Wednesday, November 19, 2008

Auto industry NEEDS the bailout

While the U.S. auto industry has monumental problems, not the least of which is the fickleness of the American consumer who demands change far faster than the system (design, retooling, construction, sales) allows,
There is also a major piece of hypocrisy at work. AIG was originally slotted for a whopping $115 BILLION in its bailout (for reasons far FAR shaadier than the Big 3), but two weeks ago, it was announced (without ANY public reaction or outrage) that the Treasury Dept. was upping the amount to ... $140 BILLION - equal to that $25 billion sought by the automakers.
AND ... AIG executives were STILL spending high six-figures on outings and confabs at luxury spas and resorts. If AIG is SO broke, why such flaunting and thumbing of noses at the taxpayer? Why aren't these goddamn people in jail?
Bashing people who work making cars for a living seems to be fashionable. Personally, I'd rather have bailout/loan/assisstance funds go to working families (union or NOT) than to selfish, uncaring executives who are ripping off the U.S. public. You can flog the auto management all you wish; I'll toss in a lash or two. But ... in the end, NOT helping will only hurt middle class families and is NOT a good thing for this nation's economy.
Which is STILL the bottom line.
By the way, the Southern Republican senators (notably Richard Shelby and Jeff Sessions) voicing the loudest opposition have alterior motives - to move the jobs from the Midwest to places like Alabama. It is a subtle version of pork, at the expense of an entire region of the U.S.
I guess if you couldn't win the Civil War one way, just wait until you bankrupt that part of the country for your own economic benefit. Screw those people who want to let Detroit and the Midwest just rot. Next hurriance, fend for your own selves.

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