Friday, December 12, 2008

Bailout Fail..

Senate fails to bail out the auto industry....so....the white house pulls a 180 and offers to bail them out anyway.

Republicans? What Republicans? I see no Republican's here.

1 comment:

Shane Conder said...

You've got to be kidding. How's this line: "The defeat of a $14 billion bailout plan in the Senate late Thursday left the administration little choice but to tap the $700 billion bailout approved by Congress in October, the Troubled Asset Relief Program or TARP."

That's CNN talking.

And _of course_ they had a choice. They could let the FAILING companies FAIL. It's a terrible investment -- the car companies have consistently made bad decisions and fail to make cars we want (otherwise they wouldn't be doing so bad, would they? This isn't their first bailout, after all). They aren't the exclusive auto employers in the country, either -- foreign companies employ a LOT of Americans. So let them fail. As their stock drops, someone will pick them up on the cheap - they do have physical assets like factories. It's not like they'll just vanish.