I'm going to be upfront about what the government needs to do to handle this.
The best option would be to nationalize the auto industry. If the industry wasn't able to manage itself well enough not to need a bailout, our government representatives need to step up to the plate.
But if that doesn't happen, the government needs to pay for the auto bailout by taking it out of the much larger bailout the banks got.
And they need to tell the auto industry it doesn't get a penny unless it gets out of the SUV business.
Other than that, I guess you can say the car industry bailout is a bargain compared to the massive giveaway to the banking industry.
I find it rather hypocritical that the Republicans defend the bank bailout but keep insisting that autoworkers take a 50% pay cut.
Friday, December 12, 2008
How to handle the auto bailout
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I'm shocked you'd consider nationalizing the auto industry an option, let alone the "best option."
ReplyDeleteWhat's wrong with nationalizing it? I suggested the same for the oil industry during this summer's price gouging.
ReplyDeleteThe creation of a government-controlled monopoly is seldom, if ever in our best interests. Even you have railed against the Postal Service. And remember, the government itself is bankrupt due to mismanagement.
ReplyDeleteActually, I shouldn't be surprised. The oil companies are too successful, so you want the government to seize control. The U.S. auto companies are failing, so you want the government to seize control. I see a pattern here. What DON'T you want nationalized?
The auto industry now is nearly a monopoly. There's only two American auto makers left, I think?
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