Detroit Bailout

[pixel34]

An interesting read. The main point is this

Comments

[kimith]

I am all in for them. I think if you ask any Blue Blooded American if they would rather bail out a bank (who has gouged them) or Ford/Chevy (who has been the basis for a good many memories in most everyones life - remember that time in the back of that cadillac?) you we get a resounding hells yes. The auto makes have put a whole hell of a lot into this country. Their job is make cars, not money. Opposite of the banks whose jobs are TO MAKE MONEY, save money, move money. Hell, they are only asking for what now - $50 billion? $50 billion that can be directly related to kept jobs, paid retirees and continued auto making from Americas named automakers? Vs. the $300 billion that went to the banks for.... for what? For "stablization" and company retreats, million dollar bonuses and

Bad business model, poor decision-making

[bonnevivant]

During the Clinton Administration 15 years ago, the CEOs of the big three automakers were invited to Washington and they agreed on a bargain; in exchange for not working to pass tighter fuel-efficiency regulations, the car manufacturers would partner with the gov't to develop a triple-efficiency 80 mpg family car. 80 mpg! This is in teh late 1990's! The car companies went to work developing diesel-electric hybrids and the administration pledged over 1 billion toward this effort. The automakers developed concept cars shortly thereafter. But they failed to keep their end

Re: Bad business model, poor decision-making

[kimith]

No one asked me what I thought about giving my tax money to the banks. I say - if we are going to bail out someone lets bailout someone who the american people WANT to help. The majority of people are feeling shafted by the banks in teh first place. The banks are in charge of the money - the banks and their want to give mortgages to EVERYONE even those who 10 years ago would not qualify are a huge huge contributor to the mess in the first place

Re: Bad business model, poor decision-making

[bonnevivant]

No one asks the taxpayers how government money is spent. Our input is only indirect; the elected officials from our state and other elected bodies are supposed to represent the needs and views of their constituencies