Reality check! If a business goes belly because of mismanagement up it goes out of business. Simple as that! After all, who’s fault was it? The business owner(s)!, right? Think again!
Though I don’t agree, I do understand why the Government bailed out our nation’s financial institution’s. Had they not, the domino affect would been globally catastrophic. On the other hand, I’m against bailing out companies, i.e. the auto industry. After all, it’s not our (the tax payer’s) fault that they are on the brink of a corporate wide melt down!
Today, the auto industry will be receiving billions of our tax dollars in order to keep its operations from going belly up. I am so against this government hand out (corporate welfare) because the auto industry squandered the opportunity to become self-reliant by refusing to compete with foreign manufactures, mainly the Japanese, who manages their operations responsibly, produces quality cars, and is willing to invest into the future by building environmentally friendly automobiles. The U.S. auto manufactures should have been doing the same, but didn’t. Now, is it our fault that they are needing billions in tax dollars in order to keep doing more of the same? I think not!
Instead of selling the American consumer gas guzzling and poorly manufactured automobiles, the auto companies should have been working on improving there image and products which in turn would have allowed them to vigorously compete with foreign counterparts. Had they done away with the “business as usual” mentality, today, they would not be needing my (our) tax dollars to support their poor management practices.
Yes, I understand that if the auto industry goes belly up it will cause further hardship on an already crumbling economy. On the other hand, perhaps they need to go belly up. This in turn will force these auto manufactures to improve their products and better compete on the world market. As it stands, even with the bail out, I believe that the business as usual mentality will continue and they will return to Washington seeking more of our tax dollars. The cycle will not end.
As for the promise to repay, sounds good!, but if the auto companies do go belly up, well, forget ever seeing any of our tax dollars being paid back! Risky business, yes! As I see it, this bail out is to risky and as tax payers, unaffordable. In my opinion, there are better ways to spend these billions of dollars than giving it to companies who took themselves to point of no return.
Though I don’t agree, I do understand why the Government bailed out our nation’s financial institution’s. Had they not, the domino affect would been globally catastrophic. On the other hand, I’m against bailing out companies, i.e. the auto industry. After all, it’s not our (the tax payer’s) fault that they are on the brink of a corporate wide melt down!
Today, the auto industry will be receiving billions of our tax dollars in order to keep its operations from going belly up. I am so against this government hand out (corporate welfare) because the auto industry squandered the opportunity to become self-reliant by refusing to compete with foreign manufactures, mainly the Japanese, who manages their operations responsibly, produces quality cars, and is willing to invest into the future by building environmentally friendly automobiles. The U.S. auto manufactures should have been doing the same, but didn’t. Now, is it our fault that they are needing billions in tax dollars in order to keep doing more of the same? I think not!
Instead of selling the American consumer gas guzzling and poorly manufactured automobiles, the auto companies should have been working on improving there image and products which in turn would have allowed them to vigorously compete with foreign counterparts. Had they done away with the “business as usual” mentality, today, they would not be needing my (our) tax dollars to support their poor management practices.
Yes, I understand that if the auto industry goes belly up it will cause further hardship on an already crumbling economy. On the other hand, perhaps they need to go belly up. This in turn will force these auto manufactures to improve their products and better compete on the world market. As it stands, even with the bail out, I believe that the business as usual mentality will continue and they will return to Washington seeking more of our tax dollars. The cycle will not end.
As for the promise to repay, sounds good!, but if the auto companies do go belly up, well, forget ever seeing any of our tax dollars being paid back! Risky business, yes! As I see it, this bail out is to risky and as tax payers, unaffordable. In my opinion, there are better ways to spend these billions of dollars than giving it to companies who took themselves to point of no return.
Hey Philip...I completely concur...I am so against Corporate Bailouts! There was no governmanet agencies, banging on the doors of my closed restaurant, to bail me out. I had to accept, that it was MY loss and not the loss of other taxpayers. I love your site. Have a fantastic, 2009...You deserve it!
ReplyDeleteMichael