The latest news on the economic front is the proposed bailout of the "big three" automakers....GM, Ford, and Chrysler. Democrats led by Reid and Pelosi can't wait to start writing the bailout checks. This is funny because usually democrats want to take money away from businesses, and now they want to lead in the handouts. However, this in no doubt a way to appease unions whom they give all sorts of promises during election time.
Although many Republicans are still following the heels of their liberal heros on this, some finally are standing up and saying these bailouts are becoming too common and too expensive. I think Americans are getting tired of this nonsense as well, as the auto companies have been another industry which just can't seem to get their act together. Of course nobody wants to see jobs lost, but maybe it's time to consider letting these businesses go.
I actually understand bailing out the autocompanies at this point - even some conservative economists are worried that letting these companies fail will make this recession into a depression. How many American jobs are tied to the big 3? The govenor of Michigan I believe said 1 in 10...that's a lot of purchasing power down the drain when retailers are seeing really bad numbers.
I just hope that some measures are put in place to keep us from heading down this road again though I suspect we're going to hit the trillions in bailout money before the end of this. Solutions? Regulating Wall Street is the no brainer but beyond that....
Looks like Paulson is seeing the light on this:
http://online.wsj.com/article/SB122650321703420903.html
Guess I'll have to ask what this means.
Exactly. They have already received help and nothing has changed. Billions of dollars for this new proposal and the same thing will happen.
I hope he stand and comes up with a good use of the money. I just wished that they would have said a big F U to the bonuses to those guys too
Funny coming from a governor that has assured a recession for her state for the last 6 years.
Hey, anyone can predict the weather, so long as you don't give an exact time and day. Just look at Nostradamus
Frankly, I think the companies should file for reorganization, the unions need to reassess themselves and take a partnership role in company growth and success, and management should be fired. These companies have been non-competitive for decades, in my opinion, completely misreading the actual automobile market. short of closure, I am not at all for cash infusions to the Big Three.
It looks like we can find common ground if we try hard enough. Maybe if we can do this, then maybe we can teach our Gov't parties to learn to find common ground and stop all the "my ideas are better than yours" campaigning
Sodaiho, neat idea.
I agree with those of you who say the BIg 3 should file for bankrupcy, get some good people in there to advise and help them re-organize.
A while ago, some of the airlines had to file bankruptcy and restructure...they didn't ask Congress for a free handout by way of taxpayer bailout!!
Why on earth should the American people bail out failing private companies? Doesn't make sense...yet the Democrats are going to ask that and when the Republicans say no, then they are going to be labelled as bad, not caring people. It's the same ol, same ol.
The unions started out as a good thing, but now for the most part they are politicized arms of the Democrat party and have gone way overboard in their way of doing business.
Sodaiho -
You're more of a conservative than you've let on. Bravo.
Perhaps they should have put those campaign contributions back into the company where it might have done some good, or better yet reserve it for employee's that would be affected by layoffs.
DO you have a source for that? Or is it just speculation?
And your point is? Both the unions and the auto companies should have put more money into fixing their businesses rather than buying politicians.
Shoulda, woulda, coulda.....and the dog just keeps chasing its tail at taxpayers expense.
and most are to stupid to learn that it will be a failed cause if no changes are made....
I didn't specify party in my comment. That said, don't you think it's irresponsible to to send funds to any candidate from an "organization" that is supposed to represent all of its members? Especially if that industry is facing difficult times? Although it might seem so, the problem with the automakers didn't just pop up out of nowhere. I'm sure the UAW did not equally divide contributions to all candidates. I'm sure not all UAW workers supported only one candidate. I think I'd be a bit PO'd if the money (dues) I pay this organization go to a candidate I don't support. The best solution is let the individual make contributions if they are so inclined, not the union (or the company for that matter). Too many special interests and lobbyists the way it is. No need to add more.
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