Sunday, December 7, 2008
Thoughts on Bailing
Bailouts almost insure Corporations and Unions operate with little fear of complete failure. Govt rescues are like a NET under the TRAPEZE. If therewas no NET, they'd be a damn bit more careful before swinging out into the wild blue yonder. I think that would be a good thing....no more "too big to fail" thinking. Perhaps if corporations were required to FULLY fund pension plans, then plans would realistically align with market forces.There needs to be more accountability of CEOs to stockholders. Something is broke when pay isn't aligned with performance. How in the h*ll the GE CEO(Imment) keeps his job is beyond me. Bottom line- there has to be a consequence to failure. A world with noconsequences is a mythical thing. Is this situation perhaps evidence of allthis 'self-esteem' crap put out in public schools over the last 30 years? Wedon't play competitive games on the playground, so everyone wins, everyone gets a trophy, blah blah blah.The best definition of self esteem I've ever heard is...."to not rely onothers for the burden of your own existence".