Posted by paul on December 17, 2008 at 20:11:06 from (66.44.132.73):
In Reply to: O/T Bailout question posted by phillipd on December 17, 2008 at 18:48:05:
I don't mind bailing out an industry when things go wrong.
I don't believe $25 billion will help - I hear it will take $125 billion or so to get them through. I believe the $25 billion will either be lost or used as a wedge to get more money. So this is about $125 billion in my mind, and it is hard to see it ever being repaid.
I think the auto industry was in trouble long ago, and they chose not to fix their problems. Both upper management & the unions share the blame on that.
I don't see what is going to change to make the auto industry a proud, workable thing. I see the $125 billion used as a crutch to get through the bad couple years, and business will be as usual. Same crippled buiness model as we have had for years. As a show of change in these difficult times, some changes will be made - mostly smaller parts places not part of the big 3 will end up farmed out to Mexico or Pasific Rim. So, the $125 billion will be used to get rid of more USA jobs, smaller towns across the USA will be hurt, & the figurehead big company heads & big union bosses will pretend all is well & continue on without becoming a better buisness.
That is the part of the bailout that bothers me.
If the money would be used to make a stronger, better, proud USA buisness return, I'd be in the front of the line to hand over the $125 billion - knowing it won't come back.
But.... Seems we are just going to throw money at bad leaders (on both sides, co & union) and continue on the same bad business plan. And that bothers me. All we get is a sour, poor business that is lurching along, not really successful or leading our ecconomy forward. More of a drag on the rest of us than a shining leader of industry....
So, it is a difficult issue. I'd understand helping the industry if it would do some good. But I fear it's just a money-hole, that does not return strength back to the USA.
Does it cure the illness, or just prolong it? In any case I feel for the workers, and for the suppliers of components. I think with or without the bailout, they will be hurt, and I wonder if these groups will be better off with or without the bailout in the long run?
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