Tuesday, December 9, 2008

Bailouts or is the government moving towards socialism

We have been listening to the proposed bailout of the auto industry for the last month or more. Frankly I am becoming bored by it all. This is unfortunate because my boredom will lead to apathy. Apathy is the grey area in which the Jacobin faction operates in this country.

Have you noticed that the auto mobile industries, the so called "Big Three" threaten disaster for the nation if they are not bailed out for their previous inability to modernize and build cars which Americans will buy. I for one am totally against any bailout. Ford, GM, and Chrysler have all one great problem, Americans like bargains. The "Big Three" have pandered to the unions to the point that auto prices have increased far above the other 3 auto makers.

Speaker of the House, Nancy Pelosi has refused to allow any of these automakers from claiming chapter 11 bankruptcy which would have required a re-negotiation of all contracts. The Unions could have their excessive benefits decreased, such as a starting wage of $28 an hour. This would not do in a Congress run by a Democratic faction which moves us closer and closer to a socialist government.

Of course the "Big Three" auto CEOs have not helped themselves. Flying 3 separate private jets like rock stars to Washington expecting adulation was a huge mistake. The driving to Washington in cars was probably just as stupid, allowing the media to portray them as full of contrition, when in actuality it was an advertising ploy.

Then we have the mortgage banking industry debacle, which congressman Barney Frank refuses to take responsibility for, even though he and his accomplices were told 2 years ago that Freddie Mac and Fannie Mae were in trouble.

AIG the insurance giant has been bailout out and its executives expect a huge bonus!

So now the taxpayers are funding a bonus. How about the stoke holders!? This is hubris.


de Brantigny

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