BailOut...Should these companys get it??
By tonniek02
@tonniek02 (457)
United States
December 6, 2008 7:45am CST
I look at these companys that are crying bailout...GIVE ME A BREAK!!!
The bank...They should not have received any bailout, until they have trimmed there own fat first..
The Car company....If they cut back on what they are spending on things such as racing sponcership, and CEO bonuse, and such things as that..they wouldn't need a bailout. Think about it. How many racing orgainazation to you know of. And how many of these car companys have big buck tied up in everyone of them. The car campany spends millions a year to sponcer a race team, to develop a racing motor, and pay bonuses to the winner. But do you thing they are going to cut back on that...No, they will layoff there line workers and close a factory first. Do you think that's right?
Home depote. I heard they are closing stores and laying off too. But I bet the Gibbs team will still have a car in the race next year with Home Depote as the main sponcer. If I was a worker of that company I would be very angree. That I lost my job so they could still sponcer a race car.
And yesterday I heard Catipiller is laying off. They also sponce a race team. over 1,000 people will lose there jobs. But I bet the race team will still be in business.
Citibank....Oh they need your money, After all they have a contract with a stadium to have there name on it.
As a low income american, I have had to cut back to make my income streatch, I don't go out to eat, I don't buy anything I don't need, I even use off bread items in order to save alittle money so I can pay my bill. Even though that gas prices have dropped, I still don't drive anymore then I need to.
So why can't these companies do the same, before they ask for a bailout. After all with the money they are taking, could help a millions of homeless familys. Who's going to help these family get back on there feet? And with all the layoff, this persentage is going to go up..in a big way.
So whats your thoughts??
4 people like this
9 responses
@grandpa_lash (5225)
• Australia
7 Dec 08
I understand the ideological dislike of "handouts", but what you people don't seem to grasp is that every collapse has a huge follow-on and fall-out, which will eventually bite on your own income. Yes, it gripes me that inefficient and greedy managers don't have to pay for their mistakes, but making them pay makes thousands of innocents pay along with them. Where is the sense in that?
Lash
3 people like this
@xfahctor (14118)
• Lancaster, New Hampshire
6 Dec 08
I wish I could get people to listen to and realize the more important point. Where the money goes is not the issue. Whether it goes to the auto makers, banks, etc. The bail out money is the smoke and mirrors in all of this. It is a distraction from the real crime taking place here. T.A.R.P. itself was not a bail out. It was a power grab that gave unprecidented power and authority to the FED and essentialy created a new and unconstitutionaly illegal branch of government. Read the bill, yes it's a long read but it is so very important. Read it. While everyone is hyper focused on "bailing out" all these companies, our monetary system was just hijacked (even more than it already was) right out from under our noses and the 1.6 trillion some-odd dollars that was set aside will devalue our currency to near nothing, no matter where it goes, setting unprecidented card houses up that will fall, taking our dollar with it. That in itself may not be entirely an accident. And thd g-8 summit multiplied the crime a thousand fold. With our currency set to devalue, and this still vague and shadowy "world regulatory body" decided on at the g-8 summit, I'm left astounded that no one, or at least very few, seem at all concerned about what this truly means.
2 people like this
@CinderInMySoul (4717)
• United States
7 Dec 08
i believe it was you that gave me the link for that bill. ill admit i didnt understand a lot of it..however there were some phrases that just seemed suspiciously open-ended.
and your right..not a single word has been said on anything ive seen or heard, about the new "branch" (while im sure they will all deny it as a branch..it sure as hell sounded like it to me!).
1 person likes this
@mscott (1923)
• United States
6 Dec 08
I wouldn't be so opposed to the government helping to keep these large companies that employ so many people going if it weren't for a few factors. First, the CEos of these companies make millions of dollars and yet they allowed their companies to get into this kind of financial trouble. Most people that do so poorly at there job are fired, not given bonuses. Second, these companies are doing what with the money, having big parties(AIG). All this money that has been given out so far and I haven't really seen any benefits from it or the banks doing anything to help with the credit lines as they were suppose to. Third, all this money we keep printing is going to lead to terrible inflation once the recession is done. And I guess I could go on and on but those are my main reasons.
