Privatize Profits, Socialize Losses

big3carsmakersThe world governments are trying their best to bail-out ailing companies. The Obama government in particular is being criticized for using tax payers money to save companies like the big three car makers.

The critics call this principle, "Privatize Profits, Socilaize Losses". The ailing companies have reaped profits during pre-crisis years. These companies and their executives have enjoyed the best of lifestyles, millions of annual salaries and fat bonuses.

The present crisis have crippled these companies. Stilumus funds are being used to get these companies back on their feet again and have the economy start rolling. The stimulus funds used by governments are taken from tax payers money. The bail-out funds are being shared even by the smallest income earners. If these companies will be back to their feet again, will the people be able to share their profits?

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About the Author

Ver Pangonilo

A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) – Australia and Professional Electrical Engineer (PEE) – Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).

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