Showing posts with label bail-outs. Show all posts
Showing posts with label bail-outs. Show all posts

Friday, December 05, 2008

Michael Moore on the Auto Industry Bail-Out

Have you read this? If not, you should. He has a knack for cutting through mountains of crap, wielding the machete of common sense. Or something like that. Here's an excerpt, but read the whole thing. It's so simple, yet so brilliant.

You might assume from this that I couldn't give a rat's ass about these miserably inept crapmobile makers down the road in Detroit city. But I do care. I care about the millions whose lives and livelihoods depend on these car companies. I care about the security and defense of this country because the world is running out of oil -- and when it runs out, the calamity and collapse that will take place will make the current recession/depression look like a Tommy Tune musical.

And I care about what happens with the Big 3 because they are more responsible than almost anyone for the destruction of our fragile atmosphere and the daily melting of our polar ice caps.

Congress must save the industrial infrastructure that these companies control and the jobs they create. And it must save the world from the internal combustion engine. This great, vast manufacturing network can redeem itself by building mass transit and electric/hybrid cars, and the kind of transportation we need for the 21st century.

And Congress must do all this by NOT giving GM, Ford and Chrysler the $34 billion they are asking for in "loans" (a few days ago they only wanted $25 billion; that's how stupid they are -- they don't even know how much they really need to make this month's payroll. If you or I tried to get a loan from the bank this way, not only would we be thrown out on our ear, the bank would place us on some sort of credit rating blacklist). (Read it here in its entirety)

Kids ... or Cadillacs?

The Big Three

I'm Changing My School's Name to Chrysler
is the title of an essay by Seattle middle school teacher Jesse Hagopian, posted on Common Dreams.
I am going down to Washington, D.C. to ask for a handout.

My industry is falling on hard times and needs at least $34 billion to cover basic operating costs—but I assure you the emergency aid isn't just for me and my associates. The truth is my industry is too big to fail, and if it were to go under it would have disastrous effects for the economy and millions of Americans lives.

No, I am not an automaker executive from one of the Big Three (General Motors, Chrysler, Ford)—I teach social studies to 13-year-olds and the Public Schools are my trade. (read the rest)
Watching the pigs belly up to the trough (with apologies to real pigs everywhere) over the last 6 weeks has been disgustingly predictable ... or predictably disgusting. Where is the help for "Main Street" that everyone was talking about during the election?