I wish I had a little more time to write about this, but this Big Three asking for the “Big Handout” from Uncle Sam is so disgusting IMO.
This isn’t about jobs. I live in Detroit and the CEOs that run these companies have been shipping jobs over seas and building plants in Shanghai, Red China, and places like Bratislava, Slovak Republic as fast as they have been able to and they have closed many auto factories in Michigan (Wixom Assembly; GM’s Flint) and throughout the United States
So , it isn’t about jobs. The Big Three have been cutting tens of thousands of jobs each year, every year, for decades in the country now…
They hate the UAW Auto workers union. They always have, and their entire goal is to close as many auto plants and fire or buyout as many U.S. Auto Workers jobs as fast as they are able to, and reduce their labor costs by shipping the jobs to places like Red China and Eastern Europe.
I really hate to say it, but bailing them out is not Free Market Adam Smith laizzez-faire Capitalism.
Bailing out Wall Street was not the silver bullet, and did not solve the economic crisis and bailing out GM, Ford, and Chrysler is not going to either.
Bush and pals already loaned the Big Three 25 Billion bucks just a month or two ago in September / October of this year.
Now GM, Ford, and Chrysler want another 50 Billion bucks!
That’s 75 Billion altogether now.
Under Bush, the so called “Conservative”, we’re rapidly descending into a European Socialist nation state.
The Federal Government now owns 80% of A.I.G.
Undoubtedly, President-Elect Obama and the Democrats are going to continue and maybe even expand these policies.
I’m just saying once you start doling out billions and billions of bucks to these American corporations, you are opening up the Pandora’s Box of Socialism in the United States, and that was not the Free Market economic system on which the economy of this nation was based.
Again, I really hate to say it, but with that Wall Street 700 Billion dollar Bailout, we have already crossed the threshold to the United Socialist States of America.
We need to stop the Federal Government from dumping billions of dollars of our money into poorly run, mismanaged, private businesses.
And if people suffer; if this brings on the Great Depression Part II, well so be it.
It is better to live in a free society and suffer a lot than be beholden to an Oligarchy of businessmen who possess poor judgement and have mismanaged their business industry.
I already will tell you it will be 50 Billion right now; down the road say 6 month- One year, they will need another 50-100 Billion to keep afloat.