Living in Michigan, the big 3 auto companies are in deep shit, bad they are begging the Gov't for a bailout, their budgets are going in the negitave, and they have no way out, and they are asking the gov't for billions of dollars for their companies. what does AG think?
Without them, the economy would dive even farther... I don't really know what's going on in washington, so I couldn't say what would be the absolute best.
I lived in Michigan for the past four years, but am in North carolina now...I think that at this point, we have to bail them out, but with a verrrry big disclaimer.
I'm a liberal democrat, but the unions have to seriously retool or get the hell out of their business, because they are crippling this country.
Considering that something like 1 of 10 jobs is in the auto industry or in related industries dependent on the auto industry, I don't think it's honestly feasible to just let them die.
I think it's funny that the Republicans were so firm to support the bailout for the banks, but now that a democrat has been elected, they're opposing a much cheaper plan to make it seem like it was the democrats that wasted all the money.
I wish there was an alternative, but I don't think there is. Thousands of jobs are at stake, and in this crisis, we don't need to lose any more jobs than we already have.
This is why government intervention in the economy is bad. Every 20 years or so, the government has to bailout failing corporations. I say let them fail. If the CEO's were held accountable, they wouldn't make such bone-headed decisions and maybe the company would be able to make it without taxpayer money.
But alas, my tax dollars are going toward failed companies and moron CEO's anyways. We need to stop bailing out these corporations and hold these CEO's accountable for crappy companies. Bankrupt them and put them under!
But alas, my tax dollars are going toward failed companies and moron CEO's anyways. We need to stop bailing out these corporations and hold these CEO's accountable for crappy companies. Bankrupt them and put them under!
Exactly! Did you know that a week after AIG received billions of dollars to get back on it's feet, that the CEO's and other people in high positions took time off for a vacation to a spa? It's a stupid system. The CEO's don't learn anything, and neither do American citizens. If all this keeps up, the only thing that will happens is that businesses will expect the government to keep them out at all costs.
I feel as though America was founded upon a Laizes-faires(sp?) system, and i also feel like we never should have dropped that system(with all this gov't control). So I obviously have a problem with all these bailouts XD. But hey, i'm no economist and i'm no politician...so i guess i just got to sit and ride this roller-coaster to the end.
I agree that it is a necessity to prevent the Big 3 from failing. Not just for economic reasons but for military ones; turns out car factories are great for turning out tanks and hummers during wartime.
The big problem though (and why they will definately get a bailout) is unions. Unionized workers at Ford or GMC get paid 3 to 4 times as much as the same non-union worker at Nissan or Toyota. This is why Volkswagen is still full speed ahead to open a factory up in Tennessee in the next few years - weak unions!
Of course this is just one strand of the rich tapestry of this issue.
The big problem though (and why they will definately get a bailout) is unions.
The definately is because unions are HUGE backers of Democrats. With control of the Executive and Legislative branches, its a no brainer; those union dues get people elected.
Not that there is anything wrong with this; there isn't. We all donate to those who most closely match our views, and we all expect something in return!
XD. God u guys are f'cked... not gonna lie. It was bound to happen. Karma? maybe. But these bail out programs are pretty much just putting money out there to get moved around and eventually end up no where. Ex. spas... lol like are they retarded? Your country didn't even need to go to war with Iraq... And see wat happens when u attack because you want oil.. WOMD my @ss. well anyways yea stop putting money in a company that i haven't even heard of.
i dont think the companys should be bailed out. higherups in the companies get paid so much, cut their pay and then use that for research and development. nobody is buying cars now because nobody has enough money, and nobody needs them
Just as mentorso123 has noted, if the big 3 go bust right now, the US economy is just going to dive even further. If the economy wasn't so bad, then I would say let them die off (via divestiture or whatever), but right now is just not a good time to let that happen. A bailout IS needed, but there needs to be some serious conditions behind that money.
What many people don't realize is that something like more than 50% of all fortune 500 top executives have come from the big 3. The big 3 thought America about corporations. If they fail, then everything America has learned via corporations was wrong.
I agree with your sentiment, crazjays...if this were a different time, and we were not going downhill fast, I'd say that a bailout would probably not be the best idea.
We're not though, and we can't treat it like it's a normal situation. We HAVE to mobilize and do something, or we will hit unemployment that is unfathomable.
