Go Back   Bloggingheads Community > Life, the Universe and Everything
FAQ Members List Calendar Search Today's Posts Mark Forums Read

Notices

Life, the Universe and Everything Post comments about everything else here.

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old 03-20-2009, 03:52 PM
uncle ebeneezer uncle ebeneezer is offline
 
Join Date: Feb 2007
Posts: 3,332
Default Who is John Galt? Who Cares?

One thing I love about MY, he doesn't hold back.

http://yglesias.thinkprogress.org/ar..._john_galt.php

Quote:
Carol Baum: Welfare CEOs are Just Like John Galt

Bloomberg columnist Carol Baum puts together a baffling analogy:

The hero of Ayn Randís ďAtlas ShruggedĒ is smiling because heís seen it all before: the governmentís intervention in the private sector; the constraints placed on business in the name of the people; the desperation on the part of government bureaucrats when they realize their leverage is limited; and ó this part is still fiction ó the decision on the part of business leaders to walk away from the enterprises they built. [Ö] The government needs Liddy and Citigroupís Vikram Pandit and Bank of Americaís Ken Lewis to continue working to restore their firms to prosperity in the same way the looters in Randís novel need Hank Reardon and Francisco díAnconia and Dagny Taggart, respectively, to run their steel mills, copper mines and railroad.

Atlas Shrugged is a stupid book, Ayn Rand is a stupid woman, and John Galtís ideas are stupid. That said, none of them are nearly this stupid. Randís novel isnít about a world in which executives who build companies based on a lot of incorrect decisions, then pay themselves millions of dollars while bankrupting their firms, then come to the government hat-in-hand asking for bailouts, then find that the bailers-out want to attach some strings to their hundreds of billions of dollars in public funds and then go to hide out in Galtís Gulch. That doesnít make any sense at all.

If the folks running Citigroup and Bank of America and AIG were good at their jobs, we wouldnít be in this situation in the first place. Thatís the point. But they werenít good. They lost staggering sums of money. Their companies went broke. They had to beg for taxpayer dollars. You donít get to do that and then turn around and ďgo Galt.Ē

Last edited by uncle ebeneezer; 03-20-2009 at 04:32 PM.. Reason: missing link
Reply With Quote
 


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 02:16 PM.


Powered by vBulletin® Version 3.8.7 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.