CEO mentality has bankrupted the world banking system in 2008 to the tune of trillions, GM and Chrysler at tens of billions. They were bailed out by the Govmint Do we really want CEO mentality running Detroit ? Like · · Unfollow Post · 38 minutes ago Cassandra InDetroit, Darrell Tucker and Daniel Ferguson III like this. Darrell Tucker Charles.. you think we wouldve learned from the nerd 35 minutes ago via mobile · Edited · Unlike · 2 Daniel Ferguson III Corporations run the world ! Profits over people. 35 minutes ago via mobile · Unlike · 2 Charles Brown We r the 99%. We shall overcome. 5 minutes ago · Like · Remove Preview Charles Brown There is a long history of government bailout of corporations. Wall Street has been on welfare for a long time ( (History of U.S. Govt Bailouts propublica.org/special/government-bailouts :en.wikipedia.org/wiki/Too_big_to_fail) History of U.S. Gov’t Bailouts Charles Brown It is important to point out that the Too-Big-To-Fail Corporations did in fact fail circa 2008. The demand the rulers on Wall Street made to Washington for a bailout was a confession that the whole financial system was insolvent. The bailout brought the Finance system back from the dead. Capitalism does not add up. After 500 years, it ends up that capitalism is bankrupt and insolvent by its own generally accepted accounting principles In other words, Public Enterprise, the Govmint that the Reaganites and tea Republicans hate so much , is more efficient than the Private Sector, because the Govmint keeps bailing out, acts as an Insurance Company for the largest private corporations, the too-big-to-fails. The Govmint is solvent and the too-big-to-fails are not over the long run. So, forget all this talk about private enterprise is efficient and government is not. The government cleans up all the private failures including taking care of abandoned buildings that private banks cause in Detroit.
Posted on: Fri, 15 Nov 2013 13:41:05 +0000
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