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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (50806)	8/13/2013 12:38:18 PM
From: i-node	1 Recommendation Recommended By TimF Respond to of 85487

It's clear to me you either understand very little except what's been spoon fed to you. You do "believe" because in your view of the world, wealth, however derived, is what matters. Even if gamed through a rigged system off the the backs of the poor. Justification of the "rightness" of that system is a necessary ingredient in your belief system. I thought, in a previous post, I explained how the bankruptcy process serves the interests of everyone involved. Everyone is not always happy with the outcome, of course, as it is a negotiation process in which pretty much everyone ends up giving up something. But your approach is to require creditors to give up everything and employees to give up nothing. That makes no sense at all if the employee contracts contributed to the bankruptcy. That is why the GM bankruptcy, which was corrupted by the Obama administration, made no sense: the employees were given preferential treatment over the creditors, and the end result is a company that will be back in bankruptcy at a future date and will not likely be able to secure DIP financing other than from the taxpayers. I think the basic problem is that you and those on the Left think employees are owed something more than a paycheck by their employers. That, somehow, employees take on some kind of equity stake in their employer and that they are entitled to a share of the profits while being protected from losses. This is inconsistent with the legal principles under which businesses have operated for centuries. Sometimes, in a bankruptcy, employees get screwed, but it is typically right along with the rest of the debtholders.