The Irony of the Automaker's Situation


OK, maybe it's just inconsistency but have you noticed the differences between the bank bailouts and the automaker bailout? To me, it seems like our Treasury is writing blank checks to any bank that's big enough to warrant the label "can't be allowed to fail." On the other hand, the automakers are being grilled mercilessly by Congress, forced to prove they're viable long term, and being offered few assurances that they'll get anything.

Some may say that it's not fair to the automakers. I say it's not fair to the taxpayers. All of these financial institutions out there should not be getting blank checks. They should be grilled mercilessly and be forced to prove their viability. Why the double standard?

So here's the irony: the automakers, who actually produce something (cars and trucks), are being asked to justify their existence while financial companies, who don't actually produce anything (they just move money around), are deemed too important to fail.

So what's more important, money or the things that money buys?

Comments

Just another example of the stupidity of government and why we should never, ever let them run any type of business! Free Enterprise is the only way to go! So if the CEO's are stupid, they will fail, and the stong and wise will prevail. THAT's the AMERICAN WAY! (I know it's been forgotten...)
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