city transit needs a bailout too!

[floridasandy]

i applaud all of the decent hard-working citizens!

speaking of the issue home ownership, this is also unacceptable:

But Bernanke said more can still be done and outlined several "promising programs." One was FDIC Chairwoman Sheila Bair's plan, which would reduce mortgage rates, extend loan terms and offer government insurance against bank losses if borrowers who receive help end up in default anyway.

Another proposal includes strengthening the Federal Housing Administration's Hope for Homeowners program by reducing the premiums paid by the lender. Bernanke suggested that Congress could give FHA the ability to set premiums on a case-by-case basis rather than an across-the-board approach.

if this goes through, americans will have to subsidize the cost of delinquent mortgages of others. fairness has left the building in america.

[sunsprit]

Not one of those transit systems has been a financially viable operation since their inception.

Every one of them has been entirely dependent upon public funding for capital investment and infrastructure, as well as daily operating expenses ... fuel, energy, labor, and the big fat salaries they pay to their executives and management staff.

In many system areas, folks operating a car getting over 30 mpg are more fuel efficient, especially if they carpool. Obviously, there are other considerations, such as parking, traffic density/commute time, insurance/licensing, and the responsibility of vehicle maintenance costs ... which work to favor public mass transit in densely populated city areas.

So, we've already been paying a dear price for the convenience of those folks who are using the mass transit systems. Now they're coming back for more money to continue to operate without any corresponding increase in the service they provide. IMO, that money should come from the ridership of the service paying most of what it costs to provide it, not from the rest of us.

In the same line, just so we're on a level playing field here ... I don't believe that the Big 3 automakers deserve a bailout, either. If you can't build a competitive and desired product in the marketplace, then it's time to fade away. Buggy makers, horse harness makers, and many other manufacturers of historically nice products/cars had their time ... and have come and gone while other products have replaced them. Seen any new mechanical typewriters on sale lately? Dot matrix printers? Floppy discs? Blacksmiths (with the rare exception of a few "artisans" or hobbyists?) Carpenters that work only with hand tools? (even the Amish craftsmen use compressed air motors to power their production carpentry/cabinetry/furniture making equipment ...) Plumbers using old style gasoline torches instead of propane or acetylene torches? or for that matter, cast iron drain pipes? Automotive techs not using a computer driven diagnostic device for modern car repairs? Automotive tires shops that use hand-power tire changing equipment and inflate tires by hand pump?