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Re: Ironic timing, "new" GM is caught stuffing channel
Posted by Reality (more from Reality) on Thu, 5 May 2011 15:20:56
In Reply to: Re: Ironic timing, "new" GM is caught stuffing channel, kkelley, Thu, 5 May 2011 14:50:16

If not for the government bailouts, Saab would probably have been sold to one of the much stronger top-tier Chinese or Indian automakers with much deeper pockets instead of the uncertainty that is now a year later and partnering up with a tier-3 Chinese automaker. Don't get me wrong, I wish all the best for the partnership with Hawtai, but it is certainly not Geely or SAIC, or even BAIC.

Yes, many other countries subsidize their carmakers; that's one of the big reasons why their people's living standards are below ours (despite spending much less on defense like we do)

Same deal with banking. New banks would have emerged very quickly if and when the "TBTF" failed. In case it's not obvious, most of the biggest names in US banking date back to the late 19th century . . . it's not because the US did not have banking before then. They were simply the last crop of new growth that were able to emerge the last time older and more established banks were allowed fail.

What makes capitalistic free market work is the individual consumers' ability to tell the service providers to go away by taking business to more innovative companies that deliver better goods and services. The monopolistic "public utility" approach to life (whether called "socialist" or "fascist") really doesn't work.

posted by 76.118.39...

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