Bailout Bunk: We've Been Had

Newsmax ^ | Nov. 12, 2008 | Edward I. Koch

[decimon]

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Those companies should be permitted to declare bankruptcy so that someone in the private sector can buy them at a discount, if they are worth purchasing.

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Why not let them be bought by others in bankruptcy? There are those who say we are bailing out companies in order to prevent massive layoffs. In my view, those layoffs will come sooner or later anyhow because those companies are run by incompetents and no longer able to compete, while foreign companies like Toyota, manufacturing their cars in the U.S., are selling them and not seeking to be bailed out.

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[decimon]

Okay, so how many of you are now to the left of Ed Koch?

[Rummyfan]

I agree with former Mayor Koch here:

Plans should be made to bring to Washington hundreds of thousands, if not millions, of Americans? We should carry pitchforks to scare the hell out of government, particularly the newly-elected members of Congress as well as all of those re-elected recently, for failing us so miserably.

[sickoflibs]

RE :”those layoffs will come sooner or later anyhow because those companies are run by incompetents and no longer able to compete, “

This is true in capitalism, but the Pelosi/Obama plan with help from GWB/McCain this year, is to have the industries owned and controlled by government. My guess is that the removing tax cuts for those that export jobs means it high tariffs to force you to buy these government products.

[Thermalseeker]

What I can’t figure out is why so many people are surprised by the switch Paulson announced. There are so damned many examples of the gubmint saying one thing and doing another it’s ridiculous. This was so utterly predictable. The American people keep smacking themselves in the head with a hammer, realizing it hurts, then do it it again to see if it will hurt the next time. What it is going to take to break this cycle is beyond me....

[decimon]

Koch is one of those to blindside you if you think he’s on your side or some other. When he was mayor for a while he said he regretted much of the legislation he voted for when in Congress.

[old curmudgeon]

I agree with 90% of the article, but I gag again at the label incompetence being applied to the auto manufacturers.

I have a new Ford F350 pickup, the best most enjoyable vehicle I have ever owned and we have owned Mercedes (three of them), a Lincoln, Pontiacs, an endless number of Ford pickup trucks, Mercury's, etc.

What is the matter with my new Ford Truck? Nothing except that it listed for $55,000 plus. It is loaded with all kinds of anti pollution sensors, a regenerating exhaust, and the biggest load of all, not optional, is the union and its excessive demands on the company, both financial and labor practices.

All of which were forced on Ford by the same congress that now accuses the management of being incompetent.

[decimon]

What I can’t figure out is why so many people are surprised by the switch Paulson announced.

You are being awfully picky over a mere trillion dollars. Capitol Hill is the end of the rainbow where gold just falls from trees.

[decimon]

I agree with 90% of the article, but I gag again at the label incompetence being applied to the auto manufacturers.

I think the incompetence is in having had forty years to come up with economical automobiles for the buying public to crave. Yeah, they do have some good ones now but now people don't trust US autos as much as they do others.

[Thermalseeker]

Capitol Hill is the end of the rainbow where gold just falls from trees.

Pay no attention to the man behind the curtain......

[Tennessee Nana]

Bailout Bunk: We’ve Been Had
_______________________________________

No, we aint...

We knew all the time to say

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

[rvoitier]

Plans should be made to bring to Washington hundreds of thousands, if not millions, of Americans? We should carry pitchforks to scare the hell out of government, particularly the newly-elected members of Congress as well as all of those re-elected recently, for failing us so miserably.

That was the vision I've had in my mind for weeks now.

[ari-freedom]

they are perfectly capable of producing cars that sell well in Europe. That’s what drive me crazy. You know they have the potential to succeed but they are hamstrung by our unions and regulations

[henkster]

The automaker incompetence is in their negotiations with labor. Go look at the demographic coming out of a Ford or GM plant at closing time. Ask yourself if you’d like to cover the health care for them. The whole idea of “free” health care as an entitlement is bankrupting us.

[fortunecookie]

LOL, Koch makes some interesting points.

[Grampa Dave]

In 2006 some not very wise so called republicans/conservatives* suffering from severe BDS, decided that we needed to "teach the country a lesson" by handing power over to the Dem/Commies.

They assured us, that the resulting shambles would bring about the next great conservative revolution.

We got the shambles all right, but somehow, no one seems to make the connection as to who got us here.

If those brilliant peoples* were right, the Dems should be cowering in hidey-holes like Sadaam for fear of the public's retribution.

Instead, they are poised to destroy America once and for all.

Nancy to Barney and Harry, "As long as we control the mediots and so called conservatives*, who suffer from BDS and blame Bush for everything. We, the elite/rich/white liberal criminals in Congress will have no problem destroying America. Just remember everything is Bush's fault! Heh! Heh!"

*The same mentally ill idiots filled with same BDS, cheered Sarah and John’s loss to really teach America a lesson.

[CanaGuy]

Big problem. Who do you bail out? Why it’s easy, when you think about it. You bail out those who foster the agenda. Never-the-less, “Planning” in the socialist state is at the heart of what is wrong with it.

[sickoflibs]

RE All of which were forced on Ford by the same congress that now accuses the management of being incompetent.

YES, forced on by same democrats that want to take it over. In NYC the libs made health insurance socialized it costs a fortune and young healthy people wont buy it (you can buy it AFTER you get sick.) So now that they broke it their voters went for Obama to solve it by a government run program paid for by the rich.

Do you remember GWB giving economics lessons on this? NO because he was too damaged by his big government record.

[pgyanke]

In 2006 some not very wise so called republicans/conservatives* suffering from severe BDS, decided that we needed to "teach the country a lesson" by handing power over to the Dem/Commies.

Your memory is flawed. In 2006, the GOP lost because it had behaved like Democrats when they had the full reins of government. People were tired of voting GOP and seeing no difference. They were tired of the refrain "vote for us because they are the alternative"... they wanted someone to vote FOR.

Then the GOP turned right around and repeated this mistake in 2008 by pushing moderates and RINOs to the forefront and marginalizing the more conservative alternatives.

The fault is with the party, not the people.

[truthluva]

They should have listened to the people! We told them not to do this!

[decimon]

Big problem. Who do you bail out?

Me. Other than that, I'm as clueless as a D.C. economist.