Mike Tells It Like It Is ! GM Ford Forget About It !

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http://www.financialsense.com/fsu/editorials/stathis/2008/1119.html

Snippet:

The Big Three have had decades to correct their problems. But they’ve done nothing because management always knew they would be bailed out if needed. This precedent was established in the late ‘70s with Chrysler’s bailout. We see how that’s turned out. Corporate bailouts need to end here and now. Always remember this; bailouts must include nationalization. You cannot have one without the other just like you cannot have a free market economy without the consequences of failure. If a company receives a bailout without being nationalized, taxpayers get screwed.

Has Washington forgotten that America is supposed to be a free market economy? If businesses can’t make it on their own they must fail. Otherwise, bailouts will create the worst kind of socialism possible – selective socialism for corporations. At least in legitimate socialist nations, everyone is provided with higher education and healthcare. America’s form of socialism favors only corporations at the expense of the working class.

A free market economy works great, but only under adequate oversight, real accountability and most important, the consequences of failure. It’s time for America to go back to a free market economy. Let the free markets determine the fate of the Big Three. The same goes with the banks, airlines, and homeowners. After they experience the downside of a free market system – failure – they will learn how the game is played. Entrepreneurs will pick up the pieces and find a way to make things work and the future will be better for all Americans. But this is not to be in the New America. Bailouts will continue because corporate America owns Washington. Most likely, the Big Three will get blank check, as will the airlines.

I say let the people decide with a vote. It’s our money. We should decide. Virtually no one in America trusts Washington to decide for us. They have already handed the banks a blank check against the wishes of most voters. The American people are absolutely sick and tired of hearing excuses from an industry that has done nothing but ignore them for decades. Let me make a prediction. If an auto bailout were put to a vote by taxpayers, 90% would vote no. The other 10% would come from those who stand to gain from this corporate welfare plan.

Copyright © 2008 Mike Stathis
Editorial Archive

[Trajan]

1. I am going to speak on behalf of a good many DUers ...

You provide a link, and nothing else ...

Frankly: I am not interested in linking into all possible websites .... I come to DU to read in DU ... If something peaks my interest, I will jump to the link ....

I will not open a link if no other text is provided ...

Pretty simple ....

[liberal N proud]

3. Don't bother

Just another article claiming that the US would be better off when the UAW is gone.

[Trojan]

4. I have a Simple Solution for YOUR Issue !

Many find the articles interesting. Some do not have time to find these different points of view.
Your ISSUE is solved by NOT clicking on any editorial with my name on it !

My Mother said or maybe your Mother said "If You Have Nothing Nice To Say, Say Nothing"

Why add something when the writer made all the points I agree with. Different STROKES for Different Strokes ...

Have A Great Day !!!

[Rabrrrrrr]

2. Excellent. Willing to place blame all around, and quite accurately thought out -

yes, indeed - fire the CEOs and the boards, and start over.

And no fucking bailout.

Let 'em fail.

Someone who knows how to run a business will buy them up - they still have incredible assets - and turn them into brilliantly performing workhorses.

Bailouts are a shitty idea.

America is full of brilliant, new-idea, entrepreneurial workhorses. This is how we let them rise to the top and shake out the garbage of the old schoolers.