The_Value_Investor

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

We changed our economy to a war economy during WW2 and we've pretty much had once since!!!! and Yes this problems did start under Clinton...I am not defending the Bush admin, but Clinton wanted everyone to have a home and his congresses w/ Dodd began to encourage more lending with less standards...go educate yourself with some time in the congressional library...it's a great site to sift through nonobjective reporting.

Should We Really Bail Out the Big Three Automakers with $73.20 Per Hour Labor?

The Democrats MUST bailout the Big 3 or they will lose MI, KY, NC & VA votes for many years to come. They will lose blue collar Dems and they can't afford that. At the same time the nation can't afford to bail them out either. The BIG 3 sealed their own fate when they were given subsidies in the 70's and instead of innovating created the SUV. There are 2 fundamental problems with the Big 3 in my mind. and they could be saved if one of them were changed. 1.) underfunded pensions due to strong labor unions 2.) vehicles with less curb appeal and reliability than competition. Innovation take time, so that fix is out of the question. So that leave these huge pensions and labor unions...well, President-elect Obama along with Biden co-authored a bill to strengthen labor unions so we know that can't happen. That leaves us with a bailout, a big bailout. On the other hand, if we don't save them and all the jobs are lost, we make the recession worse. It's almost if we are damned if we do, damned if we don't.