Wait. I Thought Bankruptcy Was Not An Option...

Wait. I Thought Bankruptcy Was Not An Option…
By R.J. Fee

During his recent campaign for his party's presidential nomination, Mitt Romney stated that the best option for the failing car companies was a controlled bankruptcy. This notion was of course scoffed at by those who felt loaning billions of taxpayer money to failing companies with deeply flawed business models would fix the problem. Of course, these companies had no viable way of altering their business model in any appreciable way (without bankruptcy that is), thus insuring that the taxpayer money would be a very short lived benefit to the companies. Today, we find out that after wasting $1.5 billion in taxpayers’ loans, Chrysler is declaring Chapter 11 bankruptcy. Now those who claimed that the $1.5 billion loan was necessary, because “bankruptcy is not an option” are now trying to spin the story again. As if you would just forget that the same could have been done $1.5 billion ago.

Here is the bottom line. No person, company, municipality, state or nation is too big to fail. We must get past those who try to claim that a situation is different because of some nuances that create a unique situation. The ancient Greeks promoted the concept of the macrocosm and microcosm (seeing the same patterns reproduced in all levels of the world around them from the largest scale all the way down to the smallest scale). The world is not difficult to comprehend when you approach it from this angle. When our politicians use complicated and technical terms in an attempt to confuse and deceive the public, simply break it down to a scale that matches your experience. Whether it is loaning money to irresponsible companies, homeowners, cites, or states the concept does not change. They are throwing your good money after bad.

Use the method of the macrocosm and microcosm to cut through the continuous onslaught of garbage spewed by our politicians in an attempt at deception.