WSJ: Better to "set the money on fire" than give it to GM to reinforce future losses
- Thread starter wilburbear
- Start date
Here's a novel idea. Lets hold the banks to the same standards that we're expecting from the auto makers. And lets be damn clear that home values aren't going down because GM makes shitty cars. Credit isn't locked up because the UAW has a golden contract. And the entire worlds economy isn't in the tank because the big 3 ain't profitable. The banks did all that. Chew on that for awhile before judging the automakers.
Oh there is certainly lots of blame to go around, including the government and citizens of the US in addition to these banks and horribly run auto companies.
With that said, these clowns couldn't even turn a profit in the best of times, let alone withstand a violent down turn like we have now. They act like the credit crisis is the only reason people aren't buying their crappy vehicles. That's only a part (recent) of the problem.
Well before there was a "credit crisis" these fools were buring through cash like all BK companies do right before they are flushed down the toilet.
It's time for them to go.
Great idea. Why are you under the impression that if somebody doesn't want to bail out people who make shitty cars that nobody wants they are willing to bailout banks? Speaking for myself, the "systemic risk" is overblown BS designed solely to give politicians more power and incompetent, insolvent banks should be allowed to die.
Robbing competent people of wealth which they invest in businesses that produce things people actually want and handing over to people who only produce crap nobody wants is not logical. The auto companies and insolvent banks are failures. Subsidizing failure will give us more of it.
And therefore the Dems will have a problem with that because they'll lose a lot of their funding for the next election.
No union members = no union dues = no union contributions to keep Dems in congress
The Dems will then have to only rely on the trial lawyers for their biggest funding pot.
You and I are in agreement. Judging from what I read and see on the news we are in the minority. The banks have already been given the money and the big 3 are being hammered. Why? They didn't cause all this shit, the banks did. All I'm saying is that if the big 3 are allowed to go down, then so should the banks. Wall street and main street workers can all be in the soup line together. To save one without the other is cause for revolution...VIOLENT REVOLUTION.