Ramses II

The Truth About Bailouts

Very articulate but unbalanced view of the serious situation that our country is in at this time.

Letting the auto industry go at ANY given time is debatable, but with our economy in the state it is now it would foolhardy - at best!

Over the long term, we will continue to lose our ability as a nation to engineer and manufacture our own goods. It is already happening at a alarming rate. The Big 3 need some oversight - this may be true, and if so, this is the time to do it. However to let them go..... This is unspeakable foolishness on many levels.

Respectfully..


On Nov 23 12:01 PM HowDan wrote:

> Once again, a fascinating, well-articulated and insightful article
> which extrapolates many key points about why these ridiculous,endless
> bailouts do not work.
> Like Peter, I have also been trying to explain to people that GM
> and the automakers should not be bailed out, partially due to the
> fact that if they are handed $50bn on a plate, they will just burn
> through it in a matter of weeks and then be back begging for more
> - why on earth should we (the taxpayers) pay for the sickening greed
> and utter incompetence of the automakers CEOs?
> Additionally a question which raises serious concerns is :-
> What happens if, due to the massive increase in US debt levels and
> rapid detirioration of the US economy, the major purchasers of US
> Goverment debt (i.e China, Japan and the MIddle East) decide to stop
> buying and even sell their $900 TRILLION worth? Then what?