Posted by PJH on April 26, 2010 at 21:50:05 from (72.69.95.218):
In Reply to: OT GM Lies posted by Bryan in iowa on April 26, 2010 at 11:01:04:
If the chairman is lying, he should and probably will, be called out on it.
To me, the bigger issue is: Should we hope that they do pay off in full, or hope they fail? I get the drift that there's lots of hope for failure among the posters here. Or are we not actually hoping for GM to fail, but instead, for the present administration to fail?
My biggest concern was the loss of manufacturing potential - for defense purposes. If I remember my history correctly (a subject I hated in high school) the automotive plants were fairly quickly converted to defense plants during WWII. I'd rather we have the ability to build our own weapons, rather than purchase weapons from another country, especially from one who we are deeply indebted to. . . Some of these countries that we owe great amounts of money to are NOT our friends. . . Empty and stripped automotive plants would be useless.
I'm personally rooting for success on this issue, mainly because we're already belly deep in bailouts, but also for the reasons stated above. What will failure bring us?
But I guess if we refuse to buy from GM we'll be "rubbing their nose in it". That'll show 'em.
I mean, that'll show us. You know, this is OUR money we're talking about here.
I agree 100% that we shouldn't reward failure, but I think we should hope for success in this bailout issue, now that we're involved. Again - this IS our money. But maybe after the November election, we should yank what money we can back from them, sell everything for scrap value, and board the windows. We might get a whopping penny on the dollar. Won't that be a proud day?
This reminds me of the famous Pogo statement - "We have met the enemy, and he is us".
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