Get it over with or spread it out?

[chloe0724]

I wanted to put it out there to see what the overall feeling was.

I am getting tired of what seems to be the neverednign bail out of large companies and not the people.

I whish we had never started bailing anyone out. It feels like a band-aid that you are slowly peeling off instead of just a fast rip.

I feel like if we just let all the bad stuff shake out now (and I know it will be really bad) that we will recover quicker.

What do you think?

[fltoo]

Fiscally conservative, yea, yea, I am against all bail outs, but...

Hoping that the AIG bailout gives a return on our money, since that and the Wall St. bailout was probably necessary.

Bailing out the auto companies, consumer mortgages and credit cards, no.

[jeb]

The problem is that the Feds let these companies get so big that, because of the number of jobs they affect or the total meltdown of lending in the world, we can't let them fail.

Have you even heard the term, "anti-trust" used in the last 8 years of "capitalist government"?

In the past, the Feds have actually broken up companies because they were too big or had too much control over an industry but not in years now - just turn them loose and clean up the mess later - at taxpayers expense.

I have absolutely no love of the US auto industry - GM, back when the Feds enforced the MPG requirements, had what was reported to be a great little ele car. But when the Feds made it clear that they were not going to enforce the rules on MPG, GM not only stopped the project but crushed the cars - over the loud objections of those that were the test bed of drivers. Now we must look to out of the country to find research on fuel efficient cars.

But the number of jobs lost if the big 3 - not so big any more - go under after it trickles down is in the millions. And when they stop buying, others lose jobs and so on. (Isn't it interesting how fast bad things trickle down but how good things never seem to get there - I am still waiting for Mr Reagan's economic dollars to trickle down to me.

We have to bail them out but I would like to see us OWN a piece of the company for doing so and with the replacement of top management with no payments on leaving - but don't hold your breath. - jb

[ssdsco]

Need to include the Lions in the auto industry bail out.

[fltoo]

Hehe. Gooooo Bucs. All our men were in the club house, the wusses. Only daughter and I toughed it out in the rain.

[GreenInkOnPaper]

I think having the government bailout/buyout corps is scary,scary,scary! They use to call the government owning private companies fascism.

[chloe0724]

No one really answered my question. Drag it out or get it over with faster?

[Genenco]

Frankly, there's a good reason to let the big 3 croak. The "millions" of jobs lost, would be slow. There's major (And minor) aftermarkets which the companies supplying the big 3 will still (For a longtime to come) need to fill for replacement parts. So frankly, I say "Let them all die and elt the consumer sort them out"

Sure, we'll see "Tent cities" (Do a youtube search, not a pretty sight) spring up and then fade, sure people will be in dire straights, but in 3-5 years, this will all fade.

If I'm wrong, well, I guess there's always soup kitchen and "Living off the land" type of living (If you like living in a forest) that might make a big comeback

[Flamingo]

If anyone watched CNN last night, there was a discussion almost as to this same subject with pros and cons. One shocking element was that the current bailout that was done will cost each household $60,000 over its course.

[chloe0724]

Flamingo, I didn't see it. I will have to search for a replay of it. Wow60k a household.

I just don't understand why they don't make any comany having trouble do a chapter 11 and restucture. Have a Trustee sort through everything and ask questions to the CEO's and scurtinize their income and expenses.

This would still result in the loss of jobs, but atleast it would give the sutmakers a chance at survical. Foce them to make changes. Bailouts don't do this.