Quote:
Originally Posted by turbo6bar
Not sure a government takeover via massive capital injection is capitalism. Capitalism is allowing GM to go into bankruptcy and emerge to start again. The lure of profits must be tempered by the risk of failure. Otherwise, we will make these mistakes, again.
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My point focused on accountability. Boards are no longer protecting shareholder value and are in cahoots with the C-level execs they hire. GM share price is down 97% while Wagoner was leading the company and walks away with $20M.
Rewarding failure is not part of Capitalism, yet here it is on a scale beyond belief.