I stand right in the middle. And I dont think of it so dogmatically as Socialism. This is no longer the cold war.
I believe certain things should be run by government. Because at least in this country, government is accountable to us. Private corporations are not. Although we have better government regulation here so I'm not entirely against corporations running certain things. For example to lay out a comparison
In Nova Scotia the government use to run the energy firm and provide the electricity to Halifax. They had an army of workers and whenever the power went down they could bring it up really fast. Then they made it private. Saved the province alot of money BUT such things as a small hurricane a few years back, knocked out power for some people for weeks because there wasn't that army of workers to fix the stuff. There are +'s and -'s to everything.
But personally I prefer healthcare in the hands of my government so I can get rid of their handling of it, if they mess up. I can't exactly get rid of the board of directors of a greedy Health Insurance company.
GM and Chrysler have been suffering, which worsened after the bailouts.
All the subsidy and favorable laws should be removed to level the playing field.
Almost every mega corp that has ever existed has been a direct or indirect cause of the government and business partnership.
The point is to push to provide that level playing field.
When we stray from that, we are asking for problems.
Most people would not want to stomach this change but in the end I believe it is naturally destructive anyway.
Last edited by Harry Guerrilla; 04-01-10 at 12:25 PM.
I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
U.S. Treasury Plans to Sell Citigroup Stake in 2010 (Update3) - BusinessWeekU.S. Treasury Plans to Sell Citigroup Stake in 2010 (Update3)
March 29, 2010, 12:48 PM EDT
By Michael J. Moore and Rebecca Christie
March 29 (Bloomberg) -- The U.S. Treasury Department plans to sell the government’s 27 percent stake in Citigroup Inc. this year in what could become the biggest profit for the bank bailout program.
The Treasury will dispose of its 7.7 billion common shares of New York-based Citigroup over the course of 2010 using a “pre-arranged written trading plan,” the agency said today in a statement. The Treasury’s stake -- the biggest of any common shareholder -- had a market value of $33.2 billion as of last week’s closing price, for a paper profit of $8.2 billion.
The sale would finish the recovery of $45 billion given to Citigroup from the Troubled Asset Relief Program and bring the Treasury closer to President Barack Obama’s goal of recouping “every single dime” of taxpayer money put into the bank rescue fund. Citigroup, ranked third by assets among U.S. lenders, took infusions from the $700 billion TARP fund in late 2008 as waning confidence almost triggered a run by depositors.