So, the Big 3 are back again to try to beg for the money they say they need to stay afloat. When they first came, in their private jets, they were asking for 25 billion from the taxpayer. Of course, they said it was going to be a loan, which would be paid back. But I wonder, if we pay for the bailout with our tax money, and they pay back the loan, do we see that money again? I doubt it. If the money leaves our pocket, we won't see it again. Now they are asking for 34 billion. An increase of 9 billion in 2 weeks. Wow, I would love to see this kind of increase in my pay that quickly.
Iknow the biggest problem with not helping out the auto industry. The biggest problem being that lots of jobs will be lost. But is it really a good idea to fix a boat with a whole that is sinking with elmer's glue? These companies aren't failing because the economy is hurting, these companies are failing because of bad business decisions.
Before we start giving money away to these auto makers, let's look quickly at what just happened. Some major banks just got billions of dollars to help free up funds to start lending again, with the idea that it would help people be able to start buying homes. But what happened? The banks took the money, and did what with it? NOTHING. They said they were going to free up some money, but they haven't and no one is making them at this point. Is anyone is control out there? It is getting very frustrating.
But I digress. Today, the Big 3 will ask for it's money. They will try to convince that it is necessary for them to have this gift. It is very important that the right decision is made, because we don't want another disaster like TARP.
What are your thoughts on whether or not the Big 3 should receive this money? The pros and cons.
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