Quote:
Originally Posted by pocketkangaroo
The 3 million job total is just nonsense. It came from a report by a group paid by the auto industry. They overstated the jobs in the auto sector and didn't factor in that many of those jobs would be recovered by the other companies who gain marketshare. CNBC did a nice piece on it that showed how it's basically bullshit.
Nonetheless, it's not our responsibility to save jobs of private companies that were run poorly. There are still good car comapnies out there that employ Americans. They are just not run out of this country.
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I think the whole bailout thing is a mess. There are no good options, only bad options and worse options.
I don't see a problem with loaning $25B less to the banking sector....who are just hoarding the cash or using it to buy up other banks instead of lending it...and loaning it to the auto industry.....provided alot of strings are attached.
Also, this is politics. Nothing may get done in the lame duck session, but it will get done once Obama is sworn in.
He can't win reelection without Michigan and Ohio, and those are the communities that will be hurt the most if GM and/or Ford go under.
CNBC might be right that it won't be a net job loss for the country overall....but it's still going to kill Michigan and Ohio.
So realistically we know something is going to get done, let's just hope they attach alot of strings instead of giving out a blank check the way Mr Free Market Henry Paulson did when he gave the banks 250B and AIG 125B of our dollars.
