bingo? how so? the big three go under you better find a bunker to ride everything out. congress isnt trying to save the big three because they like the cars. Everyone needs to keep in mind that this is so that millions of americans dont end up jobless, and millions of over seas employees. basically congress isnt bailing out ford or gm, they are trying to avoid world wide chaos that the american mortgage companies have doomed us all to.
Ignorance is truely bliss, I see.
The morgage companies didn't "doom us all" to anything (at least not by themselves). They played a very large part, but that problem started with the Community Reinvestment Act and snowballed from there. When people were warning about an impending disaster due to the mess, it was intentionally downplayed and ignored by a number of people in Congress, the same ones who most adamently called for a bailout, I might add (I will let you guess which party they were from).
The "Big 3" are
already failing. Yes their failure could have very drastic consequences for our economy, but extending them money in the form of a bailout will only allow them to eventually make a bigger splash when they fail later on. What kind of damage do you thing will happen then as compared to if we let them go into bankrupcy now? Hmm?
It is clear that you have not thought this out and are just mindlessly repeating some talking points you heard without first examining them.
All
any of these bailouts (for banks, mortgage companies or anyone) have been shown to do is subsidize failure. So the business being bailed out will be able to continue in failure a bit longer and drag more people down farther when they inevitably
do fail. The bailouts have not been shown to have companies reorganize and come back stronger, correcting the mistakes that got them into this mess.
the big problem with the "Big 3" is the insane overhead associated with their cars. Some of this is unnecessarily mandated by the government (EPA), but most of it comes from the United Auto Workers (UAW) and the excessive pay and legacy costs associated with them.
The
only solution for the "Big 3" is for them to get that monkey off their back. That is a solution that declaring bankrupcy allows for, but which a bailout would remove from the table (due to government mandates attached to the bailout).
So the
only realistic solution for the "Big 3" is to declare bankrupcy and reorganize. A bailout will only hurt us more, in the long run.
The potenial fallout if we don't bail them out that you talk about is very minor in comparison to the potential fallout down the road if we
do bail them out. It is obviously a choice between two evils and the clear lesser evil is to let the "Big 3" go into bankrupcy. To run with your exagurated claim; instead of the "millons" you talk about being without a job if we don't bailout the "Big 3", it will be in the tens of millions (if not larger) if we
do bailout the big three.
