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I don’t know about the rest of you, but I am sick of hearing about GM/Chrysler bailouts and how Congress now is putting pressure on these two to not close factories or dealerships in the districts of certain members of Congress.
I was afraid something like this might happen when the government got involved in that.
I’m not particuarly thrilled that so many of my tax dollars are going to bail out companies that ignored the writing on the wall for so long that they got into this financial mess in the first place, but now politicians need to leave them the heck alone so they can get their houses in order and get back to profitability so they can repay those tax dollars as soon as possible.
Mr. Frank as leader of the Senate Finance Committee is one of the worst offenders. I’m truly sorry that they wanted to close a plant in your district Mr Frank, and perhaps 80 or 90 jobs wouldn’t make that big a difference to the company overall, but when you multiply that times the 535 members of Congress all hitting up the automakers with similar demands (and yes, I know you say you made a request, but THEY knew and WE know what it really was) then they will never dig out of the hole they are in. And did you ever stop to think that way MORE than 80 or 90 people who may or may not be in your district will suffer because this just perpetuates the negative news that keeps the stock market down. People who are depending on their 401K funds to live on…people who even work for that plant.
It’s a bitter pill to swallow that any jobs have to be lost in order for the automakers to get back in the black, but it’s a fact of life and we might as well take the medicine and get it over with. Retrain those people for work in other industries and get the economy growing again to accommodate them. Your antics are benefiting no one in the long run and are just muddying the waters of economic recovery.
This country can’t afford your pork barrel politics Mr. Frank.
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The whole thing is a mess. Part of me says let them fail, except the number of people put out of work across the countries costs us all in more then just dollars…so I think they have to do something. We need to make things here in the US. I really tried for years to not buy foreign made products, and was successful for awhile, then it got harder and harder as there were fewer and fewer US made products to buy. We need to have people working, making products that we buy here and stop sending all our jobs, and money elsewhere.
One wonders how long it will take to solve these problems.
Sandy — it’s a shame that so many people have lost their jobs, but the auto company executives are the ones who made the decisions that led to the problems they are facing. It’s just irritating to me that my tax money has to go to bail them out and even then, it’s not going to be enough and all we ended up doing was seeing them through the winter. Meanwhile the executives still pull down a 6 figure salary and do not go without health care and cars to drive at least while there is some spark of life.
I know that life isn’t fair and this is just one more of those instances of unfairness we have to live with.