Well, here’s a potential path out of the perpetual government bailout mire of banks, auto manufacturers & every other business whose executive management teams sank them, their stockholders & their customers through repeated greed-driven boneheaded decisions: as reported in the Washington Post, the Mafia has stepped into the lending gap in Italy.
We should definitely see if we can’t make that model work for us here. Instead of Rick Wagoner & John Stumpf sidling up to the feds to ask for further squillions, & Congress being too spineless to put any real conditions on the use of our money (e.g., no bonuses, no junkets, no incentives except stock shares), how about they go to a shipping container outside of Detroit or Oakland & talk to a guy named Guido to get the dole?
Now, there’s a beautiful element to this solution: not only will it not be your dime & mine (at least not directly) going down these sinkholes, but there’ll be a much higher incentive for the corporate buffoons to take real action to get their companies out of the red.
Seeing as to how the red could be their blood.
I’m pretty sure that the bent-nosed boys will have no qualms whatsoever at examining GM’s or Wells Fargo’s books & demanding the elimination of executive perks…or executives—they can take their pick—until the loans are paid off.
& if the companies don’t make the payments, & they start appearing in Lake Michigan or the San Francisco Bay wearing fine Italian cement loafers, at least the gene pool gets thinned out.
Win-win, I say.
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