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Bailout to auto manufacturers? We're literally giving money to AMEX, MC, VISA, and other lending/banking institutions (look it up); yet we're not even considering loaning money out to one of the last pillars of our manufacturing sector? Why are so many Americans cheering this move? Why are so many of you against loaning money out? Why do you seemingly think its ok to GIVE all of the 700 billion (more like 1.5 trillion) away to banks that helped fuel this madness, yet loaning it out is beyond sanity? When will the people realize what is going on?
Here is the issue as I see it... Left-leaning Democrats are opposed to handing over the treasury to corporations with poor management. Fair enough. Right-leaning Republicans are opposed to handing over the treasury to industry that supports a middle class. (This strategy is also employed under the banner of "privitization," where middle-of-the-road wages for all workers are polarized into much lower pay and less benefits for the majority of workers with increasing compensation for a small fraction of management.) Politics these days is all a new game with strange bed fellows, as it was for the immigration debate couple years ago... corporatist and small business Republicans siding with illegal-immigrant loving Democrats versus racists paranoid Republicans and pro-Union Democrats. Interesting times. It is fairly uncommon for the political discussion in the media to match the true motivations behind the scenes. So here is what I think this really boils down to: The threat of failure is being used to allow the Big 3 management and investors to shed what has been termed "legacy costs." Kind of like a bankruptcy restructuring, I would bet that any money offered comes with conditions and supporting legislation. This will be used to undermine benefits to current workers and the benefits earned by now-retired workers to "reduce costs." It is a poison pill approach where people spend their efforts debating and defending the merits of not letting a major employer fail. When support crystalizes with the current frame of debate, one requirement will slip in - the crux of what they really want. Debate will be much less vigorous on the "details" as America's short term attention turns to something else and people fail to re-evaluate their position with the yet-another poison pill for middle class labor.
I have yet to figure out what the fuss is. Granted, the auto companies pissed away money on lobbying Hawaii so they wouldn't have to follow environmental regs. When they could have taken that money a created a viable product. Yes the CEOs are a bunch of greedy people. The unions need to chill a bit. These things can be fixed. They readily gave money to AIG and international banks. Yet an American companies are asking for help and they balk. Looks to me as if they want to ruin this country. The outcome of not helping is far worse than if they did.
Part of the opposition comes from leftover opposition to the original bailout, and the second "bribe" laden bailout that passed. Then there is the media and partisan politics doing a fine job stampeding people.
First of all, Barack Obama doesnt understand the free market or the economy. What would happen if we did nothing? If the big three auto makers are suppose to fail, they should. They would probably be sold or something. They wouldn't disapear, all there factories and stuff wouldnt disapear into thin air, they would simply change ownership, probably into owners who could actually run it successful. ANd yes, jobs would probably be lost, but our economy is going through a massive correction. And this Correction is good and healthy, and will happen no matter what. Promping up bad companies only hurts consumers and only helps the the big auto ceos. This massive 700 billion is a bad idea and so Is Obama. Say No to Nobama.
The biggest problem is that the money isn't coming to me. How many times must the auto industry be bailed out? If they made cars people wanted, they wouldn't be in this mess. I am against any bailout. Nobody is bailing me out.
I would rather loan them the money than MC or VISA who have been gouging us for years with 25% interest.
They are poorly managed and the loan will not correct this fact
Because flushing 1/28th of 700 billion down the liberal auto union toilet is still a huge waste of our money.
Remember America is built on CREDIT?