Posted by
StatDoc on Monday, December 08, 2008 4:18:25 PM
Bailouts
The news today is full of "bailout" news. Congress first tried to bailout financial institutions so credit will become more accessable. But why do people need credit? Whatever happened to saving for what is wanted, then paying cash for it? But that's not how the world works today. Why not? What did people do before credit was so easily extended?
Insurance companies (like AIG) are now lining up for bailouts.
And today's talk is about the Big 3 automakers wanting a bailout. But at what cost? First, if the Big 3 accept bailout money, they must listen to who bailed them out (today's government) and build cars that the government thinks is "best" for us. Second, there is a thriving auto industry in the south (Alabama, South Carolina, Tennessee, Georgia, and Mississippi to name a few) that does not pay union wages. They do not need a bailout. It seems to me that we taxpayers are really bailing out unions. And the government wants to tell Big 3 CEO's what they can make, but noone wants to tell union workers what they can make.
BTW, do you know why Mercedes-Benz located their plant in Vance, near Tuscaloosa? Because of the unlimited supply of nearby crash test dummies!