Comments on: Building boring nationalized companies http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Ginger Yellow http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8374 Thu, 05 Nov 2009 12:28:30 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8374 “If RBS can really manage its retail banking network as well as it says it can, that should be just as much of a source of stable and predictable earnings as the auto-insurance business is. ”

Well, yes, but they’ve been forced to sell 14% of their branches.

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By: Linda http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8331 Wed, 04 Nov 2009 17:34:00 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8331 Welcome back. We’ve missed you.

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By: jg http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8330 Wed, 04 Nov 2009 15:21:51 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8330 Although Magma sounds much cooler, it’s actually called Magna. Welcome back!

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By: glory http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8329 Wed, 04 Nov 2009 15:15:25 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8329 http://blogs.wsj.com/economics/2009/11/0 3/barney-frank-on-financial-regulation-o verhaul/ – “He supports making Harvard Law School Professor Elizabeth Warren the first director of the Consumer Financial Protection Agency.”

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By: john b http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8328 Wed, 04 Nov 2009 15:07:39 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8328 Broadly agreed with the piece – but note that RBS never took on ABN’s branches: they went to Fortis, and are now owned by the Dutch government. RBS just took the i-banking business.

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By: odograph http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8327 Wed, 04 Nov 2009 14:56:38 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8327 “A lot [of] auto designers have …”

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By: odograph http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8326 Wed, 04 Nov 2009 14:55:17 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8326 You know, I remember the 70’s, and the worry (or claim) that US automakers didn’t know how to make small cars. We imported some European models then (Merkurs?). That was 30 years ago. A lot have auto designers have passed through university in that time, and I’d certainly assume that economy and efficiency trade offs have been part of the curriculum.

I don’t really buy that onshore makers need to import small and efficient cars (or designs) anymore. They just need to decide to build them.

(Note that for many of those 30 years US makers had a real resistance to building good small cars. Their “entry model” was that, and a placeholder on the lot from which they could up-sell you to a bigger car or SUV. Having the designs available from Europe didn’t change that.)

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By: Benny Acosta http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8325 Wed, 04 Nov 2009 14:51:03 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8325 None of that really matters. So what GM might do better. They should have been allowed to fail. The argument was made many times that a failure of the then “Big Three” would be catastrophic to the economy.

But that would only have happened if the government refused to bail out its citizens. All of the car makers could have failed without hurting the economy if that 787 billion dollars had been spent on keeping citizens afloat while the markets corrected themselves via the “survival of the fittest” philosophy they touted so boldly and proudly not more than a decade or so ago.

Having that money applied to the citizens would not only have allowed families to weather the economic storm, but it also would have put money in the hands of true entrepreneurs. We might well have seen new start up car makers and other such businesses take the place of the bloated and failed ones.

It’s down right insulting and a slap in the face of every American when our leaders discuss our problems in terms of fixing the banking/business sector.

Even though we citizens are the driving force of the economy (because it’s from us that business and innovation spring), we are treated like cattle to be used and discarded. Our economic system is brutal and animalistic. How else would you explain a system that allows individuals, and indeed, whole families to fall into destitution for the sake of maintaining “profitability”?

We are not animals, and we should not be content to live as such.

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By: otto http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/comment-page-1/#comment-8324 Wed, 04 Nov 2009 14:08:17 +0000 http://blogs.reuters.com/felix-salmon/2009/11/04/building-boring-nationalized-companies/#comment-8324 welcome back salmon

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