Saturday, December 13, 2008

Bailout by government.

I believe 100% in free enterprise and market driven economies of the world. Over the past couple of months US government has been interfering in private for-profit businesses (Financial and now automotive) and have been educating people "Why the government need to help struggling businesses?". I used to work for Ford and did several project work for GM and have lot of good Friends tied to the automotive industry and do not want to sound as blasting anyone here. I am very passionate and would like to see everyone has a right to work and bring up their families and be prosperous. But the gripe for me is why does government need to bail these businesses? If GM or Chrysler is in the verge of Chapter 11 bankruptcy, so be it - let both of them fail or one of them. These businesses did not have sound decisions and policies and their management has failed to do a thorough job. The shareholders and the stake holders have to unfortunately take the hit here. But in the spirit of capitalism and free enterprise let the market handle it on its own.

1 comment:

Srinivasan Prasanna said...

I would hate to see socialistic decisions like these are being made here in the US.