Quote:
Originally Posted by artm3
isn't that socialism?
using public money to prop up poorly run companies whose executives have reaped profit even though they lost money?
doesn't this entitle the government a stake in the company?
then it becomes partially 'state' owned?
25% of the country already works for the government...now the private companies will be govenment funded to stay in business? it's madness...
we need to stop wasting money and prolonging the inevitable...
these companies are doomed to fail...
their time has passed...
let them fail and be reformed in a more sustainable fashion...
it's the American way...
don't waste the $$$$
they have been living off of our money (stock losses, ie, 401's, IRA's, etc.) for the last 10 years...
now, since we won't buy their junk we must support them with taxes?
and for nothing in return?
it's downright un-american
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No, they are asking for a loan. They are not selling or giving a stake in the company to the government.
America is known around the world as the country that helps out to those in need, but when our own need help it somehow is different. Interesting.
To me, it would seem "un-American" to not help the automakers out and simultaneously make a decision that would boost the economy as a whole.
Many reports find that if the big 3 went under in year one ALONE it would cost the US economy over $150,000,000,000. Seems like simple math to me, 25,000,000,000 < 150,000,000,000+.
Also, you say "since we won't buy their junk," but I must wonder what makes something qualify as junk when Ford has been tied with Toyota and Honda for #1 in quality for about 3 years now, at times even having MORE segment leading vehicles than anyone else.
Also, Ford has more 5 star crash tested/rated vehicles than ANYONE else. (Which would lead me to believe they were fairly well designed and put together, no?)
By 2010 Ford will have a 40% refreshed lineup consisting largely of already proven European models. These vehicles (mark my words) will lead their respective segments in design, quality, reliability, safety, and value.
I know that the knee-jerk reaction in a situation like this is to say "tough luck, too bad, so sad." Trust me, I get that. I'm a huge fan of capitalism and I understand that rescuing these companies in a time like this seems to go against the capitalistic/darwinian view. However, it's just not that simple. If you look at the BIG picture you will see that it is in the best interest of the same tax payers that would be providing the loan TO provide the loan.
This has been done before and it actually MADE money for the government (Chrysler in the past).
Naturally, we're all of course entitled to our opinions. So let's keep this topic friendly, and more of a topic about "finding the best solution" rather than a "I'm right, you're wrong" type conflict.
I just want what's best for the country as a whole.
