Strangewalk

The Truth About Bailouts

I agree with those who say that assisting the automotive companies at this time is a unique issue, separate from bailing out the slippery, oily crooks on Wall St. and financial industry. GM and Ford especially have been getting their act together in terms of world beating quality improvements, dealing with the unions and restructuring in a serious, responsible way to compete as 21st century industrial powers, and their management now is top rate. The desperate situation they face is a result to some large degree of the general economic collapse and subsequent commodities bubble (high gas prices) caused by the slick con artists at Lehman, Countrywide, AIG etc. Peter Schiff is advocating throwing the the baby out with the bath water, and he missed it on this one.