Wat do u think of ALL those BAILOUTS?

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IslandGirl

It's retarded. If a company doesn't know how to run a business and gets themselves into financial trouble, they need to be responsible.
But no, instead the top guns of the companies come out with millions while all the workers get screwed, and then they fly into congress (on their own personal planes) and beg for bailout money. Can we say retardedly Ghey, and completely dishonest.

psychologist_4u

A waste of time and money, the auto industry has been dying for years, failure to read the 'market' and compete with Japs and Koreans [ even the ones who have plants in U.S. so don't give me the old "they pay workers peanuts" story! ]. Weak companies should be allowed to fail, the stronger ones will pick up some/ most of the plant and workforce. The real problem was easy/bad credit [ who do you know that buys a car for cash? ].No pain, no gain, people must relearn the art of working harder and saving more for the 'things' they want. As regards obscene payments to C.E.O's, shareholders allowed this !, because they were getting dividends, sanity will return in this area.

LÃºta

Bailing out companies who couldn't stay afloat is not the best idea in the world. Are they going to manage to stay up and running? Do we really want to bail out companies that are not keeping up the quality? The difference in the quality of the seats between the 2004 Avalanche and the 2008 Avalanche are great. Quality has gone down since then.

But then to lose all those jobs.... I'm not sure what the best thing is.

pissy_old_lady

I do not approve of the bailouts...there is no guarantee the companies will be able to stay up and running after the bailout resulting in no pay back and no jobs for the employees anyway.

dschmidty412

We should be bailing out Americans instead of Corporations first. People are losing homes and neighborhoods.

I hate banks.

Set apart

They are tests and our economy the guinea pigs...

dkuddle

I didn't approve of the bank one, but I think I might've approved the auto industry one. I'm worried about the loss of jobs.

Of course, I think in order to get all that money, these companies should have to liquidate some of their other companies. Get rid of material junk they don't need, like bypass those big fat luxuries and benefits that Corporate pigs get to enjoy at the expense of the people working for them.

texanskid

It has its good and bad things about it. Everyone blames the banks but if a 22 year old was going to come in and needs a loan for medical school are they going to ruin his/her future and not give him/her the money? The banks dont know who has the ability to repay them because people with credit lost a lot of money. Everyone had to get into the housing market when it was doing really well. Heck, there was even 3 shows on tv about flipping houses. If they dont bail the banks out then you will see a ton of bank runs and I dont think people are going to consistantly want to carry around their life savings in their wallet. As for the auto bailout, well they just went down when gas prices went up. It wasnt the CEO's not knowing how to run their company.

On the down side of it is if you keep bailing companies out then where does it stop? Any large corporation will now be coming in asking for money. American Express now changed their books so now they are a bank just so they can get some free cash since they were doing so horribly. Also, its completely against the free market we have gone for since America began.

kevinbullfrog

The problem is the system. Why are banks allowed to lend out more money than they have, and sell loans to 3rd parties? I thought only the United States gov't could print money, but isn't that exactly what banks do when they give out loans they don't have enough money to back? As for the auto industry, well they were just failing anyways. The only reason they need emergency cash now is because credit dried up. The short term solution is to just give the bailouts, to prevent disaster. The longterm solution is to re-invent our loan system because left to its own devices, capitalism self destructs.

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