Stop The Automakers Bailout!!!

Stop The Automakers Bailout!!!

www.rinf.com

Since the 1970s, Detroit's Big Three auto makers have failed to keep up in the competitive auto industry. High labor costs and inflexible work rules, as well as a failure to overcome negative consumer sentiments have combined to bring the Detroit-based auto manufacturers to their knees. Now they are begging the federal government for a bailout to the tune of $75 billion!
Take Action Now and send a message that taxpayers should not have to pay for decades of bad decisions by automakers

(visit the link for the full news article)

While the goverment is dilly dalling over the auto bailout, it has to be understood that the Big 3 auto makers are genuinely in trouble. They flew in private planes to discuss with the govt though !

I think America was built on the principles of free enterprise and an open market economy. While making huge profits, private corporations dont share their spoils with the govt, but now in times of recession they want to use the tax payers money to bail themselves out, no matter what sector they are in. I think this should not be allowed as it defeats the basic principle of a free market economy - demand and supply

www.rinf.com
(visit the link for the full news article)

The auto makers bailout is the worst thing that could happened. It keeps people working for a while, but think about it. They build cars but so many people are out of work that the cars built aren't sold. If the cars aren't sold the auto makers have to lay people off. Sooner or later the whole thing falls apart, bailout of not. Why hasn't this even been mentioned by our brilliant represenatives in Washington?

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[edit on 28-12-2008 by asala]

Originally posted by criswyatt
The auto makers bailout is the worst thing that could happened.

No, actually the worse thing that could have happened was for the US to pump in excess of 700 Billion into the financial sector just before an election and then STILL have the banks not lend any money out and have no real oversight or control on how that 700 BILLION is used. Oh wait, that DID happen.

Just wait till the Credit Default Swaps/ Derivatives and the Retail Real Estate market crisis's hit, they are next up on Deck. You will wish you got off as cheap as the Auto LOANS will be. Mark my words, the other shoe has yet to drop.......

reply to post by infolurker


Interesting proposals, however that would basically have the Govt. as the primary Mortgage lender forever wouldn't it?

Nope... existing mortgages / existing debt... banks can pick it up after that.

The Fed is just technically not the government.

[edit on 27-12-2008 by infolurker]

reply to post by pavil


Actually, you should be thankful that the banks are hoarding the money. Otherwise you can say hello to inflation that you've never seen befo'.