After we bail out the auto industry, what industry do we bail out next?

[cali]

Because it won't stop there. Of course, I don't wish the suffering that GM having to declare Chapter 11 would engender. but I think bailing out the big 3 is a truly lousy idea, even with stringent conditions. There's no guarantee whatsoever that a bailout would work, and looking at the complete mess of the financial sector bail out, doesn't lend confidence.

It pains me to side with the repukes, and against President Obama, but bailing out the auto industry strikes me as a truly piss poor idea.

[MzYvonne]

1. I agree completely

As I replied, under another post. Why can't they get the money from the banks the taxpayers just bailed out? Plenty of money there.

[lligrd]

2. The Repugs Are Against It Because They Want To Break The

unions. I suspect you are against it for entirely different reasons. I agree with you but how do we protect union jobs at the same time?

[safeinOhio]

4. 14 times as much was just used to bail out banks

You want to talk about mismanagement? How about criminal management?
Now why is there way more bitching on DU about the auto industry than the banking industry. The Banks, not the car companies are to blame for our mess. You people are missing the forest for the trees.

[lligrd]

5. I Think You Might Have Replied To The Wrong Post nt

[safeinOhio]

6. Whoops, sorry.

[cali]

8. I was against the financial services bail out as well.

I have no confidence that either will work.

[shaniqua6392]

3. It will cost far less to give the Big 3 a bridge loan

than it will to give millions of people unemployment benefits, food stamps, medicaid, etc. We would also have millions more home foreclosures that would occur. Not to mention the loss to businesses that provide parts, service and sales in the auto sector. They could use some of the $700 billion that was already allotted since only about half of it has been spent. The Repukes are wrong. They don't give a crap about the little guy trying to feed his family working in the auto industry. They could not care less if we only end up with foreign cars available in this country. God forbid we would need to build military vehicles if we were to get into a large scale war and we have no manufacturing base left here in the U.S. I guess we could ask India or China to build us a few tanks?? It is just a matter of helping our U.S. auto manufacturers with a LOAN to keep them going. We could also put conditions on that loan to ensure it is used to retool a few plants to provide hybrid/electric vehicles. I live in Michigan, so I guess I know first hand what is going to happen if the Big 3 goes down. I have seen how horrible it has become already with so many being laid off. It is really bad here.

[H2O Man]

7. Professional wrestling. n/t

[proud2BlibKansan]

9. Education

Could I at least get air conditioning in my school?

[BlueManDude]

10. I support help for the auto industry and think it will stop there.

[remember2000forever]

11. How About Bailing Out The Real Estate Industry?

You have no idea how many Brokers have closed shop and how many Realtors have either quit or are barely surviving. Since we are Independent Contractors, I know we have no chance at this BUT: Our livelihood has suffered most dramatically.

[whistle]

12. The flood insurance industry needs bailing out....oh wait a minute

...it's the flood insurance industry's customers who need to be bailed out when floods hit. That means that the flood insurance companies must be forced to maintain higher reserves to cover emergencies when the occur.

[JVS]

13. The consuming industry. Oh hell, somebody find GOSPLAN's number

We've been using stimulus packages, interest rate adjustments, and now bailouts to the point where we might as well just have a planned economy.

[natrat]

14. interesting, this thread wreaks of corporate whore posting

anyway the idea that the financial institutions get 700 billion and wont account for it, which means it most likely is being stolen, and the auto industry gets not even 25 billion is absurd

[Morrisons Ghost]

15. I was under the assumption

That what the Federal government was doing with the Big 3 was a loan not necesarily a bailout?

[KharmaTrain]

16. So We Need 3 Auto Makers?

Of course they won't stop. I can already see the airlines queing up next. Then, if there's a withdrawl from Iraq, be assured the military/contractors will put up their red flags...how we're making the country "vulnerable" despite the billions they been thrown and squandered.

Recently, I talked with a friend who is a broadcast exec...things are brutal in his world. His operation has been losing an average of 20% in revenues for each of the past 5 years and the company's stock price is now worth less than it takes to print the certificate and mail it. It's "deregulation" gone wild...speculation on the value of their stations was the revenue generator rather than the actual business (which was being downscaled and outsourced to prop up the bottom line) and now these companies that invested billions in inflated properties based on a shell game are collapsing under their own greed. My friend then says there's a major push by the broadcast trade organization to get some of that bail out money...he claimed is was "our due" since it was the government that let this happen and did nothing to stop it. Personally, I think he's just scared in 6 months he'll be on the outside looking in.

So...what's the benefit of having three poorly performing auto companies? Ego? What's in a name? Does it matter if the car one drives says "Ford" or some other name? Yes, a strong auto industry is vital to this country's economic health, but that's assuming the companies are healthy as well. Three sick puppies aren't going to turn things around...maybe one or two could...along with a healthy infusion into companies developing new form of transportation using alternative energy. These "barons" had 30 years to fix their problems...throwing more taxpayer money at it won't help...and as you say, will just open the door for others to say they are deserving as well...

Cheers

[Alter Ego]

17. Whatever industry makes those dreamcatcher thingies.