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Obama extends short federal lifeline to GM, Chrysler

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posted on Mar, 30 2009 @ 12:32 PM
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Obama extends short federal lifeline to GM, Chrysler




President Obama announced Monday that struggling automotive giants General Motors and Chrysler will be given a "limited" period of time to "restructure in a way that would justify an investment of additional taxpayer dollars." The federal government will give GM "adequate working capital" over the next 60 days to work in conjunction with the administration in developing a better recovery plan, he said.


www.cnn.com...




posted on Mar, 30 2009 @ 12:36 PM
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When is this ever an option? Why would I ever pay for another person's employment? For example, say my local auto dealer is starting to go under and all my buddies are going to be unemployed. Do I give them my own money just because the stress they will likely go through is too much? I honestly don't care. I would immediately question their business practices.

I don't think magnitude has anything to do with justifying supporting any public corporation. They should fail completely; in that way people who actually deserve the business overseas will be payed appropriately in terms of what they're contributing to the growth of the industry. Americans are sucking up the planet's wealth through measures of national self-interest. This is an affront to global capitalism. This is what is the real root cause of income inequality. Send those GM wrench monkeys to the streets! It's fair because more people will be better off overall.



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