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Why Government Can't Run a Business

Discussion in 'Political Discussion' started by patsfan13, May 20, 2009.

  1. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Why Government Can't Run a Business - WSJ.com


    Great article explaining why the government is doomed to fail in it's take over of the banks auto industry and medical care....



    The reasons will ring true for anyone with any common sense.
  2. ljuneau

    ljuneau Rookie

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    Awesome article, thanks for posting this.
  3. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    The details as to the reasons that government will f'up a business are spot on.
  4. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Great stuff everyone should read this article.
  5. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Any insights on why, judging by recent events, businesses can't run a business? After all, business is meant to be the WSJ's forte.

    PFnV
  6. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Sometimes businesses fail, the gov just keeps throwing money down a rathole...
  7. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Something to get your head around: There would be no economy if government didn't essentially spot the financial sector for 8 months (and counting) like your broke-azz friend who can't afford his burrito at Taco Bell.

    I don't conclude that because the Obama administration is continuing the policy. I conclude it because the Bush administration -- market purists to the core -- initiated that policy.

    In fact, that is pretty much verbatim what one of the Wall Street kings of deregulated capitalism -- Hank Paulson -- concluded, despite himself.

    And now WSJ wants to explain alllll about big inept government blah blah blah.

    No single business has any obligation or interest in the public good. The theory is that the mechanism of the market makes all our selfishness and greed cancel out. That is not the case. All our selfishness and greed, in reality, also results in there not being any interest by any party in the system, in inherent system risk itself. In fact, in plenty of situations you can work it so that the collapse of something you are in contact with that will cascade outward from there will make you money (for example through the swaps market or shortselling.)

    And these mechanisms were introduced by who, government? No, by businesses. The business community screwed itself nine ways from sunday, and took us all along for the ride.

    Well guess what? When your behavior threatens the very existence of the economy, and you're the recipient of trillions in government largesse, you don't get to complain about how inept government is anymore, at least until you establish that your own grasp of business is based on something more sophisticated and functional than the Magic 8-ball.

    PFnV
  8. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    We survied the banking crisis of the 80's I don't buy the bailout bs from either Bush or Obama. I would also poiont out the problem was created in large part by gov regulations and manipulation of the market.
  9. tanked_as_usual

    tanked_as_usual Banned

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    considering the credit mess we are currently in was sponsored by barney frank and maxine waters, I find it fitting that the government is footing the bill

    without the subprime mess, there may have been an economic downturn, but we would be in a much better place right now than we are

    it almost seems scripted
  10. wistahpatsfan

    wistahpatsfan Rookie

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    I think the government set yet another bad prescedent by bailing out the banks and financials that we will never recover from. Frank and Waters acted wrongly and are still unrepentant, it's true. But the mess runs much deeper than them. The responsibility belongs to the whole government for allowing this to happen, and ultimately on the People for re-electing these clowns over and over, sending tacit approval for the status quo. We're such a politically passive and lazy country. We do what we're told by the TV. "Ron Paul's a wackjob"..."Ralph Nader's un-American"..."Steve Kicinich is too goofy-looking"..."We have a two party system" (that's my favorite lie ever).
  11. tanked_as_usual

    tanked_as_usual Banned

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    there should be parameters in place under which banks should operate in this country.......and then they need to be adhered to

    our world is over legislated...........
  12. sdaniels7114

    sdaniels7114 Rookie

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    I don't understand. What sort of parameters are you suggesting if you feel things are over legislated now?

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