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Its truly odd that there is such hostility toward the auto bailout despite being relatively small where as 100's times this amount is being used to bailout idiotic financial institutions.
If you're going to block such things, block it all. Let the system collapse, of course those in congress are wealthy and if the established system collapsed so would their wealth....
To some extent, I see where you're coming from; however at the time it was thought that "saving wall st." would benefit us all, including the auto industry and other businesses.
Of course, many of us knew it was just a pandora's box and a slippery slope.
Humo, I agree. I find this fascinating and distinctly bizarre. What's $15 billion for the auto industry amount to? Not much compared to the lists of zeros on the financial industry bailout numbers.
there is no hostility. there is just realization that their numbers don't work. GM has too many retirees for too few employees and they will have to cut jobs to keep functioning, which would give them even more retirees. they are going to fail on the course they are on, whether they get taxpayer money or not. i prefer that taxpayer money is not involved in their failure but obviously taxpayers don't get a say. by the way, they are lying about the numbers. they want 15 billion now but they would have to get 110 billion more with their current rate of production.
Its truly odd that there is such hostility toward the auto bailout despite being relatively small where as 100's times this amount is being used to bailout idiotic financial institutions.
If financial institutions are not solvent, then people will have to start saving in their mattresses.
Its truly odd that there is such hostility toward the auto bailout despite being relatively small where as 100's times this amount is being used to bailout idiotic financial institutions.
If you're going to block such things, block it all. Let the system collapse, of course those in congress are wealthy and if the established system collapsed so would their wealth....
Agreed. Especially when we have spend $700 billion to save the banks, who are the one who started this mess. Futhermore, we spend about $12 billion in one month in Iraq, for a war that we still cannot even name a reason for.
We can't continue to function with this Wal-Mart strategy we've adopted. Japan, China, Korea, Italy and France all support their automotive manufacturers. The US cannot be a world player if you can't even support our core manufacturing.
Hey, my interior design firm is failing and I just laid off my assistant. Can I get some bailout action as well?
The US isn't in particular need of interior design firms, manufacturing on the other hand is rather important right now. Especially considering its been hallowed out by the same people that are receiving the largest bailouts.
If the government lets the US autos fail...its going to cost more in the long run. When you are standing in the soup line....remember your ideology.
The US cannot be a world player if you can't even support our core manufacturing.
I might, just might have agreed with you if they had a good business model.
But they don't..Honda and Toyota here in the US did much better and have a better model. Honda and Toyota can take over and become "The Big Two" and would probably make a better go of it. I would rather loan money to companies that change with the times instead of trying to maintain the status quo at all costs and then turn to the government for a handout when they can't.
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