Bankruptcy, not bailout, is the right answer

Re:Bankruptcy, not bailout, is the right answer by tom_rath on Tuesday September 30, 2008 @03:05PM (#319907)

Huh? And the banks haven't been secretive about their bad debts already?

I think you should research the process of bankruptcy (and the Great Depression) before proposing solutions. Bankruptcy is not evil and does not destroy wealth -- it shoves bad companies aside and makes room for those who stand the best chance of making use of the assets that remain.

It sounds like you're proposing what Japan has been doing for the past decade. Look up "Zombie Corporations Japan" to find out what ultimately happens when you back bad companies with taxpayer dollars to keep them from going bust in order to retain some daft idea of social harmony.

A capitalist system isn't born or sustained by government-managed compromise kicking in when your favourite team loses.

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Re:Bankruptcy, not bailout, is the right answer by swombat on Tuesday September 30, 2008 @06:11PM (#320104)

Huh? And the banks haven't been secretive about their bad debts already?

Of course they have been. That's the core of the problem. Did you even read my post before replying?

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Re:Bankruptcy, not bailout, is the right answer by Retric on Wednesday October 01, 2008 @12:42PM (#320861)

That looked like sarcasm to me. As in there secretive now they where secretive last year so why would a bail out change their mind in the long term?

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Re:Bankruptcy, not bailout, is the right answer by swombat on Thursday October 02, 2008 @06:01AM (#321582)

The bailout is not designed to change their mind long term, it's designed to resolve the current crisis without a great depression.

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