So, I have been working all week on a post about the auto bailout. I keep going around and around about how I want to word things and what I want to say. I am so angry I just can’t make any sense. I just don’t have anything nice to say. I decided instead of a logical post pointing out all the reasons why this bailout is no good-in fact maybe worse than the first one, I’m going to rant. I’m mad and I can’t take it anymore.
I don’t understand why Washington keeps throwing good money after bad, again and again. A few weeks ago it was the banks and Wall Street. This week has been all about the Big 3. To me they all resemble a bunch of drug addicted, alcoholics. “We need your money to fuel our excess because we used up all of our own.” Who’s next? What is the next sector to fail that “we cannot live without if it were to go under?” Funny……to me it’s not that the words are untrue, it’s that to my way of thinking, that’s ALL SECTORS of business and bailing any of them out is a mistake. When bad companies fail, good companies buy them or their assets and in some way or another, we all go on.
I don’t understand why we don’t get a vote. All the talk in Congress about “the taxpayer”, what’s good for the taxpayer” yet they haven’t asked “the taxpayer”. Not me at least-did they call you?
I am against bailouts in any form-I do not discriminate. Wall Street, Main Street and the automakers must suffer whatever the consequence after years of credit excess and irresponsibility. I know it’s harsh, but that’s life. Life can be harsh. The government can’t solve your problems, fix your woes, or pay your mortgage. Only you can do that. Yeah lady from the Obama campaign trail video-your still gonna have to pay your mortgage and put gas in your car. Get used to it.
I’m pissed that Paulson keeps doing whatever he wants with the $700 billion that was going to have “strict oversight”. Really? So doing what you want, no accountability and no trail is strict oversight? Hmmm, I wonder if I can use that position if the IRS ever pays me a visit. Paulson, Pelosi, Reid, Dobbs and Frank are complete and total IDIOTS. Someone should be investigated. Someone should be prosecuted. Those people should not be determining how to best deal with this situation-news flash-THEY GOT US IN THIS SITUATION!!!!!!
An infusion of cash will only delay the inevitable. The ridiculous excess, the unyielding labor unions, and outrageous fuel costs-the automakers are suffering from their own poor decisions and a drunken profit-taking mentality of many years. Detroit continued to make high profit gas guzzling SUV’s while not investing in forward thinking technology and smaller cars, essentially starving research and development. If these companies are allowed to go bankrupt and re-organize their chances of survival are much better. They can emerge as innovative, smart-thinking, slimmed down corporations that have a hope of moving on.
Workers must understand-if the car makers continue down the current path they will lose their jobs anyway. As Mitt Romney so accurately pointed out,
“IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.”
Just as the financial institutions that were allowed to fail were bought by other companies that are strong, the market must be allowed to determine the fate of automakers. Funny, even as those institutions went belly up the world didn’t come to an end. People are struggling. People are scared. I know these things to be true, but the answer is not throwing more money at a never ending problem. These failures must happen. This correction must take place. People are not going to start spending money again until the dust settles and months and months of volatility will just make things worse and prolong the pain. Let the market do what it does, let the chips fall where they may and then the people and the economy will recover.