2008-12-15, 05:41 AM
The first bailout was a complete waste, basically, its like this scenario:
-Credit Companies to Government "OMG! Theres a fire!!! Quick, give us something to put it out!!!"
Government to Credit Companies "Well, we cant really give you water... Here!!! Take this money! You put enough on it, it should smother out the fire!!! But you have to pay us back when the fires out"
Credit Companies to Government 10 years later "We need a few more years to pay back the money you gave us for that fire... hold on a sec, gotta take this call...'Yes yes, make sure theres lots of wine and gifts in my room...yes yes, all the employees will be golfing...it'll cost $200,000 for the company trip?... OK thats fine, just use the spare money from the...ahm, i mean use the "stock"money we have'...Anyways, yea, a few more years to pay it back, we swear."
Now the auto companies are a bit of a different story, but they still backed themselves into the shitter. Their cars havnt always been the best that they could be, and the costs and value were way below other companies from other countries (mainly Japanese). But there are far worse consequences if the auto industry fell.
~FUN FACTS!!~
Just after the 700 Billion dollar bailout, more than 50% of US Americans were not opposed to kicking all members of Congress out and re-picking new members.
The average wage (pay+value of health coverage, etc) of American auto workers was around $75+ dollars an hour, while the domestic (within the US) makers of Japanese cars make around 35+ dollars an hour. While it may seem that that is good, both the quality and the profit margins for the cars were far better with the Japanese cars than the American cars dragged and mainly made profits on large SUVs and Trucks (whose sales were tanked due to very high gas prices).
TWINKIES!!!!!!
Most politicians run on false promises to the people who elect them, often fulfilling one or two of the main issues they set out on while campaigning, but then focusing on personal agendas to further better their life in office (<<half truth/half personal opinion).
DEAD BABY JOKES!!!!!!
California has a committee in which most politicians are recommended to once their term in the state senate is up, in which they pull in over $100,000 dollars a year, while having no responsibilities and only have meetings around once or twice a year. The name of said committee is the "Garbage Waste Disposal Committee".
Laymens Terms: Credit bailout was full of FAIL, auto bail out is full of WIN...IF they pull their act together, which will be tough, because the unions are a major factor to the low profits margins (I call unions "Legal Racketeering")
-Credit Companies to Government "OMG! Theres a fire!!! Quick, give us something to put it out!!!"
Government to Credit Companies "Well, we cant really give you water... Here!!! Take this money! You put enough on it, it should smother out the fire!!! But you have to pay us back when the fires out"
Credit Companies to Government 10 years later "We need a few more years to pay back the money you gave us for that fire... hold on a sec, gotta take this call...'Yes yes, make sure theres lots of wine and gifts in my room...yes yes, all the employees will be golfing...it'll cost $200,000 for the company trip?... OK thats fine, just use the spare money from the...ahm, i mean use the "stock"money we have'...Anyways, yea, a few more years to pay it back, we swear."
Now the auto companies are a bit of a different story, but they still backed themselves into the shitter. Their cars havnt always been the best that they could be, and the costs and value were way below other companies from other countries (mainly Japanese). But there are far worse consequences if the auto industry fell.
~FUN FACTS!!~
Just after the 700 Billion dollar bailout, more than 50% of US Americans were not opposed to kicking all members of Congress out and re-picking new members.
The average wage (pay+value of health coverage, etc) of American auto workers was around $75+ dollars an hour, while the domestic (within the US) makers of Japanese cars make around 35+ dollars an hour. While it may seem that that is good, both the quality and the profit margins for the cars were far better with the Japanese cars than the American cars dragged and mainly made profits on large SUVs and Trucks (whose sales were tanked due to very high gas prices).
TWINKIES!!!!!!
Most politicians run on false promises to the people who elect them, often fulfilling one or two of the main issues they set out on while campaigning, but then focusing on personal agendas to further better their life in office (<<half truth/half personal opinion).
DEAD BABY JOKES!!!!!!
California has a committee in which most politicians are recommended to once their term in the state senate is up, in which they pull in over $100,000 dollars a year, while having no responsibilities and only have meetings around once or twice a year. The name of said committee is the "Garbage Waste Disposal Committee".
Laymens Terms: Credit bailout was full of FAIL, auto bail out is full of WIN...IF they pull their act together, which will be tough, because the unions are a major factor to the low profits margins (I call unions "Legal Racketeering")