@ganderlot (351)
• United States
6 Dec 08
Although living in Rhode Island, the highest unemployment where I finally got a job and had one full week of work and haven't had any hours in the last 3 weeks, I can empathize with the employees, however, they should not get a bail out.
They were bailed out several years ago and obviously don't know how to manage a profitable company. Some car manufacturers still make money. The Big 3 knew they were in trouble did nothing to cut back and had the nerve to take private jets to ask Congress for money. (How stupid is that?) Regards
2 people like this
@tonniek02 (457)
• United States
6 Dec 08
That's my point, If they can afford to sponcer race teams, they why should they get a bailout...They should cut the fat first, cut back on the sponcerships, sell the privet jets. cut the so call million dollar bonuse.
After all....in order to make it, we have to cut back..and no one is going to bail the individale out because they over spent. These company should not be treated as if they are something special. If you think about what your parents spent on a new car back in there day. Look at the money that these car companys are charging now. Most cars are costing people more a month then what they pay on there house. they should take care of there own cut backs before ever opening there months for tax payers money.
1 person likes this
@mayhem23 (185)
• Canada
6 Dec 08
The fact is that lending money to the car company's is not going to help them in the long run. We will just be setting ourselves up for another financial mess in the auto sector down the road. I think the Fed has intervened and given so much to the financial sector that it would be wrong to forget the auto sector. Sadly, a bailout package will be passed and the CEO's will be happy!
2 people like this
@littlevv29 (20)
•
6 Dec 08
in a way i dont think the bank you should have to bail them out they arent bailing anybody else out that needs it. or all these people that have small business that are going out they need help too and all the americans without jobs not because they dont want a job or want to work but because they cant find a job it took my fiancee almost three months to find a job and thats rediculous its hard to live off unemployment especially when your dont get but 230 a week. so i think they should put that money to better use.
2 people like this
@LittleMel (8742)
• Canada
7 Dec 08
these companies have been out there for a long time
how is it that they have no plan to survive in times of crisis?
if they do they won't be in this situation at all
I can understand new businesses falling in times like this
although every business supposed to start with good planning, new businesses do not have the experience with market turmoil and still building good reputation and network - these companies you mentioned surely have those and yet they are not managed well, now other people have to bail them out??
If the govt is worried about employees, they can increase money to help the unemployed or help with mortgage. these companies were not well managed, plus with the market situation. Even if they get bailed out, who can be certain they will be managed well this time? plus is there any potential for them in the market at all?
now that everyone is living frugally trying to survive the crisis, do they know what kind of products to make so that people buy them anyway?
when this bailout happens, CEOs or top managers are the ones that will enjoy it, not the thousands of employees working their #$% off on the line. why is it hard for people to see this?
@laydee (12798)
• Philippines
6 Dec 08
Well, business is business. If they're losing big or couldn't get what they want out of the business, why go on with it right?
Plus, if other companies can cry out for help from the government, why shouldn't they do that too?
It's like how children are. When one cries and gets candy, so do other children cry too. It's how we are.
Plus, when a business worries about cutting off jobs, it's not a business anymore. After all, they're not charity companies, they do have lifestyle to protect.
2 people like this
@seeiloveu (100)
• India
7 Dec 08
I feel that the US-Government is doing terribly wrong by bailing out companies that have suddenly become financially-depressed.
All the while, the US-Government was fighting the nefarious-, body-pinching Communists ... Now, they are acting in a similiar way.
I am an Indian; living in India. Although I have still to feel the pinch of this melt-down, I know for sure that I may not escape it.
The melt-down has already begun to affect the likes-of-you. But, then, let me ask: Which Democratic Government - which is the best form-of-Governing the citizens or Earthlings till today (no replacement have been found yet) - in the world is fair to you and me? We, the ordinary-, honest-, working-citizens in the world, are all always electing Governments which later begin to work against us. Still, we live with them; we do not complain.
I, for one, is hoping that the new-US President Obama will help change the pattern of the US-citizens and make living easy for all those who are undergoing severe pain staying with the present Bush-Administeration.
Before I end, let me say one thing: The US-goal of trying to rule the world and enforcing its democratic-values have had a brief run of 63-years (after the end of World War II) ... It is over!
1 person likes this