Agreed. More British Conservatives, too. As a rule of thumb, it is probably best to assume that whatever the banks don’t want is a good idea.
One of the Republican’s key problems is both the real and perceived ties to Big Businesses of all sorts.
I’ve said before that they should adopt a “Corporate Death Penalty”. And call it exactly that. Apply it both to companies “Too big to fail” that need bailouts to “save the jobs” and also in the case of major major criminal wrongdoing of the corporation itself. (Or any other group: non-profits, etc.)
It’s basically the Standard Oil / AT&T “Split it up” plan. Five or more smaller companies with individual bankruptcy trustees. Every payment-to-execs stipulated by contracts are nullified, every payment-from-execs are still in force. Fire the entire executive level – do not allow “resignations”, they’re fired with cause. If sensible divisions aren’t readily apparent, Solomonize it and let the Trustees do horsetrading to get their sliver functional. (With the bulk of the Trustee’s pay 5-year-out stock options or something similar.)
Then (if needed) you can talk about loans to the newly formed slivers as needed. You explicitly aren’t aiding the people that drove the ship into the mess. You also aren’t just passing the problem on to the consumer like massive fines do. If one of the slivers can’t quite stay afloat either – well, (1) it’s 0.20 the size, and (2) it’s a lot more “digestible” if some -other- company wanted to buy it.
The entire scheme has been attempted in isolated bits, it seems to work fine to me, and so this is “just” codifying, labeling, and stating this as another tool.
But:
-This is not going to affect the little guys in the slightest.
-Wouldn’t seem to be opposed by the many, many fields that just don’t have dramatic yearly mega-bankruptcies.
–Would be opposed by major Democratic donors. Loudly.
We have a huge money laundering scam in this country… until we deal with that, nothing will ever get better no matter what strategy is taken.
Politicians get money from big business to ensure monopolistic practices. If you are a small business you have to band together to buy lobbyists to buy politicians.
Things will never get better as long a politicians can funnel tax money to cronies. It must stop regardless of party. Nothing else will have any long term effect.
Big business is powerful enough it doesn’t need political help. Small business get’s very little political help.
The focus should be on consumers getting the best options which means encouraging competition, tranparency and low barriers to entry (fewer regulations.)
Basically, government should stay out of business. The best regulation is to let businesses fail on their own in a highly competitive environment. The higher the churn (failure rate) the better.
Agreed. More British Conservatives, too. As a rule of thumb, it is probably best to assume that whatever the banks don’t want is a good idea.
One of the Republican’s key problems is both the real and perceived ties to Big Businesses of all sorts.
I’ve said before that they should adopt a “Corporate Death Penalty”. And call it exactly that. Apply it both to companies “Too big to fail” that need bailouts to “save the jobs” and also in the case of major major criminal wrongdoing of the corporation itself. (Or any other group: non-profits, etc.)
It’s basically the Standard Oil / AT&T “Split it up” plan. Five or more smaller companies with individual bankruptcy trustees. Every payment-to-execs stipulated by contracts are nullified, every payment-from-execs are still in force. Fire the entire executive level – do not allow “resignations”, they’re fired with cause. If sensible divisions aren’t readily apparent, Solomonize it and let the Trustees do horsetrading to get their sliver functional. (With the bulk of the Trustee’s pay 5-year-out stock options or something similar.)
Then (if needed) you can talk about loans to the newly formed slivers as needed. You explicitly aren’t aiding the people that drove the ship into the mess. You also aren’t just passing the problem on to the consumer like massive fines do. If one of the slivers can’t quite stay afloat either – well, (1) it’s 0.20 the size, and (2) it’s a lot more “digestible” if some -other- company wanted to buy it.
The entire scheme has been attempted in isolated bits, it seems to work fine to me, and so this is “just” codifying, labeling, and stating this as another tool.
But:
-This is not going to affect the little guys in the slightest.
-Wouldn’t seem to be opposed by the many, many fields that just don’t have dramatic yearly mega-bankruptcies.
–Would be opposed by major Democratic donors. Loudly.
We have a huge money laundering scam in this country… until we deal with that, nothing will ever get better no matter what strategy is taken.
Politicians get money from big business to ensure monopolistic practices. If you are a small business you have to band together to buy lobbyists to buy politicians.
Things will never get better as long a politicians can funnel tax money to cronies. It must stop regardless of party. Nothing else will have any long term effect.
Big business is powerful enough it doesn’t need political help. Small business get’s very little political help.
The focus should be on consumers getting the best options which means encouraging competition, tranparency and low barriers to entry (fewer regulations.)
Basically, government should stay out of business. The best regulation is to let businesses fail on their own in a highly competitive environment. The higher the churn (failure rate) the better.