U.S. Needs Exit from Corporate America
June 15, 2009
While many corporations and business entities once clamored for government bailout money at the height of the recent financial collapse, the government's continued presence and influence in decisions being made is having a negative impact on the recovery process.
Recent testimony before Congress illustrates the complexity of being fiscally involved with partisan entities: decisions are pushed for political reasons and the persons making the decisions generally have very little understanding of the choices they are pushing nor their consequences.
Granted, the government is not intentionally working to make things difficult, but it is ill-prepared to deal with the complexities and intricacies of many businesses and seemingly fails to understand the ramifications of even the most mundane decisions.
It is our opinion that much of the recovery that has taken place would have occurred without government intervention; most businesses are solid and were dragged down by the banking industry, which also deflated the housing market with their greed and questionable actions.
The difference between government action and inaction being then most likely a slower recovery, and the billions and billions of dollars that have been spent in the meantime to keep failing companies on life support when they should have been left to die and have their assets purchased by others in the market.
Think of it as the corporate circle of life.
Now, we have a handful of directionless companies (think automakers) that have put our nation into unprecedented levels of debt and have no clear path to become profitable or even functional again, and we're all, as tax payers, on the hook for the bill.
We urge members of Congress and the administration to detach themselves from the various industries they have hooked into and let the chips fall where they will for these companies that have been deemed , incorrectly, too big to fall. It is called controlled destruction and is a necessary ingredient for progress to be made, and purges the people and methods that have become ineffective.
Contact your elected officials today and tell them that it's more than time to extricate the government from endeavors they don't fully understand and stop the hemorrhaging of taxpayer dollars.