Two Quick Auto Bailout Links
| Fri Dec. 12, 2008 10:59 AM PST
For your viewing pleasure:
(1) A list of the 18 Republican Senators who voted for the $700 billion bailout for America's banks but against $14 billion to save America's automakers. (Cutting wages and benefits, which was of crucial importance when it came to the Detroit, didn't seem to matter all that much when it came to Wall Street.)
(2) A well-reasoned case by Nobel Laureate (and Mother Jones contributor/interviewee) Joe Stiglitz in favor of letting American automakers go into Chapter 11 bankruptcy.
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Comments
It's a "well reasoned case" unless, of course, they have to file chapter 7, which is a real possibility. Also, 80% of Americans surveyed say they will not buy a car from a company that has declared bankruptcy. If you factor in those two possibilities, he's got a pie in the sky outlook on the whole thing
Jonathan offers: A list of the 18 Republican Senators who voted for the $700 billion bailout for America's banks...
How about a list of ALL those who voted for the (way more than) $700 billion bailout for the banks, against the expressed wishes of, by all accounts, over 90% of their constituents, and let's give 'em what they've got coming? Like a short drop and a sudden stop, politically speaking?
A free market, after all, means freedom to fail in that market.
Either we permit the consequeces of such freedom, or we should quit pretending to believe in it.
Just follow the Soviet model and keep propping up business & industry no matter how disasterously it performs.
Submitted by Ames Tiedeman (not verified) on Sun Dec. 14, 2008 8:31 AM PST.
Let them file. Let them fail. Let them emerge better!
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Submitted by ask siirleri (not verified) on Sun Mar. 29, 2009 9:16 PM PDT.
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Submitted by ask mesajlari (not verified) on Sun Mar. 29, 2009 9:18 PM PDT.
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