[jbolte1976]

Hi everyone,

Just wanted to see what everyone's opinion on using part of the $700,000,000,000 (big number) for bailing out the auto industry.

I understand their is a larger impact of letting them fail. If I recall correctly they are asking for $25,000,000,000 to keep a float.

Should the auto industry own some of thier current financial difficulty?

Is the economy the only reason they are in the situation they are?

How about the $25,000,000,000 goes to creating new jobs, training, etc for the auto industry's work force that could be laid off instead of the big 3 getting this cash infusion.


If some of my facts are correct speak up. Let me know your thoughts on this. No doubt this stuff is on all our minds.

Take care,

Jason

[BeatleManU]

I'm not sure of the exact details either, but I do believe (from what I've read) that some sort of bailout is necessary. Unfortunately, what seems to be happening (at least with the banks), is that money given for bailouts is not necessarily going towards what it's supposed to go to. There are already reports of companies having lavish trips, after the 700 billion dollars was given. AIG had a $50,000 hunting trip, which may not sound like a lot compared to 700 billion, but that's somebodies salary for a whole year that's unemployed now. I know they've said that that was a one of thing, but who's to day that they just aren't covering there tracks a bit better now? We need the bailouts, but I think we really need to see where all this money is going because it's the American taxpayers money, so shouldn't they see what they are paying for???

[aryaman2008]

Originally Posted by jbolte1976

Hi everyone,

Just wanted to see what everyone's opinion on using part of the $700,000,000,000 (big number) for bailing out the auto industry.

I understand their is a larger impact of letting them fail. If I recall correctly they are asking for $25,000,000,000 to keep a float.

Should the auto industry own some of thier current financial difficulty?

Is the economy the only reason they are in the situation they are?

How about the $25,000,000,000 goes to creating new jobs, training, etc for the auto industry's work force that could be laid off instead of the big 3 getting this cash infusion.


If some of my facts are correct speak up. Let me know your thoughts on this. No doubt this stuff is on all our minds.

Take care,

Jason

That is a very serious issue really and with the magnitude of money required,it's going to be a not so easy upcoming months for the auto industry.However,they should also own a part of the responsibility,all these years they have been raking profits at their will,now it's their turn to bear the brunt a little.All this is happening due to the uncontrolled economical growth we witnessed.

[buffalo]

I think they would be better off in the long run to give a $5000 rebate for anyone that buys a new car.