Massive non-performing loans that force major financial institutions into insolvency. Significant state investment in manufacturing industries. National governmental leadership in product planning. Taxpayers "profiting" from equity investments in quasi-private enterprises.
What nation do you think I'm referring to? Could be China, but no.
The United States has apparently embarked upon the creation of a quasi-capitalist economy with socialist characteristics:
The Democratic lawmakers said federal aid should come with "strong conditions," such as requirements that car makers build more fuel-efficient vehicles, and equity stakes for the government so taxpayers could profit if the companies recover.
A re-run of the last 25 years of a Chinese state-led market economy, Americanized?
Comments (1)
don't worry about the promsies you've made to the government about dividend payments. When the going gets rough, just explain to the government that you can't afford to make them. You'll be able to recut this deal later. Just tell the Treasury you'll lose your key people if you can't pay them well enough. don't worry about restrictions on bonuses. You'll be able to recut this deal later. Just tell the Treasury you'll lose your key people if you can't pay them well enough.don't worry about limits on dividends to shareholders. Simply claim that those restrictions are preventing you from raising necessary private capital.
Posted by AmyRoberts![[TypeKey Profile Page]](http://www.asiabizblog.com/nav-commenters.gif)
|
November 19, 2008 6:49 AM
Posted on November 19, 2008 06:49