Where’s the accountability? I love how our government is throwing out the term “too big to fail” more and more these days. The next industry in line to get a slap on the wrist from Uncle Sam is the auto industry. There’s talk going around of the possible merger of Ford, GM and Chrysler. The sole purpose of this is to get bailed out. There’s no denying these guys are posting huge massive quarterly losses in the billions of dollars. All those mortgage companies that have been bailed out. Those dirty rotten greedy bastards on Wall Street too. Small businesses fail all the time and where is their help? Small business is the heart and soul of the American economy. If there’s going to be a bailout it should be for them, not the ones making millions of dollars. Ford, GM, and Chrysler had plenty of time to adjust and change their way of thinking. How long have companies from oversees making cars more fuel efficient. My old 89′ Honda Accord got better gas mileage then most brand new cars from our Big Three auto companies. Only now do we see the American auto industry joining in. They kept trying to push those gas guzzling SUV’s and pickup trucks that kept getting bigger and bigger each year. Did the American Dream get the best of us. So much consumerism that we are now paying for it? Creating more and more jobs each year. Think of all the crap we as Americans have the option at buying at these massive super stores. So much buying and using of products, that the slightest downturn in the market and it sends everything into a downward spiral? I think we got too greedy. Too many Exec’s making millions of dollars. Too many mortgage companies allowing people to buy homes they cannot afford while they make an extra buck. Now instead of holding them accountable for their actions, we are just going to bail them out. Where is the lesson learned? I think people are going to have to lose jobs for this thing to turn around. You can’t keep throwing money at the problem. What does that solve? The bailout was bullshit, but you can argue it needed to be done. The sad reality is that it could have been avoided. Why wasn’t somebody stopping these people? You could say its borderline criminal to convince someone to buy a home they can’t afford. On the other hand, they should know better right? Either way, this whole mess we find ourselves in should never have happened, and its frightening to think how bad some experts say it is going to get before it gets better.
Tuesday, November 11th, 2008
Daily Archive
November 11, 2008