More bailouts? Because the last one went so well… November 18, 2008
Posted by onemouthband in : Randomnimity , trackback
Another exercise in futility, this time against the US Automakers. Care to join me?
Here’s the letter I just sent to Senator Barbara Boxer, Senator Dianne Feinstein, and our old friend who is still in office, President George W. Bush.
I oppose the $25 billion in emergency loans to the auto industry because they have done nothing to earn additional assistance. The market is holding them accountable for decades of poor decisions, and it is not the place of the US government to reward such flagrant stupidity.
I feel for those who will likely loose their jobs as a result, but no one has proposed a $25 billion dollar job retraining program and relocation fund (which would be a more permanent solution to the problem, rather than just a temporary one). Such a thing would be laughed out of every office of government. This proves that joblessness is not the issue here. Therefore I oppose ANY bailout of “The Auto Industry”. It is not an industry that is getting a free handout, it is a failing structure filled with failing decision makers who are using the hard-working little guy as human shields.
It is understandable that automakers should ask for a bailout, it is their job to ask for a bailout on behalf of their shareholders. But it is the duty of the US government to determine if that is in the best interests of the rest of the nation. It clearly is not.
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