So what do you think of the "big 3" auto manufacturers trying to get in on the $
By sharone74
@sharone74 (4837)
United States
November 20, 2008 2:16am CST
What do you think of the executives of the big three American auto manufacturers trying to get in on the bailout cash? I personally feel that it is absurd. They come hat in hand asking the government to reallocate $50 billion dollars of the $70 bank bailout cash to them instead of to the banks. Now it is widely known that they haven't even gotten the oversite committee for distributing the bank bailout funds appointed yet they have spent over 20 billion dollars of the money already. So there isn't even $50 billion to be had of those funds. Yet the auto manufacturers are asking for over 2/3 of money that wasn't even allocated to them to bail them out before they fail. I think their grifters who think that crying poverty will get them bailout money just like the banks (which is not a move that I approve of in the first place!) But I think that asking for over 2/3's of another industries monies is very very cheeky of them. Especioally when their premise for argument is that the banks are not lending funds and so they are not able to move the automobiles that they are overmanufacturing because they want all their money at onfce from the financeires who then have to wait to recoup their funds from the consumer. If the money was allowed to go to the banks so that they can return to "more normal lending" as they say the money is needed for, then the auto companies will be saved by the "trickle down" of those normal lending practices. Which have kept them paid in full and in business since the inception of car buying on credit.
1 response
@Arkie69 (2156)
• United States
27 Nov 08
The most we can do with all these "Bailouts" ios postpone a crash. What we are doing with the bailouts is making it a lot worse when it does crash. Anyone that is in trouble now should be allowed to fall by the wayside. Our economy is going to crash no matter what we do but we can make it a lot worse by trying to prevent a crash. A bunch of stupid people making a lot of stupid decisions all in the name of more profit has pushed us beyond the point of no return. The big 3 auto makers have priced themselves right out of the market. Now they are going to pay the price and trying to bail them out won't stop it.
@sharone74 (4837)
• United States
2 Dec 08
Well said, and all it does trying to bail out this one and that one is to make more of the shysters try to get in on the gravy train by waving all of our hard earned money at the fools. They ran their companies and industies into the ground not us, why should we throw good money after bad?