Well, it looks like we’re going to see the bailout of the big three auto makers. Only this time we’re going to do it “right.” Right, of course means we’ll have the government take an equity position in the businesses and have a “car czar” who will disburse your funds. Now — remind me — what is it called when the government steps in and takes ownership of part or all of private businesses? Oh yeah, socialism.
But don’t you worry. It’s all going to be work just fine when we get a “better administration and a better congress.” Those are not my words, those are the words of Brad Sherman, D – California, as reported by MSN. In fact, here’s his whole quote, so you don’t think I’m taking him out of context.
With the House apparently set to vote on the auto industry rescue plan Wednesday night, here’s how Rep. Brad Sherman, D-Calif., a vehement critic who voted against the $700 Troubled Asset Relief Program (TARP), but a supporter of the car industry loan, explained his switch: “This is a better bill with a better purpose with better controls. This is a chance to preserve the automobile industry until we get a better administration and a better Congress.”
A better administration and a better congress to do what?!?!?!? What exactly are they better at? Running businesses? Is that why we elected them? Because they are better at running businesses than those no-accounts we had before? Is the government better at running businesses than business people are? Apparently. Of course when I look at what a fine job they’ve done running the government over the last 200 years, I have to say I’m not convinced.
Not only that, why the big three? What about all those businesses in your town that have failed because of the downturn in the economy? I guess they just weren’t as important as the big three. In case you can’t tell, I’m deeply offended at the bailout. Between the union’s horrendous demands, and poor planning by management, the companies are on the ropes. If they would let them go bankrupt, they could get some relief from the ridiculously rich demands the union has hamstrung them with. But with this, they just go on into the future building cars that absolutely can’t compete in terms of quality at a price that is several thousand dollars more than they’re worth (and more than the higher-quality competition.)
I see businesses every day that are failing that could really benefit from being bailed out — businesses that are on the ropes due to no fault of their own. But we don’t give them a second look. No, we’re too busy bailing out those who are where they are due to their own mis-management.
At the end of the day, congratulations. You’re soon to be part owner in a failing business (make that three failing businesses.) I thought you had higher aspirations than that?
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