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Here's one idea that I've recently been enlightened from. Austrian economics.
NO bailouts to anyone. Let the businesses fall and get it over with.
I always thought it was a bad thing, bankruptcy, but it turns out to really be a blessing for many when it happens. The business looses it's problems with paying bonuses (like AIG), the folks that help run companies into the ground are sent packing, what's left of the ashes will be picked up for a great price on the dollar by other companies looking to grow.
Now I understand that not all people hurt by a business closing did something wrong but the way I see it is like a healing process. You get the bad over with as quickly as you can so the healing can take place. I look at all of the car folks as well as all of the outsourcing people. They've all been treading water that cannot be beat.
Would it have worked out for the better if GM had gone bankrupt, reorganized, sold off some of it's plants to maybe an upstart electric car manufacturer and started anew? GM gets out of union contracts and health care that's hurting their competitiveness, another outfit buys a tooled factory for pennies on the dollar to grow.
Sure some of the GM folks would be without jobs at the end of the day but they're going to anyway sooner or later.
I use GM only as an example. It could be any company.
I just don't see how the Government meddling in businesses helps anyone. The next step is the new owner of GM/Chrysler telling them that by 2014 they will be making cars that average 35 1/2 MPG. Good luck with that.
Todd, I like your ideas as well.
Bob
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