Bailout analogy

Your cousin is charged of a crime and is put in jail.  You know he’s the type that will run if guilty once bailed out so you refuse to put up the bond to free him.  Your soft hearted brother however decides to take the risk and puts up the money.  Surprise of all surprises your cousin bolts.  The collection agency comes to collect the bond fee from your brother only to realize it will bankrupt him and put his longstanding community business out of work.  Thus, government steps in and decides that you’re going to pay part of the bond so your brother doesn’t lose his business.  Even worse, your brother publically thanks government for their help and acts like you had nothing to do with it.  Sounds fair right?

This entry was posted in Uncategorized by . Bookmark the permalink.

14
Leave a Reply

Please Login to comment
14 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
2 Comment authors
TryangleDenisJ Galt Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
J Galt
Guest
J Galt

Reminds me how the government steps in and decides that you will bailout someone else for having children they can not afford, Making you pay part of their education, transportation, housing, daycare, etc …

Denis
Guest

J Galt,
Sure, though in that case you’re paying to hopefully turn them into productive contributors of society which is better than the alternative.
Mind you I have long questioned whether it would be warranted to try to discourage such behavior through things like mandatory vasectomies for guys who have multiple children they cannot afford. Similarly Tubal ligation for women who do the same. Alternatively you could reward people for not having children.

J Galt
Guest
J Galt

“Sure, though in that case you’re paying to hopefully turn them into productive contributors of society which is better than the alternative.”
Right you are paying for the poor life choices that others have made, and they are being rewarded for their bad behavour. We foot the bill and they still mess up the kids who repeat the exact same mistakes.
Sounds like the productive members of society are being held to ransom and will be overwhelmed by the ever increasing population and demands of the unwilling and unable.

Denis
Guest

J Galt,
If given the right tools kids should have better opportunity to climb out of poverty.
It is easy to say stop paying for these things but you then have to deal with the consequences such as higher crime.
What recommendations do you have to encourage the behavior you would like to see?

J Galt
Guest
J Galt

For one I think citizenship should be granted based on merit not nepotism.

Tryangle
Guest

Going back to the first comment, is the belief that education and transportation should not be provided by government? Because as of now I can’t see the relation with bad decisions made by persons/corporations…

J Galt
Guest
J Galt

Ok, for example the cost of educating a child in the BDA public school system is around 17,000 a year, Government takes the expense from the person/s who had the child, and shifts it to all taxpayers.

J Galt
Guest
J Galt

The government may be quick to claim the credit for helping parents but ultimately this action is little more than shifting the expense from one group of people to all people. Isn’t this action grossly unfair for those people who had no say in the parents taking on this expense but have been looped in when it comes to paying the consequences?

Denis
Guest

J Galt, The question would be whether we’re getting what we pay for. Take prison as an example. Here you have the overall population paying ridiculous sums to ensure that criminals are separated from society and hopefully rehabilitated. Another example of shifting expense from one group to all. Would you advocate eliminating prisons and letting these people stay amongst society regardless of what crimes they commit? Then we get to the education issue. Would you rather all youth who cannot afford it go uneducated? Uneducated people contribute far less to society than highly educated people. The higher the education, the… Read more »

J Galt
Guest
J Galt

I think the question would be
What is Government’s legitimate role?
If government where not in the business of Education, then they would not have been building a school, choosen Proactive for the project which came in way over budget, paid UAH for a bond they (UAH) couldn’t afford to honour, and finally written off the between 6.5 and 15 million (depending who you believe when it comes to interest etc..)
Going back to your question are we getting what we paid for, the answer of course is no.

Denis
Guest

UAH could actually afford to cover the bond from what I’ve read. They put their buildings up as collateral. If that collateral is sufficient then they could have been required to sell those buildings to government and start renting or take out a mortgage on the properties to pay off the debt. Government could have found a happy medium in providing @ cost interest on such a mortgage such that the union wouldn’t have been hurt as badly by paying off such a debt. — I’m not a firm believer that government should be in the business of doing much… Read more »

J Galt
Guest
J Galt

“UAH could actually afford to cover the bond…”
Excellent idea, shame people are elected on popularity instead of ability, why didn’t the government think of that?
“..I’m not a firm believer that government should be in the business of doing much of anything as far too often government is not very efficient and effective when it comes to business.”
We seem to agree on a lot except I believe you would want government to fund each child’s education, where I think it should be the parents responibility.

Denis
Guest

As a moderately green centrist I am not at all surprised that we agree on some things while are likely to disagree on others.
As suggested, I don’t believe it is government’s responsibility to be in the ‘business’ of things however I do believe governments responsibility is to regulate business to ensure fairness and equality while also providing support for initiatives which provide positive returns for the people.

Tryangle
Guest

Thanks for the discussion as relates education and government’s involvement.
How about public transporation? If public transportation was fully privatised, would there even be a fully-functional St. David’s route, for example? Can you even run a proper bus service at a profit? I’m thinking no – admittedly I do not know the rates charged and service hours of the various ‘minibus’ services in certain parts of the island – but I can’t see a business willingly going into the bus industry.