In case there are those of you who don't know as of yet, as a tax payer you are about to bail out yet another corporation which is GM. It seems that it also is too big to fail. In addition, this particular corporation is near and dear to the hearts of Democrats who are currently in power due to the union affiliations that support their party. Ironically, the unions are part of the problem due to their participation in forcing salaries so high for their workers that it is more difficult to compete with competition around the world who are not forced to pay their workers so well.
Just out of curiosity, who is in favor of tye bail out and who is opposed to it? Not that your opinion matters to law makers.
Originally posted by whodeyOpposed, as I am of the bailout for Fannie Mae.
In case there are those of you who don't know as of yet, as a tax payer you are about to bail out yet another corporation which is GM. It seems that it also is too big to fail. In addition, this particular corporation is near and dear to the hearts of Democrats who are currently in power due to the union affiliations that support their party. Ironically, t ...[text shortened]... n favor of tye bail out and who is opposed to it? Not that your opinion matters to law makers.
Nemesio
I'm opposed to any bailout of any private corporation. If a business is too important to go bankrupt, it shouldn't be private in the first place. In the case of GM it's the massive government subsidies which caused the problem in the first place, by promoting inefficiency. The market catches up to that eventually.
Originally posted by whodeyWhy not blame the workers. I mean management obviously had no role to play in mo city's blues. 30 years of lagging behind the rest of the world in terms of engaging with state of the art design obviously must have everything to do with those greedy workers. It is up to them afterall whether the company keeps up with cutting edge technology or whether it keeps up with r&d.
Ironically, the unions are part of the problem due to their participation in forcing salaries so high for their workers that it is more difficult to compete with competition around the world who are not forced to pay their workers so well
Manky workers! They can laugh now but come the revolution and the machines finally take over.......
The reason that they feel the need to bail out the auto industry is that GM alone has over 2 million workers. Throw in Ford and Chrysler and we are looking at over 5 million people on the dole. You will be bailing them out one way or another. Obama's plan is to use the bail out to re-tool the auto makers and push them to make greener, more state of the art autos.
I am not a big one for the bail outs, but 5 million unemployed workers in an industry that could (with quite a bit of change) be viable, seems to be a better use of our money.
Originally posted by CliffLandinThere's no evidence that these corporations are in any imminent danger of closing. If need be, then can file for bankruptcy re-organization. Throwing billions of dollars to poorly managed companies is like giving heroin to a junkie.
The reason that they feel the need to bail out the auto industry is that GM alone has over 2 million workers. Throw in Ford and Chrysler and we are looking at over 5 million people on the dole. You will be bailing them out one way or another. Obama's plan is to use the bail out to re-tool the auto makers and push them to make greener, more state of the a ...[text shortened]... hat could (with quite a bit of change) be viable, seems to be a better use of our money.