How many companies can the tax payers continue to bail out?
I don't mind bailing out the auto industry or Wall Street.
What I do mind is the lack of a cohesive plan in which people are held accountable and the consequences are dire.
Mr. Paulson has already squandered half the loot and has single handedly decided that the homeowners are not part of whatever plan he hatches that day.
The auto industry went to apply for their bailout money today and they all flew in their corporate jets.
The total lack of disconnect between their actions and their lifestyle is mind blowing.
Both parts of this bail out (the wall street crooks and the automobile thugs) don't seem to think that their livestyles and their way of thinking needs to change in any way. All they want is to continue as usual and feel a sense of entitlement to tax payers dollars.
All 3 CEO's spent over 30K flying in their own private jets.
I just found out that GM is opening a multi-million dollar factory in Russia to build European cars there.
It is a good thing that the Auto Bailout Vote was cancelled today.
The majority of the people in this country are fed up. They have been bled dry and to make matters even worse, there is no one advocating for their needs in Washington.
The Big 3 has blamed everyone but themselves for their inability to successfully manage a very competitive business.
For years they have complained about the cost of health care and have done NOTHING to advocate National Health care. They have blamed the Unions and the workers. They have the ability and as I stated in another post about cars they are making, and selling, in Europe that exceed the 60 mile a gallon litmus.
They could have refitted their plants to make the SAME cars they are already making, and selling, in European markets. But as we used to say when we were kids..... "something is rotten in Denmark" because their stubborn defiance to make any changes here are high indicators that they want these companies to fail in the United States.
Their lifestyles can't possibly change that much, after all, they all have more money that God.
I have a feeling that Europe is where they want to be and sell their vehicles here. Of course, made elsewhere. We are nothing more than open wallets, unfortunately, we are now empty wallets and the consumer power of the past has not only been eroded over the years, but it has come to screeching halt.
Retailers are sweating bullets, their stores closing, the importers can't sell their wares here either since the AMERICAN consumer is broke, unemployed and loosing their homes.
Are we all aware that the Energy Department has $250 BILLION dollars for the auto industry, exclusevely earmarked for innovation?
It is obvious that they would squander that money and produce nothing. How do we know this? because they are asking to release that money into a loan (to be paid much later, I'm sure) and not worry about the nonsense of innovation.
Is Bio Fuel the way to go?
How about building connecting thingys .... oh, I don't know... like the railroads in Japan with their bullet trains...
How about ANYthing that works? That would be innovation and we can't have that.
When they refer to the workers it is always with disdain, as a good old (very young, actually)l queen saying "let them eat cake".
I say "Off with their heads". Let these companies sink and, like a Phoenix. a new industry rise up from the ashes unencumbered by corruption and complacency.
PEACE to all.