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I disagree. I vote YES! Bailout the Big 3. The question is: When are these bailouts going to end? They're an open invitation to the CEO's to line up for free money. It's the real economy vs. the financial economy and I'll vote for the real economy, because it benefits the average person. Why? Jobs. Why should we liquidate our industrial base to send it overseas to make more money for a select few while impoverishing Americans? No! In the 19th century, the Robber Barons robbed, pillaged, and stole, but at least we had a railway to show for it. Today's financial financial toilet paper benefits only a select arrogant few.
The cost of the first AIG bailout exceeded what the Big 3 are requesting. AIG's 2nd bailout will be $40B. As I understand it, Detroit's problems are due to the legacy costs and not current operating expenses. Bush is de-industrializing the country, possibly as a going away present to the financial institutions that own both parties and to punish the union employees who want a living wage. I realize that there are criminal elements in the big unions, but the excuse that it's the union workers fault is nonsense. Detroit is a dinosaur, like most entrenched bureaucracies. Instead of spending money for quality control, R&D, and innovation, they'll spend it on advertisement. The proof's in the pudding, which is why Detroit is losing. That can very easily be changed, but not with a business as usual attitude. Detroit doesn't like change and you don't have to look any further than what the Big 3 did to Tucker. It's time for change. Bring some new people in with ideas for today and tomorrow, and turn this country around. An economy is based on a "value added" concept, i.e. you take something from the ground and make something of it- DVD, computer, car, food, steel, etc- and sell it. We have the talent to turn it around, the only question is whether or not we have the will or more importantly the leadership with the will. President elect Obama's appointments answer that question by showing that the promised "change" is just business as usual. Joe