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Auto Bailout in Doubt?

CrazedWalrus (901897) writes | more than 5 years ago

User Journal 0

http://www.reuters.com/article/marketsNews/idINN1339368420081114?rpc=44

Looks like we might be finally learning our lesson! (What are the odds?)

http://www.reuters.com/article/marketsNews/idINN1339368420081114?rpc=44

Looks like we might be finally learning our lesson! (What are the odds?)

I mean, the bailout of the financial sector is going so well, and is so well overseen. Why not open up the checkbook some more? We've already spent $5 Trillion on this "crisis," so what's a few billion more?

The nice thing about this whole mess is that it only proves the point that more government is not the answer because government usually can't even get itself organized, let alone properly oversee anyone else. Add to the fact that their usual approach is "If you don't understand it, throw money at it," and you'll see how they're only making matters worse instead of better. These guys don't need money. They need Chapter 7.

I would hope that a further bailout would be a hard sell to the public, given the lack of promised controls on the existing one. After seeing how hard the media pushed for the financial bailout and the picture of Armageddon they painted, I have no doubt they could sell it again for the auto industry.

They painted those Republicans in Congress who voted against the bailout as stupid, short-sighted, obstructionist, and a hundred other things, and it turns out it was exactly the opposite. But then, who's going to point that out?

Lots of money has already been spent in panic mode, under the banner of "We Must Do Something!!" because at least then it doesn't look like we sat on our thumbs and watched the economy fall apart. Enough already. We get it. You're clueless. Stop making matters worse.

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