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Termyn8or -> At what point do we turn (socialist) ? (10/20/2008 8:00:55 AM)
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There is alot of talk about control over the investment banking industry, and a few other areas. Many large companies have certain regulations that might seem draconian to a small businessman. However most big business has lobbyists and those regulations are tailored for them to a point. To the point where they sometimes discourage competition.
As much of a true libertarian I am, reality is upon us once again because people are people and some are infected with greed. This screws the whole system up bigtime of course and has gotten us into a mess. There is no cure for greed, no twelve step program, no counselling or anything of the sort.
So some controls are needed, controls that can't be lobbied into non-existence, a form of socialism. As much as I am against it, reality is still there. These people must be kept in check. However at the same time, millions of small businesses really don't need any more intervention, believe me I know.
So somewhere along the line, a line must be drawn. When a business is providing something on which society depends greatly, like utilities and energy, there is a need for control. When a company gets so big that their fall would have a significant impact on the economy, there needs to be control.
My thoughts just meandered back to a scene in, I think, a Mad Max movie. This guy was sitting on what looked like a makeshift throne and when he heard something he didn't like he said "embargo on" and once appeased properly would say "embargo off". IIRC he had a refinery. Can we have people with attitude with this sort of power ?
Of course now nobody says embargo on, but they certainly dip into the till. And dip and dip and dip until there is no till anymore. We have to stop this interdependence created by investing profits in money markets rather than increasing the productivity or abilities of a company. I mean this year the price of GM stock almost went below the price of a gallon of gas. Why ? They sell cars. Are you saying they sold no cars ? I see alot of GM cars driving around. Did they have to give them away ?
Mostly in this country, public utilities are already quite regulated, but when another entity becomes "vital", it should be scrutinized as well. The large investment banks, large conglomerates, auto manufacturers and so forth have become the backbone of what little productivity we have left. We just can't let people run them into the ground.
People think Lee Iacocca saved Chrysler, but the fact is that the US taxpayer did it. A bailout - corporate welfare if you will, has been around since before 2008. This is nothing new. Actually Iacocca had worked at Ford and I hear designed the Mustang, then was subsequently fired. I wonder why, and the exact reasons will probably remain unknown, because the Mustang was an incredible success, they may not have made all that much money on them, but it put alot more Fords in people's driveways.
So we the taxpayers will be biting into a huge shit sandwich for years to come, and the suits come out smelling like a rose once again. We can't let this keep happening. We simply can't afford it.
I think there should be certain criteria for a large business which once met, they come under the scrutiny of someone somewhere, if we can find someone who really has the best interests of the country in mind. But what would be the criteria, or the prime criterium ?
Any company with a large market share providing goods or services that are vital to human life or the economy.
Any company that reaches a scale of operation that amounts to a certain percentage of the GDP.
Any company that is engaged in supplying a unique product that is essential and can be considered a monopoly.
For example, Cleveland Electric Illuminating Co has perhaps one million customers. If the CEO makes a million dollars a month, that is a dollar out of each and every customer's wallet each month. The guy probably works about four hours a month.
Of course we have to be reasonable, we can't stifle everything so there have to be exemptions. For one if the CEO is THE FOUNDER of the company, take the money, that is fine. But a Johnny come lately CEO would be subject to certain rules.
Companies have gotten big government loans in the past, which is usually followed by an expensive vacation for the board members. This is getting ridiculous.
I really wish we could find some honest politicians, because after this bunch of crap going on, I would be willing to hand over the reins of big business to them. After all if I loan you money for food and you spend it on beer, you are not getting any more.
Any company that takes government money should just capitulate and the government should run it. The obvious problem exists, because they can't run anything right. This is another problem that needs to be addressed.
But then at least we can vote the politicians out. Sorry to increase their heavy workload since they work about four hours a week. Somebody has to do it.
Is what I'm saying alluding to the proposition that capitalism creates the need for socialism ? As much as I hate the idea, perhaps it's time has come. And what of medical coverage ? Unlike many I have none nor do I want any. But that's me.
Governments are just about defining mediocrity, socialised medicine has limited success, it works, just not all that well. But the thing is that it works. Lehman and AIG don't. What some consider among the best health coverage in the US, Kaiser Permantente has it's ups and downs. I hear their care is good, if you can get there. But if in a car wreck or something they will just do triage at a local hospital and ship you there with stitches hanging out and everything. Why ? You are supposedly insured, just let the underwriter pay the bill. But it doesn't work that way. In fact most medical plans have so many exclusions some of them are not worth having.
So the government is pretty much the definition of mediocre, but in light of how things are going overall, maybe mediocrity would be a step up. It may be surprising that one such as I would say something like this, and I can see the negative aspect of it. But take a look around.
This means if I start a company and it does very well, and grows and grows, one day it gets to a certain point. In steps a government official stating that we have been declared one of those necessary industries and there are new restrictions. My pay as the CEO is frozen. Books are examined. It's like a constant IRS audit, but more severe. Every official act of any import, such as a change in company policy is reviewed, possibly even before it takes effect.
Hey, they want to watch us, don't you think we should watch them ?
Those who own small businesses should be left alone, because they have little impact (one at a time) on the well being of the country. Another criterium could be how many people you employ. If you employ thirty thousand people, in they come.
We don't have a free country anyway. People seem to buy freedom, as they strip away individual rights they allow these meglomaniacs a free hand to rape the US public at every turn. It is time for the suits to give up some of THEIR freedom for OUR safety. We don't have much to give up, thanks to them.
T
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