Quote:
Originally Posted by macrich
Why not let AIG fail? Why not let them all fail. At the end of the day, it's corporate survival of the fittest.
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It doesn't matter much if one company fails (say Pyramid building society or HIH or OneTell), but if too many fail at the same time we'll end up with a deck of cards situation where otherwise sound companies fall because the support structure has collapsed and the whole economy implodes.
That sort of situation would mean an almost complete collapse as in the great depression. Unemployment rates of 30 to 50%, almost all work that remains being casualized. Job conditions that take no account of regulations. Safety regulations non-existent.
How'd you like 3rd world wages and conditions because that's all the work that's left?
Not a pretty picture and It's not about corporate survival, it's about economic survival.