$25b for the big 3 automakers to survive or not? I can't believe they've run their companies to need that kind of money. They kept making oversized gas sucking trucks and suv's and now want money to change to smaller fuel efficient autos even though they've managed to stay in business this long w/o that. This is ridiculous. Please if someone can defend a bail out - convince me. But them threatening to cut thousands of jobs if there's no bailout is no defense - that's just blackmail on their part.
Amy makes a very good argument and very persuasive. But I can't buy in to the too big to fail argument anymore. They have to restructure and they don't need 25 billion to do it. They will come back in some form or another, but rewarding lack of innovation or foresight is going to destroy this country, not letting incompetence fail. They should have prepared for this exact situation and had plenty of time and money to do it, but they didn't. I feel for the short term pain it may cause, but it's better than corporate welfare.
The financial industry needed help but those too large to fail banks need to be broken down too - using antitrust laws or something. And I think the underlying problem there was speculation and overvaluation on property and real estate - not low interest loans.
By: tshnobodysfool
Amy makes a very good argument and very persuasive. But I can't buy in to the too big to fail argument anymore. They have to restructure and they don't need 25 billion to do it. They will come back in some form or another, but rewarding lack of innovation or foresight is going to destroy this country, not letting incompetence fail. They should have prepared for this exact situation and had plenty of time and money to do it, but they didn't. I feel for the short term pain it may cause, but it's better than corporate welfare.
The financial industry needed help but those too large to fail banks need to be broken down too - using antitrust laws or something. And I think the underlying problem there was speculation and overvaluation on property and real estate - not low interest loans.
By: tshnobodysfool
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