What the hell is Congress doing? They approve a whacked-out $700 billion bailout plan for Wall Street with little or no accountability for an industry that produces nothing but red and black numbers. Then they make the Big 3 automakers sweat and grovel for a handout that, while ridiculously large ($25 to $35 billion) is still a pittance compared to the previous amount. And the automakers actually make something! Just because it's a product that a lot of Americans are not asking for isn't the point...
One interesting point is that Big Bro didn't ask to be cut in as a partner with the car makers like he did the banks. What's up with that? Detroit not good enough for the wannabe central banking set?
And why is it that we have to be put in a position of bailing out the auto industry, anyway? Remember the last two years? When gas prices were atrociously high and the oil companies were pulling in billions of dollars in sheer profit, quarter after quarter? It makes more sense that they should be ponying up a big ol' cash life preserver for the companies largely responsible for their windfall.
In the case of both of these bailout situations, the true solution should simply be that large chunks of money should just be forked over to the American people. Not because we're brilliant en masse or that we deserve it but because we would know what to do with all of that deliciously filthy lucre -- we'd spend it. Every bit of it. End of crisis. America saved!
At least until next month.
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