Quote:
Originally Posted by NASTY99Z28
As far as the companies being held accountable for the money they borrowed they should have to pay it all back plus interest just like we would have to if we borrowed money. Now the money that won't be paid back for whatever reasons you can't completely blame GM for that since it was the government that agreed to those stipulations which is yet another reason why we are so screwed up these days. Hell how many of the people that trash GM for taking money and not paying it back have filed bankruptcy themselves? Alot but because it wasn't such a large amount or directly paid for by tax payers they feel it's ok right? Wrong! That debt tricked back down to every single one if us so take your share of blame right along with everyone else who just said screw it and let all there debt go and blame it on the banks for letting them do it. End rant.....  |
I think this is a good point. I'd add though that personal bankruptcy is part of a larger problem. Society in general no longer has much respect for property rights.
Look at any retail store. They just build in 10-15% overhead for theft and pass it along to the other customers. When an employee does the right thing and stops a thief, it's the employee that gets in trouble, and maybe fired.
When the cops are called for theft, and the suspect is even identified on store cameras, they still blow it off. Cops treat ordinary theft like jaywalking. Cops don't care, because their communities don't care.
Bottom line, society as a whole has been conditioned to think little of property rights (you didn't build that!), so it's not much of a stretch for people to declare bankruptcy, pass the cost to others, and move on without blinking an eye.
As a larger point though, the general lack of respect, makes it FAR more easier for GOVERNMENT to take people's property and money and squander it as they see fit for their politically connected friends.
Look at how many people right here on this forum defend the bailouts even though the executives and unions got rich off taxpayer money while the SECURED BONDHOLDERS had their money taken.
In a just world, private property would be respected as much as personal rights, including using deadly force to justly defend it. And don't think your personal rights are safe now either. It's a slippery slope, and we're already half way down it.