So the good old democrats heard the cry of yet another industry that dug their own hole with over spending and poor business practices and is bailing out businesses. Correct me if I am misunderstanding how the government is supposed to work fundamentally, but it is not to endorse poor business practices by handing out money to any industry that is falling on hard times in a slow economy. Perhaps if the people in the high administration of the company earned their top dollars through running an effective company they would have their own money to give bonuses.
Sure the government is giving them a loan. I get it. But at the same time they are securing it through the ownership of stock interest. Ethically speaking I have a hard time with the government owning the largest mortgage lending institutions in the land who own the mortgage notes on half of the country. Now they want to own the auto industry. Outside of maybe computers, homes and cars are the two most influential, revenue generating industries in this nation. The government plans to own controlling portions of these industries. With a socialist friendly president looking to nationalize health care, we are moving closer and closer to what Great Brittan was when we revolted against the country back in the late 1700's.
To paraphrase Forrest Gump: 'I am not a smart man Jenny, but I know what communism is when I see it.' What message are we sending to the world? You are only important to the government if you are a company and have lots of money? I repeat what I have written in other blogs, the United States is a government for the people, not causes, not businesses, for the people. The argument that saving the auto industry is in the best interest of the people is not complete. It is in the interest of a select few. The autoworkers unions, and the corporations that employ them. That doesn't even make up one hundreth of a percent of our population yet we are spending 15 billion of the nations taxes fixing their poor practices. What would happen if the automakers had to close their doors? Well perhaps that makes way for other car makers, who make good cars, and sell them at reasonable prices to compete? If the goverment bails out the "BIG 3" the goverment is endorsing certain companies and giving them special favors that are not afforded to all companies. This type of favoritism is exactly what got Gov. Rod Blagojevich of Illinois arrested. Can we not arrest the whole congress? They are making illegal actions with the power that was entrusted to them. Did Nixon not teach us anything as a people? Letting our leaders off the hook helps no one but the leader.