Too Big to Fail vs Nationalisation

[seabhcan]

I saw an Obama staffee on TV last night and she made a very good point about the nature of modern capitolism. On the one hand we privatise critical public services, on the other we allow giant mega corporations to form through merger. Neither can be allowed to collapse because they are "too big to fail". The state doesn't want to let the market decide if we can have water or electricity or trains and roads. So whats private about these private corporations? Only the profit. The loss is covered by the tax payer.

So, as a rule of thumb, companies should only be allowed to exist in the private sphere if they can be allowed to fail. If they can't they should be either nationalised or broken up.

I wonder if this will be Obama policy.

[Kevin Doyle]

I saw an Obama staffee on TV last night and she made a very good point about the nature of modern capitolism. On the one hand we privatise critical public services, on the other we allow giant mega corporations to form through merger. Neither can be allowed to collapse because they are "too big to fail". The state doesn't want to let the market decide if we can have water or electricity or trains and roads. So whats private about these private corporations? Only the profit. The loss is covered by the tax payer.

So, as a rule of thumb, companies should only be allowed to exist in the private sphere if they can be allowed to fail. If they can't they should be either nationalised or broken up.

I wonder if this will be Obama policy.

No, very little will change as long the Corps fund and steer both parties in the US.

[jfk2008]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

[Pauli]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

...........and there's plenty of them on this site. Just wait for the neo-liberal nutjobs to arrive.

[Kevin Doyle]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

Oops, don't tell that to Clanretard, he seems to think that neo-liberals favour regulation and that the primary argument amongst them is how much.

[seabhcan]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

...........and there's plenty of them on this site. Just wait for the neo-liberal nutjobs to arrive.

Its too early for them. They don't wake up until around 2pm.

[jfk2008]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

...........and there's plenty of them on this site. Just wait for the neo-liberal nutjobs to arrive.

I'm including ideologues from the far left in that comment. I'm a pragmatist not an ideologue.

We need to look at the countries that have achieved a high degree of prosperity, fairness and economic stability then copy and adapt their economic models.

[Kevin Doyle]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

...........and there's plenty of them on this site. Just wait for the neo-liberal nutjobs to arrive.

I'm including ideologues from the far left in that comment. I'm a pragmatist not an ideologue.

We need to look at the countries that have achieved a high degree of prosperity, fairness and economic stability then copy and adapt their economic models.

That would be the Scandinavian/Germanic/Singaporean models.

[Pauli]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

...........and there's plenty of them on this site. Just wait for the neo-liberal nutjobs to arrive.

I'm including ideologues from the far left in that comment. I'm a pragmatist not an ideologue.

We need to look at the countries that have achieved a high degree of prosperity, fairness and economic stability then copy and adapt their economic models.

That would be the Scandinavian/Germanic/Singaporean models.

Indeed. Greetings from Switzerland

[Dublinguy]

Good idea. The one positive thing about this current crisis is that faith in unregulated free markets will be badly shaken. Hopefully we'll then see the widespread adoption of the Scandinavian/German/Singaporean economic models. Prosperity, fairness and stability: only the most deluded ideologues would object.

...........and there's plenty of them on this site. Just wait for the neo-liberal nutjobs to arrive.

I'm including ideologues from the far left in that comment. I'm a pragmatist not an ideologue.

We need to look at the countries that have achieved a high degree of prosperity, fairness and economic stability then copy and adapt their economic models.

That would be the Scandinavian/Germanic/Singaporean models.

Indeed. Greetings from Switzerland

Remind me again how UBS/Credit Suisse are doing!!!