Potent Quotables (updated periodically)

  • "If you like sausages and laws, you should never watch either one of them being made." -- Otto von Bismarck
  • "God who gave us life, gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that his justice cannot sleep forever." -- Thomas Jefferson
  • "The best way to prove a stick is crooked is to lay a straight one beside it" -- FW Boreham
  • "There are two kinds of people in the world. Those who walk into a room and say, 'There you are' and those who say, 'Here I am'" -- Abigail Van Buren
  • "It was not political rhetoric, mass rallies or poses of moral indignation that gave the people a better life. It was capitalism." -- Thomas Sowell

Tuesday, February 17, 2009

BANK-ruptcy

When it comes to businesses going down the tubes, I am not in favor of nationalization of businesses, or industries. I am in favor of creative destruction. This post gives a different spin to the debate on nationalization - the author suggests calling it a bankruptcy, because that's what it is - as long as the government is not involved in running the newly reorganized firm. For the life of me, I can't find much to criticize about his points. Read it and see what you think.
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  1. GrimpFebruary 18, 2009 at 8:59 PM

    I'm inclined to think the most important thing that happens (or should happen) is that companies and individuals who have made a series of poor choices are forced to come to terms with those choices. Unfortunately, some of the key choice makers (ie Fannie Mae and Barney Frank types) will likely never have to answer for their errors because their cronies protect them in a thin candy shell. And for some reason, the public allows this to continue.

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