Originally Posted by CowboyMcCoy
I'm scratching my head as to why GM and Chrysler didn't fail. You seem to be justifying the institutionalization of corporate corruption by saying the system punishes them. When in fact, when it comes to the biggest corporations and the most corrupt; they don't do anything.
To second Ice's reply, their lack of failure was due to Uncle Sam handing them bridge loans. To keep them afloat. In spite of their insolvency. And I don't see how you think I'm justifying institutionalized corruption - I actually am quite against it. In the free market, corrupt (or merely incompetent) companies fail...precisely because they're *allowed* to fail. Or put another way, a company teetering on the brink of failure through a combination of corruption and/or incompetence will not be bailed out with taxpayer money, but will be forced to sink or swim on the merits of its own balance sheet.
Professor of Philosphy: "Only a fool is certain of anything".
Student: "You sound pretty certain of that, sir".