Sorry.. I just gone and ranted all over your journal.. My apologies..

    1. avdi December 9, 2008 at 18:35

      Rant away… I have little time for ranting myself these days, and I don’t really disagree with anything you have to say here…

    2. avdi December 9, 2008 at 18:38

      P.S. See my update above.

      1. tricstmr December 9, 2008 at 18:40

        BWAHAHAHAHAHAHAHAHAHAHAHAHAHA

        Ganking.

        Immediately.

    3. princeps1978 December 10, 2008 at 00:39

      Well, the government does own 80% of AIG now. They probably should’ve been consistent and taken the others over as well.

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