In a new blog (here comes point number three) on 12/3, Robert Reich points out that while we are scrambling to "rescue" financial capital, we are ignoring and squandering human capital. I.e., while we work harder and harder to keep solvent and propagate the financial frontispieces of our economy, we are ignoring the workers and the human infrastructures that constitute the lifeblood of our culture (and perhaps even our existence).
The realities and the disappointments of the Wall Street rescue plan are becoming more obvious every day, and we surely do not need to have a repeat performance when it comes to Detroit, even if it is on a much smaller scale. But we cannot merely set the auto industry completely adrift, either. We should find a method and pathway that will rescue the untapped potentials that are lying about to be optioned nearly for the taking. But, as we learned from the Wall Street debacle, that old line about "too big to fail" is too big to swallow. And this applies equally to Detroit. There is much crow to eaten in the near future. Sadly there is plenty go around, and the Big Three should figure that out and ditch the caviar along with their corporate jets. But unless we want to re-enact the champagne breakfasts of AIG, we had better make sure that everyone knows that rot gut red is all there is with which to drink it down.
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