http://washingtonindependent.com/19280/25-billion-for-automakers-would-be-the-tip-of-the-iceberg National News in Context Sun, 04 Mar 2012 13:30:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://washingtonindependent.com/19280/25-billion-for-automakers-would-be-the-tip-of-the-iceberg/comment-page-1#comment-38003 Hilary Smith Fri, 21 Nov 2008 09:54:02 +0000 http://washingtonindependent.com/?p=19280#comment-38003 So long as the rich are winning, it isn't class warfare. So long as the rich are winning, it isn't class warfare.

]]> http://washingtonindependent.com/19280/25-billion-for-automakers-would-be-the-tip-of-the-iceberg/comment-page-1#comment-12515 Hilary Smith Fri, 21 Nov 2008 01:54:02 +0000 http://washingtonindependent.com/?p=19280#comment-12515 So long as the rich are winning, it isn't class warfare. So long as the rich are winning, it isn't class warfare.

]]> http://washingtonindependent.com/19280/25-billion-for-automakers-would-be-the-tip-of-the-iceberg/comment-page-1#comment-12389 k Wed, 19 Nov 2008 16:51:41 +0000 http://washingtonindependent.com/?p=19280#comment-12389 "...we’ll be running a longer piece detailing the reasons that the bailout option might prove far less costly for taxpayers than allowing the companies to go under..." - Will the calculation include the cost to American taxpayers of further encouraging "moral hazard" by rewarding incompetent management and unproductive workers who retire with a generous pension for life, while the rest of us look at the dwindling value of our 401(k)s and our increasing tax bite...? “…we’ll be running a longer piece detailing the reasons that the bailout option might prove far less costly for taxpayers than allowing the companies to go under…” – Will the calculation include the cost to American taxpayers of further encouraging “moral hazard” by rewarding incompetent management and unproductive workers who retire with a generous pension for life, while the rest of us look at the dwindling value of our 401(k)s and our increasing tax bite…?

]]> http://washingtonindependent.com/19280/25-billion-for-automakers-would-be-the-tip-of-the-iceberg/comment-page-1#comment-12382 Bill Wed, 19 Nov 2008 15:25:20 +0000 http://washingtonindependent.com/?p=19280#comment-12382 I'm in the Auto Industry and I can tell you that if these companies go under pensions won't be paid, people will lose their jobs, and the confidence in this countries economy will falter even more causing some catastophic results. I think the real people to blame here are ourselves for continuing to purchase vehicles which quite frankly we cannot afford. I made the mistake of purchasing a new car and I've done the math. I will never be able to break even unless i have the car for 6 years or more. Our economy is based on people buying a new car every 2-3 years and rolling over bad debt into a new loan. It's like a house of cards and it's finally going to come down unless we the taxpayer bail out the very industry that is synonimous with ripping people off. I think the Secretary of the Treasury looks at this CEO and he sees a sleazy used car salesman in an expensive suit begging for money so he can continue to sell cars that people don't need and continue to plunge average citizens into the American Dream....living beyond your means. The next thing thats gonna happen is the credit card industry is going to fold. Mark my words. I'm in the Auto Industry and I can tell you that if these companies go under pensions won't be paid, people will lose their jobs, and the confidence in this countries economy will falter even more causing some catastophic results. I think the real people to blame here are ourselves for continuing to purchase vehicles which quite frankly we cannot afford. I made the mistake of purchasing a new car and I've done the math. I will never be able to break even unless i have the car for 6 years or more. Our economy is based on people buying a new car every 2-3 years and rolling over bad debt into a new loan. It's like a house of cards and it's finally going to come down unless we the taxpayer bail out the very industry that is synonimous with ripping people off. I think the Secretary of the Treasury looks at this CEO and he sees a sleazy used car salesman in an expensive suit begging for money so he can continue to sell cars that people don't need and continue to plunge average citizens into the American Dream….living beyond your means. The next thing thats gonna happen is the credit card industry is going to fold. Mark my words.

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