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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (289921)1/28/2009 8:49:25 PM
From: Bearcatbob2 Recommendations  Read Replies (1) | Respond to of 793895
 
What I think is needed is for the government to put in place a basic human safety net for people and then let bankruptcy wash out the excesses in the system. Contracts need to be rewritten - including feather bedding work rules. Bad debt needs to be written off. What we are doing now is to try and revive a failed model. Unless the bad is removed and replaced with good it will only get worse. There is a huge amount of pain to be suffered in the transition.

Bob



To: KLP who wrote (289921)1/28/2009 8:56:42 PM
From: ManyMoose  Read Replies (4) | Respond to of 793895
 
Just got a call from my brother. He says his employer is going into Chapter 11. His 401k went bye bye because he had it in company stock. I remember telling him that's a bad idea, but he doesn't blame me. He blames the CEO, who got a big bonus while taking the company's market value down to 25% of what it was.


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