User 313790

GM: More Bailout-Worthy than Citigroup

Having the ability to get inside info on Citi, I can tell you that they did not need the bailout. They accepted it to stabalize the mass frenzy of investors driving down the stock. With regards to automakers they have lobbied congress away from tougher gas standards and have actually killed many of the proposals to switch their business models. As more and more dollars got built into the price of a car via unions what do you think the American people chose to do? Although fear and uncertainty is currently present in todays markets, the media continues to drive it home daily. This constant reminder that our indicators are "off" pushes people into panic mode. I am a firm believer in the free market system and I understand that every 7-10 years something in our system needs to correct itself. It has to fail in order to get better. Congress this time around, pushed hard to lower lending criteria and "we" responded, even if we were not able to afford it. Personally, when I invest my money, I read everything. Maybe that is a lesson that should be learned by the consumer who rode the false waves of funny money. I did learn that oversight to some extent needs to be present. Something that was lacking in this mess, but something that should be learned next time around. To close, I believe that no bailout of anything should ever be inserted into a free market supply/demand model. You taint the very thing that creates the wealth in this country