From: Mark Steven Heyman (markheyman@infoproconsulting.com)
Date: Sun Aug 01 2004 - 23:30:47 BST
Hi all,
This post is along the lines of Arlo's earlier one referring to a CNN
report on the failures of privatized medical services.
I know the "free-enterprise" part of this thread has petered out, but
some of you might be interested in a story in today's NY Times. It
seems that United Airlines intends to blow off it's employee pension
obligations, some USD 13 billion, in an attempt to cut costs.
http://www.nytimes.com/2004/08/01/business/01PENS.html?hp
Since these funds are Federally insured, this means that American
taxpayers will be forced to bail out the bankrupt airline. Experts
think that other airlines will follow suit, resulting in a massive
bailout strikingly similar to the S&L scandal of the 80s.
These are just two examples of the illusory, if not fraudulent, "free-
enterprise" system at work, where wealth influences government policy
so that R&D and other costs, especially risk, are socialized while
maximum profit is privatized. This is why it's always so funny (if
it weren't so sad) to hear "capitalists" screaming about the evils of
socialism and government "interference" in their businesses. Sigh...
Best to all,
Mark Steven Heyman (msh)
-- InfoPro Consulting - The Professional Information Processors Custom Software Solutions for Windows, PDAs, and the Web Since 1983 Web Site: http://www.infoproconsulting.com "Thought is only a flash between two long nights, but this flash is everything." -- Henri Poincare' MOQ.ORG - http://www.moq.org Mail Archives: Aug '98 - Oct '02 - http://alt.venus.co.uk/hypermail/moq_discuss/ Nov '02 Onward - http://www.venus.co.uk/hypermail/moq_discuss/summary.html MD Queries - horse@darkstar.uk.net To unsubscribe from moq_discuss follow the instructions at: http://www.moq.org/md/subscribe.html
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