Bail out or bust?
Published Friday, November 28, 2008
Without rendering my verdict on the federal bail outs, I'm curious as to whether anyone out there is feeling the results of the billions of dollars our government gave to big companies.
Published Friday, November 28, 2008
Without rendering my verdict on the federal bail outs, I'm curious as to whether anyone out there is feeling the results of the billions of dollars our government gave to big companies.
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Comments
I am going with "bust". Why reward horrible management practices with our taxmoney?
So far executives of several recipients of the bailout money have rewarded themselves with vacations and lucrative buyouts. Several mortgage investors have used the bailout money to purchase other mortgage lenders/investors (see purchase of National City Bank and their mortgage division).
It's unbelievable. Let one of the Big Three automakers fail. Set an example. If one automaker was to be bailed out, all salaries and union contracts should be declared dead and renegotiated to more reasonable figures (my opinion with union contracts and wages will hurt your feelings).
One of the many negatives that will be pinned to the Bush administration for years to come will be the nationalization of the banking industry. Health care has already been nationalized in the form of Medicare and Medicaid. Hopefully the auto industry will not be next.
Let nature take it's course. Tough love.
I had no idea that Bush created the problem and yes nationaliation of the banking industry falls at his feet. As every other government run agency. it to will fail or cost all of us more money. Name one government run agency that you can consider a success. Social security? VA Hospitals? Who is actually running the auto industry? Fannie Mae and Freddie Mac are exactly what is wrong with government. If it fails its not their fault.you know who said it wasnt the govt's fault the idiots who ran them.Barney Frank, Chriss Dodd Nancy Pelosi Dizzy Reid. the senator who said he was tired of smelling tourist who came to Washingtion, so they built a reception center that was going to cost us 61 million and it ended up costing over 200 million. yea "gobermint" is the answer.And for the reocrd , I am glad that Bush is gone as well, You havent seen nationalation yet, just wait, socialism is on it's way more than you can imagine. It not out of the possibility that web sites snd blogs like this will cease to exist.The auto executives who came in private jets, caught hell for doding that and rightfuly so, but who the hell does Nancy Pelosi think she is to bust their nads when she has her govt owned 727 taking her and her family and friends all over the country. Hypocrites!! but there are none in the congress or the gobermint...
Airlines have survived thru bankruptcy, so can the auto industry.
Lets see, this post was started in Nov, its mid February and this forum is already dead. If the paper isnt going to keep it upto date with various topics then why not just remove it as a feature
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