Tuesday, May 17, 2011

Real and Imagined Problems

This Los Angeles Times article starts out with a knock on Deutche Bank that is defensible, and ends with indefensibly whining about the non-union south gathering up all the new jobs. To be sure the owner of properties is responsible for them. If the loan servicer isn't doing its job, the owner should make it happen, or get a new servicer.

On the other hand, the southern U.S. has a long history of being anti-union and is, as a result, a job magnet. A job magnet not just for foreign firms but for U.S. firms as well.

Here is a thought experiment: could a northern state in economic distress, perhaps Michigan or Ohio, pass a right to work law and in other ways make itself attractive to employers? Might they begin to pull back some of the lost jobs? Put to work some of the empty factories? Just sayin....