“If there is anything I would be willing to put cash on the table in the form of a bet, it would be my prediction that in the name of saving thousands of American jobs (REMEMBER THAT LINE), General Motors will come under the full umbrella of the Federal government.” (“Further Proof To Why I Think GM Will Become The Next VW“)
Just today~
Democrats urge federal stake in big auto companies
WASHINGTON – Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies. (more…)
““Senate Democrats are committed to doing all we can to help the auto industry. Next week, during the lame-duck session of Congress, we are determined to pass legislation that will save the jobs of millions of workers whose livelihoods are on the line. They deserve no less,” said Senate Majority Leader Harry Reid (D-Nev.).”
Well whatdaya know, history DOES repeat itself.
So much of this is a mystery to me, Duane.
I am a single Realtor. If I have a tough time selling houses these days, no one from Washington says “we can’t let Peggy fail! Send her a big check!” Nope. I either have to figure out a way to handle more transactions – or – find another job – or – rely on my (dwindling) savings.
If, however, I were a cog in a gigantic American automaker, then I wouldn’t be ALLOWED to fail…..
Isn’t it better to let that which seems unable to succeed on its own steam to fail – and let a new company and people take over and figure out how to better design, construct and deliver vehicles to the world that people wish to buy? Yes, jobs will be lost if these big companies go under. Yet, new ones – perhaps far better ones – will be created if these unsuccessful dinosaurs go under.
Like I said. I don’t get it.