2% (mini-rant)

[margotb822]

That's how much $14 billion is compared to $700 billion.

It's equivalent to one month of spending in Iraq and Afghanistan.

Why can citibank get $20 Billion on a Sunday, but the auto companies have to low-crawl through No Man's Land for a fraction of that?

Why can we give banks essentially unlimited money for unknown costs without so much as a "thanks for the reach around, Congress," but the auto comapnies are forced to stop bleeding before we give them band-aids?

Why is there so much chaos about this auto bailout?

What, did Republicans start caring about the tax payers' money? Why can they always go back to that line when it's obviously not true?

This is the most bullshit excuse for government and leadership that I have ever seen. They play this partisan crap instead of doing their jobs. They claim to be "representing their constituencies," which is fine...if it were applicable to this situation. Their constituencies don't know crap about the economy, economics or the impact of the failure of the auto industry. They're representing their own selfishness.

Well, fuck them. They're the reason this economy is collapsing. Not unions.

You know what? Honestly, as destructive as it is, I hope they continue down this path. The further they move from Democrats and Independents, the less viable they become. So, I hope they make the next two years about oppsing the Democrats and opposing progress. It'll just come back to bite them in the ass (and I bet they'll like it). And, in 2010, they can all sit around and point fingers at each other because, God knows, none of them are capable of taking responsibility for their own dumbass actions.

Thanks for the rant. Have a good weekend.

:rant: :hi:

[Deep13]

1. The difference is simple and significant.

First, I really don't know whether it is worth lending Fed. money to the big three or not. I don't know enough about it.

Having said that, the public need for supporting the financial insutry is compelling, immediate and sudden. The lack of short-term credit for ordinary day-to-day operations of business is frankly crippling the economy. Banks are scrambling for liquid assets. My wife's family owns a small factory that is doing very well. Nevertheless, the bank is looking for an excuse to call in their loans because cash has become scarce and even profitable customers are not worth the exense. If the bank does call in the loans and reposesses its equipment, that company and its 20 employees will be finished. The taxes it pays will be gone. It's vendors won't get paid. It's customers won't have whatt hey need in their industries.

This is just one small example, but it shows how the effects of a lack of credit can be catastrophic on so many levels. On the other hand, the big three have been declining for years and there is no real reason to think that a loan is going to make any real difference in the long run.

[margotb822]

2. I'm opposed to the disparity

I would say that there is plenty of compelling interest in keeping the US auto market afloat, and that we're asking the auto companies to do much more in order to ensure their future success. Banking execs didn't have to jump through nearly the same hoops to get 50x the money that the auto makers are asking for. The bank loans were supposed to stave off future business and economic collapse, but it didn't solve the root of the problem. I'm not saying that businesses shouldn't have to restructure, but where is the parity? Why do we not hold all businesses to the same standards?

And they hypocrisy of the Republicans in this mess shows just how screwed up their mentality is. They're fraudlent liars and complicit in the continued downward spiral of this country.

[napoleon_in_rags]

3. Rec'd. That's what's so damn ridiculous here.

The fact is that the majority of the republican base was furious about the banking bailout, and now this comes along as a completely meaningless distraction, 2% as you said. Now they can pat themselves on the back for being "pro free market" because they let American auto companies crash, when all the needed was a loan, pocket change compared to those rich bankers who have put future generations into deep debt.

[margotb822]

5. The republicans are such crocks

I can't understand why they continue to be reelected. And, they're free market policies have done so well, right?? :sarcasm:

[HCE SuiGeneris]

4. The power brokers and elite get to siphon off funds from the 'Financial Bailout',

while the auto industry does not provide the same shrouded curtain and actually would benefit 'ordinary' citizens.