Private Profits and Social Losses
I think this is an interesting article. The tack that our country has taken, to privatize profits yet socialize losses , puts the burden for someone else's mistakes squarely on the shoulders of you the taxpayer. Now that bank CEOs can no longer pay for their plush offices with remote-controlled La-Z-Boy, now I must make the La-Z-Boy payments myself. But I'm still not allowed to sit in the chair and enjoy its benefits. Yet when that CEO makes a good decision and makes a profit, he doesn't have to share it with me - he gets to keep it all to himself and his company. So at its core, this is Middle-Ages Feudalism, where us peasants (American Middle Class) have no choice but to pay to insure the lifestyles of the rich and famous. I agree that it is difficult to gauge the proper balance of government regulation of economic industries. But on the other token, I'm against socialized welfare to cover other people's bad decisions. It just perpetuates ...