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Considering the heads of the big 3 took their private planes to the meetings in Washington, vs flying commercial--I don't think we're going to see any management concessions. For reference, see: AIG
Why not bail out the big 3? They want to bailout the idiots who financed more than they could afford to pay back. They want to bailout the banks themselves, they want to bailout wallstreet. Might as well bailout the big 3 as well. Hey we have been bailing out other nations, we send billions in foreign aid to countries who actually dislike us. We have been bailing out Iraq even though they have some serious oil money comming in. We even bailout Israel with aid money. A country that is very wealthy by most standards. Whoa we might as well assume the entire worlds debt.
Or we can make these greedy CEO's tighten up their budgets. We can make our global trading partners play by the rules or deny them access to our markets. But before we can reasonably to these things our own gov needs to write a budget that does not exceed its revenue because who are they to preach to anyone when they can't cut any fat from their own waist and spend policies. The big 3 asked for 65 billion. Thats a little less than twice what we spend in foreign aid each year. ( I believe it was around 37 billion last year). I submit that I would rather see that money spent here than anywhere else.
Why not bail out the big 3? They want to bailout the idiots who financed more than they could afford to pay back. They want to bailout the banks themselves, they want to bailout wallstreet. Might as well bailout the big 3 as well. Hey we have been bailing out other nations, we send billions in foreign aid to countries who actually dislike us. We have been bailing out Iraq even though they have some serious oil money comming in. We even bailout Israel with aid money. A country that is very wealthy by most standards. Whoa we might as well assume the entire worlds debt.
Or we can make these greedy CEO's tighten up their budgets. We can make our global trading partners play by the rules or deny them access to our markets. But before we can reasonably to these things our own gov needs to write a budget that does not exceed its revenue because who are they to preach to anyone when they can't cut any fat from their own waist and spend policies. The big 3 asked for 65 billion. Thats a little less than twice what we spend in foreign aid each year. ( I believe it was around 37 billion last year). I submit that I would rather see that money spent here than anywhere else.
I was against the big trillion dollar bailout as well. I'm also very suspicious of that secretive $2 trillion of loans the fed handed out (above and beyond the 700 billion) without congressional approval that we have no idea where our money went or what securities the banks are pledged in return. They don't want to say, must be good for the tax payers. That's a total scam and we should be far more concerned about that then the 25 billion.
In fact, I'm for the gubmint to keep as far away from our business as possible. Every time they touch something, they make it worse.
Foreign aid I somewhat agree too. Some of it we pay for our own security but knowing our gubmint, I'm sure we don't get our monies worth. Who knows, maybe that's how our politicians get so rich.
Please everyone, write your Congressmen, Senators, etc., and urge them NOT to bail out the big 3 automakers. These companies operate under tremendous waste and greed. Overhead is inflated by union demands, outrageous pensions. They have no incentive to make and market a product that the public wants and now they are crying the economy is hurting, so they are hurting and so many people will be laid off.
I can sympathize with some of that reasoning. But all sympathy flies out the window (pun intended) when I hear that the heads of all 3 companies flew down to Washington on their corporate jets, to the tune of a cost of about $20,000 EACH. They could have flow first class commercial for $1500 each. And the head of Ford last year, took over a sinking company and earned himself a $28million bonus.
It's corporate welfare and the sense of 'entitlement' they have is not that much different than what plagues other segments of our society asking for public handouts.
NO BAILOUT!
Why are you not outraged we are spending 12 billion dollars a month, along with American BLOOD, in IRAQ, and what are we getting in return? Death and destruction, thats what.
And you would probably like to continue this and turn off financial help in the form of a LOAN to not only Made in America Union jobs (which you obviously despise) but the downstream SMALL BUSINESS OWNERS relied on as suppliers. Got plenty of non union workers who are gonna suffer too.
Want to point the finger, point it at all the high paid executives who ordered up oversized gas guzzlers as part of their PRODUCTION PLAN
Why are you not outraged we are spending 12 billion dollars a month, along with American BLOOD, in IRAQ, and what are we getting in return? Death and destruction, thats what.
And you would probably like to continue this and turn off financial help in the form of a LOAN to not only Made in America Union jobs (which you obviously despise) but the downstream SMALL BUSINESS OWNERS relied on as suppliers. Got plenty of non union workers who are gonna suffer too.
Want to point the finger, point it at all the high paid executives who ordered up oversized gas guzzlers as part of their PRODUCTION PLAN
How do you know I'm not enraged? This thread is about the auto bailout, not the war.
Prepare to be disappointed because Obama wants an auto bailout. The UAW has helped him to much to not receive favors in return.
Might mean something for Ford, but GM and Chrysler are going to be either dead or in bankruptcy by the time Obama takes the Oath of Office, since it appears there won't be any bailout.
Democrats wont support using the fuel efficiency money, and Republicans wont support using the bank money... very unlikely that the Big 3 will get a bailout until Obama takes office. I doubt GM and Chrysler will last that long. Maybe even not then, as a California environmentalist took over the energy committe from John Dingell, the Michigan auto supporter who was there for 28 years. Support for the auto industry is dying quickly, and Michigan's political influence is dying with it.
The only politicians strongly in favor of this are from Michigan, and their influence is not what it once was.
Might mean something for Ford, but GM and Chrysler are going to be either dead or in bankruptcy by the time Obama takes the Oath of Office, since it appears there won't be any bailout.
Democrats wont support using the fuel efficiency money, and Republicans wont support using the bank money... very unlikely that the Big 3 will get a bailout until Obama takes office. I doubt GM and Chrysler will last that long. Maybe even not then, as a California environmentalist took over the energy committe from John Dingell, the Michigan auto supporter who was there for 28 years. Support for the auto industry is dying quickly, and Michigan's political influence is dying with it.
The only politicians strongly in favor of this are from Michigan, and their influence is not what it once was.
They've already reached a tentative agreement on a bailout.
Actually, no. I am NOT going to write to my representatives to say "NO". I am for the bail out.
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