xssve
Literotica Guru
- Joined
- Feb 11, 2007
- Posts
- 5,854
These are just off the top of my head in fifteen seconds ( I'm not even trying hard )
Government mandated Methyl Tertiary Butyl Ether ( MTBE ) oxygenates, 1993.
Government subsidized and mandated corn-based ( i.e., maize ) ethanol (as opposed to sugar-based [ which is prohibited ] ) as a gasoline additive, 2006.
Government mandated award of wireless spectrum to minority operator ( c. 1993 ) [ the minority owner did not have the capital necessary to build the wireless infrastructure and ultimately declared bankruptcy; by filing for bankruptcy, the owners were enabled to auction the spectrum to the highest bidder { thereby reaping a windfall profit simply because of the original award }].
Department of Energy ( 1979-1986 )
( gurarantees provided- zero, nil, none, nada )
Federal National Mortgage Association ( a/k/a "Fannie Mae" ) 1938
( bankrupt, 2008- cost to taxpayers, $100 billion-?????)
http://en.wikipedia.org/wiki/Fannie_Mae
Federal Home Loan Mortgage Association ( a/k/a "Freddie Mac" ) 1970
( bankrupt, 2008- cost to taxpayers, $100 billion ?????)
http://en.wikipedia.org/wiki/Freddie_Mac
The Savings & Loan Industry
( bankrupt, 1990- cost to taxpayers, $125 billion-?????? )
http://en.wikipedia.org/wiki/Savings_and_loan_crisis
At what point do you separate "government" from special interests?
As I recall the S&L debacle was the result of deregulation.
Fannie Mae and Freddie Mac have operated at a "profit" since 1933 - they got into trouble when they exceeded their mandate and started dabbling in Prime real estate, which is where the spec sharks operate.
By this logic, GM should have never incorporated, or any firm, for that matter, that gets into trouble at any point.
Hint, we would have no airline, or automobile industries, or much of any industry for that matter - what is the multiplier effect of the National highway system? The regulatory environment in mass media?
You want to debate externalities, it cuts both ways.
One of the reasons GM is in trouble, is that the bulk of their cash is tied up in pension funds, which include healthcare - it's a little thing called "dependency ratio".
Believe me, every firm with a pension fund or healthcare plan has their fingers crossed that some form of healthcare will pass, it will greatly reduce the cost of doing business for them, and that means more jobs, at least theoretically.
The opposition is largely the healthcare industry itself, which has become accustomed to bloated profits.
Take a look at the overhead costs of Medicaid and Medicare compared to the average HMO, and guess why the premiums are so high.
Guess what? Government workers do have salary caps, and bonuses are extremely limited - Fannie Mae and Freddie Mac are private companies, and the shit that happened under Raines was a direct result of the Bonus program he instituted - it was right then they started cooking the books to maximize their bonuses.
Bonuses are tricky: a bonus is incentive, and people respond to that incentive - if the incentive is diseconomic, guess what's going to happen?
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