People were big for the bailout of banks, but they did not realize how government money has strings attached. Government wants to regulate the compensation of its executives in the companies it bought interests in, government wants to restrict the marketing practices where you can not name the stadium that was just built Big Bank Company Arena.
Nationalization of industries does have implications for freedom for individuals. Nationalization of our banks actually has bit New York state in the ass. New York State relied upon the big bonuses from these financial industry titans because they got taxed on these bonuses. The limit from the government is going to do one very good thing, make business not willing to take governmental handouts.
When these financial industry businesses are suffering and they are crying for mercy it is understandable that we as taxpayers don’t want these businesses taking junkets at the Four Seasons or excessively spend money to redecorate their offices. These businesses choose to be enslaved by the government and they get to suffer the consequences.
Yes, I hear the arguments from Rush Limbaugh that these businesses should be left alone, and its agreeable that in fact, the new jets Citibank had ordered does employ people in the construction of these high ticket items. However corporations need to become more tactful in the era of a depressed economy because the demons of nationalization and socialism will come creeping close.
The solution is to increase the regulation of the financial industry so we would not have any of these problems we recently experienced while ending the micromanaging of the running of these institutions.