November 12, 2008
.....................I would probably hold my nose and support a reasonable bail out with provisions. I would hold my nose because it would violate everything that I believe about our economic system and our system of government.
I would have to consider:
In all probability General Motors, Ford and Chrysler will never pay Federal Income Taxes in the future. If this is the case, why should the other automobile companies located in the South have their tax dollars used to build up the competition which in most people's minds was caused by their mismanagement of all types over decades.
While most of the attention of the current discussion has been directed at top management, even to the point of removing them, not one person with authority to settle the question has raised the point of the UAW. I repeat what I said above, why should successful manufacturers in the South bail out the UAW which many feel are a major cause of the current situation.
Also, can the Government/Congress run anything successfully? Can the Government run the auto industry while at the same time they are running the Banking/Financial sector?
Finally, when will it all end. If the Government owns the Banking Sector and now will soon own a major part of the Automotive Sector, isn't this early Socialism or worse early Fascism?