Rather than bailing out companies that have been consistently mismanaged and have failed to serve the public interest, and rather than just letting them fail, Congress should provide for the option of having the employees of the company take control, and reserving bailout funds as loans to worker-controlled corporations. In a bankrupt company, stockholders have already lost their stake, but employees have a very direct interest in correcting mismanagement in order to keep the company in business. In particular, employees have an interest in making management decisions that will maintain their jobs where they are, rather than sending them overseas.
This might mean accepting lower wages or benefits in return for job security, but that would be a better bargain than workers now get, when they make concessions without any assurance that their jobs will thereby be saved.
http://www.laprogressive.com/2008/11/20/keeping-jobs-at-home-give-the-workers-control/
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