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What should happen when these "too big to fail" bailouts happen is that the original company is allowed to fail and declare bankruptcy, while the government bec
by dreamcompiler 7y ago
What should happen when these "too big to fail" bailouts happen is that the original company is allowed to fail and declare bankruptcy, while the government becomes in effect a VC that kickstarts the creation of at least two different, new companies that rise from the ashes.
Companies that develop a "shareholders-first, engineering and safety last" culture are time bombs waiting to explode, and they should not be rewarded for exploding.
- anticensor 7y agoUS partnership and commerce law do not allow for partially state-owned partnerships.
- lonelappde 7y agoParent didn't say "partnership". Their are various models. TARP happened, Amtrak and USPS.
- dreamcompiler 7y agoLoan guarantees are also a thing.
- dredmorbius 7y agoCitation requested.
- holler 7y agoRecently another post mentioned the shift from engineering-first to shareholder-first that occurred after the merger with McDonnell Douglas in 1997, but how many fatal accidents occurred in Boeing’s history before that merger?
- lonelappde 7y agoMcDonnell Douglas. The Hamburglar doesn't steal airplanes.
- holler 7y agoLOL oops
- dredmorbius 7y agoV. interesting proposal. Consider this in banking also, where current FDIC practices instead encourage and facilitate consolidation.