So now that we the tax payer have bailed out AIG and supported their lavish retreat right after the bail-out and now given them an additional 49 Billion, we are getting in to the automotive bail-out industry as well. Let's see, for years auto manaufaturers have been overpricing thier vehicles and refusing to make them more fuel efficient, which has bit the truck and SUV industry squarely in the A**. So since I the taxpayer will ultimately be paying for this bail-out through higher taxes, does this mean I get a seat on the Board of these manufactures and can have a say? NOT!!
Don't forget the unions role in driving up wages and management lack of backbone...causing astronomical costs for health care. Maybe instead of a bailout, the government could send every household a $25,000 voucher for a new vehicle to be redeem at the American automaker of your choice.
My DH said that the union workers at the assembly plants make ridiculous amounts of money. I just did a Google search and found this from 2007... :shock: WHOLLY COW! At one point they were paying their janitors $51/hr in pay & benefits? DH is a GM auto tech at a dealership and he doesn't make anywhere near that.
I think you might be on to something with a stipulation of only being able to buy one from certain manufacturers. Yeah, baby, Sherry
I think they were saying use some of the money thats already been alloted for the bail-out? Not that I'm crazy about it, but I can see where if they're not helped that there will be a domino effect all across the country. What burns me up is that they were also saying this morning that some of these wall st people will still get end of yr bonus checks - like $100,000. or more! WTH!! And that some of the bail-out funds might be used for that - now thats just not right! People are losing their jobs and homes, and they're getting bonus checks that equal some folks yrly income! :boxing:
girl, I saw on GMA yesterday, the undercover coverage of some AIG folks at some so called 'conference'.....ughhh.....getting pampered, flying first class, staying at a resort, limo's, the whole nine. they said they have to 'keep up appearances' for potential customers! WTH? people are calling for the CEO's head on a platter....asking him to resign. its unbelievable the pompous attitude of the folks running that business.
A co-worker brought up this scenario. The Government says the 700 Billion Bank bail-out is to stimulate the economy but that same amount of money can pay of the credit card debt of every person in the US. How about doing that instead of bailing out banks that put themselves in this position. Can you imagine the stimulation we the taxpayer would give the economy if all credit card debt was paid off? Hell, the car industry would probably see a 1,000% increase in thier daily sales!!! That would be a stimulus we could see versus the bank bailout we will never see but pay for in the end.
Your co-worker needs a course in remedial math (or stop listening to Rush Limbaugh). The adult population of the US is in the neighbourhood of 270 million people. 700 billion divided by 270 million is about $2600. Do you really think $2600 would pay off everyone's credit card debt? Heck, I have that much on only one card.
If they bail out the auto industry I want to see them bring back Desoto, Oldsmobile, Willys, Kaiser,Plymouth, AMC, Nash, Auburn....etc
What kills me is that WE didn't get a say in the economic bail out. WE... as in the American public... the ones who work and pay our bills, that is... WE get to bail out companies like AIG, who mishandle money even after getting a government handout. :boxing: I wish WE could vote on this kind of stuff instead of all the knuckleheads in Washington, since WE'RE the ones who will be footing the bill for it in the end anyway. Wouldn't it be nice if we could go a bill paying strike. :lol:
No, I mean I wish they would open the poll offices and actually let us go in and VOTE, not be "represented" by our knucklehead representatives. :lol: Seriously, on something as big and important as that huge bail out, wouldn't it be nice to actually have a voice? :neutral:
FYI - My post may have been mis-leading - my co-worker did not come up wit hthis idea, it was a published article about what else could be done with 700 billion dollars
Last week Rush Limbaugh apparently had a caller which pretty much said the same thing, and, later, Bill LuMaye was ranting and raving that it's what should be done, until someone called in and corrected the math. Mr. LuMaye was downright embarrassed.
It is my understanding that among others we are bailing out: 1) AIG 2) Banks with bad loan portfolios 3) Individual homeowners that are past due on their mortgages. And the mortgage attorneys are saying customers did not understand adjustible rate mortgages. One today stated that homeowners did not know there were other expenses associated with home ownership like utility bills, insurance, etc. So is this our fault? So why not Chrysler, Ford and GM? Look at all the related suppliers, etc. Once we started bail outs I don't know where this will end. But if Chrysler, Ford and GM goes, so goes my beloved NASCAR. How many fans are going to show up to watch Toyotas run around the tracKs. Not my family and we are big NASCAR fans.
Heck, yes! I understand exactly what you are saying and I agree. Tired of all of this. Hopefully, Hank will pull this off but I'm not going to hold my breath. Stop the madness, Sherry
