Quote:
Originally Posted by buggyone
Bucco,
You would have rather let the auto manufacturers go bankrupt and out of business than to bail them out? The country was in economic turmoil at that time when Bush Jr first gave money to the auto manufacturers. This was necessary to have them survive. If they had gone bankrupt, the entire Midwest economy would have totally collapsed with millions of American workers out of a job. It would have been the final straw that would have pushed the world economy over the brink.
Your bank accounts would not have been worth anything. Your retirement package would be gone up in smoke. The housing market would have collapsed completely and disaster would have been right there.
No matter who was President, the bailout of the auto industry was the right thing to do.
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Everything you say is your surmise and is the LINE of the Democratic party. I submit that all you say would have happened would NOT have happened. The ONLY thing that can be said in a legitmate manner is that the private money was not there...I DO NOT AGREE, but lets assume it was not...THEN bail them out.
This bail out has EMPOWERED THE UNIONS and is such a shallow "victory" that did nothing to reestablish these companies as stronger entities. Let the system work....it will. Some pain, maybe....but you will come back stronger....they still pay the big bonuses...unions are stronger than ever....dont see that as a good thing !