Bailout Double Standard?
accountability and austerity are required of the auto industry if they are to receive any public funds to help them in their time of crisis.
The first thing I wonder is, where was this kind of attitude when it came to bailing out financial institutions that have proven they don’t have the brains to keep out of idiotic deals guaranteed to fall apart?
Don’t get me wrong, I think that the auto industry needs to be accountable for all of the really poor, greed based, decisions that put them in this spot, however so also the financial industry should be held accountable. Probably more so than the auto people even, since if Wall St. hadn’t just about imploded, the auto people *might* have been able to pull it together some.
Frankly, just as the financial people could not be allowed to fail, neither can the auto industry be allowed to fail because a VERY large part of our economy is based on the design, manufacture, sales, and maintenance of cars. Allowing American auto makers to fail puts us a the mercy of foreign investors that care about our well being only so long as it benefits their bot
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