The banks have been promised rescue packages; the automobile industry has come knocking. Political leaders are deliberating whether to provide carmaker Opel with loan guarantees.

Governments should extend their rescue plans beyond the banking sector because they have already set a precedent. Denying other sectors the state‘s intervention would mean the state ignores its responsibilities.

The state has a responsibility towards its citizens whether corporate or otherwise. Among others is economic stability. There is this looming job cuts that might result from corporate wind-ups this in turn impacts the economy negatively. With reduced disposable incomes among the population there is bound to be unrest all around.

Governments therefore cannot simply ignore the impact of wage losses to the economy. The automobile industry is a key contributor to the state treasury in some economies; in terms of tax contributions for the individual employees and the companies involved.

All major stakeholders affected as a result from shareholders wealth that is the major role of the managers to salary cuts and job losses of the managers. The suppliers, clients and the government not spared either as businesses go into liquidation.

With the UK being the recent culprits of this global credit crunch, it finally announced that the UK was now in recession. As a result recent trends have indicated many British founded firms with overseas operations changing strategies through suspending overburdened branches and some completely closing shop.

Gateway Television service (GTV) with operations in Uganda and most African countries recently suspended its African operation citing financial problems. A recent statement revealed that GTV actually went into liquidation.

Many employees have lost jobs, which in turn has affected disposable incomes of many households. The tax authorities too are not spared as this directly affects their annual targets. There are no incomes to charge the tax. Governments can therefore not meet their goals of shifting from donor-funded budgets, which will continue to overburden their economies through high interest rates.

It is against this background that governments should recognize and identify the trend of events and contribute towards revamping the economy. Inclination to the banks and ignoring other industries is not a wise move for economists since there are other major contributors to government coffers.