Who's destroying the industry?
Sen. Shelby Et Al are working pretty darn hard to do just this. We can also blame the Wall street and the government for their stupid trade policies and onerous regulations. We can also blame former CEO’s of the big three...for mismanagement. However, GM was well on its way to restructuring before the financial tsunami hit. I heard today that some analysts believe that Goldman may not survive. How many millions did we pump into this company? They leveraged an average of $40.00 per each dollar they took in...is this a ‘good business model’? Is this company viable? We need industry to pull us out of this whole just as industry did during WWII...they ended the depression. The bankers will never manage it on their own. This economy is too large for this discredited service/consumer model.
Of course now the financial elite are beginning to tell us it’s not this economy is at fault...that American will naturally decline- Liars, damn liar and Wall Street. They have brought this country down because of their reckless behavior.