In the NY Times today: Opponents of GM sale have until noon today to appeal.
Here’s whats on my mind – when problems seem so complex, and areas seem grey, the way the most successful people have navigated complex issues where perspective is hard to grasp and possible outcomes are hard to see, the way through is with their principles.
If you do the right thing, you will have the right outcome even if you can’t see that outcome. When faced with a choice, it really need not be any more complicated than that.
With these bailouts as an example and our politicians – what seems to be apparent in hindsight is that these bailouts, to me, seem to be more about protecting votes than about fixing problems. Problems that they, our government, created in the first place with their meddling in the free-market system. Instead of realizing that their meddling is what caused the problem and therefore knowing to cease meddling so the problem would be solved, they think they need to meddle even more.
Definition of insanity: Keep doing more of the same and expect different results.
When the government exercises the power to ignore our laws and place selfish interest above those laws, this shakes the very foundation of our nation which is based on law. Bond holders have a legal contract that they entered into knowing they’re taking on a certain amount of risk by default, but that they can always count on the rule of law to protect their rights. When that right is taken away, how can any of us ever enter into a contract with any assurance that the government might not just change the rules and not protect our rights?