Damned socialists.... public subsidies (limited liability) allow these guys to keep their personal assets separate from their business assets (or liabilities). Now they get to destroy an entire region and poison the life-blood of hundreds of thousands, or even millions, of people and the cost of clean-up will be borne by the public (or more likely the public will just eat the loss of that entire region). BP, TEPCO, and now these bozos.... they represent the worst kind of socialism... Is there an insurance policy in existence, or even enough money on this planet to repair the damages caused by these privately owned businesses? Should the public be made to be the insurance policy for private business? It seems to me that any industry which requires the public to assume so much risk should be either prohibited, or the public should own that risk (and that business) from the outset. You can read that into oil/gas/nuclear industries, GMO/pesticides, pharmaceuticals, and banking. Everywhere we look were seeing the public picking up the bill while the shareholders pocket the dividends. Even our markets are no free as long as this is the case. You cant know the value of anything or make informed investments if the markets are deceived. Either let these companies die from their inability to cover their liabilities, or take those industries and put them in public hands. At least then well be clear on the publics responsibility for those industries.
Posted on: Sat, 18 Jan 2014 20:05:37 +0000