As the wife of a Saturn dealership owner I resent that remark. You can’t punish everyone just because the UAW is involved. If AIG got a bailout why is it not fair for GM?
And by the way I was against the first bailout.
They are not getting the idea that this loan is from Treasury Department’s Troubled Asset Relief Program. The 700B dollar bailout given before.
Two differences, this COULD be paid back unlike the AIG or bank money
And if Bush didn’t do this, Obama surely would have bailed them out with new money from our pockets.
Great! So you're against bail outs that don't help you but for bail outs that do. On that basis you can resent my refusal to even consider Detroit iron all you want. But, as long as the cost of those cars includes a hefty amount for retiree benefits and above market wages, even if the car has the same price, the other companies can put better components in the car. Costs have to be in the total price somewhere. I want the money I pay for a car to be in the car, not in UAW perks and benefits. If you were concerned about the quality/value ratio of the cars you sell, you wouldn't sell anything related to Detroit.
Precious few of us are objective when it comes to our own interests, tuffie1, and I am consistent in having been against the Goldman, er, make that the AIG, bailout, the other finance bailouts and, most of all, the auto dinosaur bailout.
But I don’t think anyone would argue that AIG ‘deserved’ its bailout, only that it was too critical a pin in our financial system to be pulled out at that time. And, a couple of long-propped up, union-ruined manufacturers aren’t so critical to the core functioning of our whole economy.