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We, not Big 3, have the bailout blues

Dec 8th, 2008 by Taylor Armerding

I think the Big 3 auto CEOs got close to exactly what they wanted.
They said they needed $34 billion. They’re only getting $15 billion. Sounds like Congress was really tough, giving them less than half what they needed.
But that ignores the standard opening gambit of any negotiation - you ask for at least twice what you really need. Then, when you settle on what you really need, everybody looks good. In public, our reps and senators all look like good stewards of the public purse, while making harsh pronouncements about the auto companies’ business models and vowing that there will be strict oversight of this strictly limited bailout. The CEOs look chastened, humbled and slightly desperate, as if they’re not sure they’ll be able to stay out of bankruptcy with such a pittance.
But once the TV lights are off, everybody winks, nods and smiles.
And why not? It’s the rest of us who are getting the bill.

Posted in Taylor Armerding | Comments

  • bilge rat
    St. Joseph School is closing....
    How do they apply for a bailout????
    And don't throw the non-profit argument at me.....when was the last time the Big 3 made a profit????????
    In seriousness, this is only propping up the UAW and a failing business model....absolutely ridiculous.....
    BOHICA, everyone....
  • jacrlsn
    The whole idea that you could solve a problem that was created by the excessive use of credit by the government and us, the people by making more credit available has to take the cake for stupidity. Now, everybody and their brother want a piece of the 700 Billion $ and whatever else Pelosi, Reid and Obama will be offering. Now thats a deadly combination of people. But that's OK they can blame Bush fo anything bad that happens.
  • Mark
    We can blame Bush because Bush, like the rest of the upper-class money hungry republicans, is the war mongering jackass that got us into this mess. Any money given to corporations to keep them afloat should be restricted to being used as PAYCHECKS for anyone who is not upper management, or to purchase inventory nescessary to keep things moving along. No money should by ANY reasons be sent overseas, like to the Japanese car companies that are all merged with the American car companies these days.

    I can't believe people are still trying to defend Bush. The man has started two wars and is chomping at the bit to get in at least one more attack someplace before he gets put out to pasture.
  • Tom Delaney
    Dear Mark:

    1) I can only presume, from your comments, that Dubya called the Islamofacists on the phone to fly planes into the Twin Towers, the Pentagon and a field in PA.

    2) Let’s get one thing straight…money isn’t given to Corporations. It is taken from you and me via the Congress in the form of taxes. Therefore no management will ever be needed in the future because “Big Daddy” (read COMMUNISM) will supply all our needs. When was the first and last time an indigent person paid you?

    3) No money overseas? Mark, do you really want the Japanese car makers to remove their factories from the US? What about our car makers in Europe that are making money because they don’t have the idiotic standards that the GREENIE WEENIES practice here in the Republic?

    4) Please dig deeper into your mind….The United States of America is the greatest country on earth. Why do you think we have so many illegal aliens? Two wars! There is only one war. That war is to keep the United States of America FREE!
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