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I have ZERO faith now in any bailout proposal. The 700 Billion TARP plan that was sold to the American public got unceremoniously changed the other day. Now we taxpayers aren't getting assets for our tax dollars, instead we're helping fund more unsecured credit card debt.
Now I am asked to take an additional hit and make a 'loan' or 'bailout' that we have no guarantee will be implemented as promised.
Unless the big 3 make deep fundamental changes to their entire operation, then any bailout you give the big 3 will amount to nothing more than extra bran in your diet- congratulations! now your turd is floating.
I would only consider money to the Big 3 if the Big 3 became the Big 2 and the money is used to modernize plants to flexible line type plants and reduced overhead. Additionally, the government will have to get involved in talks with the Unions to reduce overhead to the point that the Big 2 can be competitive at all market segments.
The only way this will happen is if there are even more layoffs- so this is a long term solution that's going to make the economy sag even more. If the government just throws money at the problem with no real 5 year/10 year plan to profitability- I will vomit all over ******** shoes.
Last edited by GTAHVIT; 11-13-2008 at 03:48 PM.
Reason: We're trying to keep party politics out of the conversation.
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