8 ms·
I’m not sure that saved the economy. If GM failed, someone else can and would take their previous share of the market. In the short term there’s pain for GM emp
by tracer4201 7y ago
I’m not sure that saved the economy. If GM failed, someone else can and would take their previous share of the market. In the short term there’s pain for GM employees, suppliers, etc. but in the long term, corporate america realizes their losses won’t be socialized.
It blows my mind this country of anti socialism whose media was comparing my native country (Denmark) to Venezuela is so much against the common man but when it comes to the wealthy elites, it’s like your poor people have been taught to voluntarily empty out their pockets.
Socialism == bad somehow until it’s time to bail out corporate America, and even then, your people are against nationalizing these companies. So what lesson do their corporate boards learn? Nothing other than the American population whose already been robbed will foot the bill.
- ceejayoz 7y agoThe GM bailout was, in essence, a partial and temporary nationalization. The losses weren't socialized; again, the US taxpayer made a small profit off the rescue program. I'm all for a critique of the American attitude that "socialism" is automatically bad, but TARP etc. isn't a great example of that attitude.