The Cellar - View Single Post - Why is it OK to bailout Citi, but not auto companies?

sugarpop · 11-25-2008, 09:57 PM

tw, sounds like you have a real grasp of what is going on.

I was against bailing out the banks, and I was especially against bailing out AIG. It isn't capitalism if we bail them out when they do stupid things that make the company fail. It's socialist corporatism. If we're going to have socialsim, it should benefit all the people, not just the wealthy or corporations. and what REALLY pisses me off, is they aren't getting rid of the people who caused this mess in the first place, and they are still getting their multi-million (billion?) $$$ salaries. I am reeeeeally hoping that when this is over, those ridiculous salaries will dissapear. It's obscene, how much some executives make.

I think we should bail out the auto companies, there are too many jobs at stake, but we should only do it IF they get rid of the executives and BODs who killed the electric car and decided instead to build bigger and heavier trucks and SUVs that got less gas milage, and IF they start making electric cars again. They have fought regulations on trucks and SUVs for years. GM actually made an electric car in the 90s that people loved. They leased them out, and when the leases were up, instead of selling them to the people who wanted to buy them, they confiscated them and CRUSHED THEM. Now why would they do that? They could have led the green revolution with cars, but they WILLFULLY chose not to. So those yahoos need to go. Period.

and you know what really slays me? When we're talking about universal health care, it's too expensive. the money isn't there. but now we have all these billions (trillions?) to bail out Wall Street and corporate pirates? Why do we have money for corporations, but not for people?

So we gave them the money, but it isn't being used for the purpose for which it was intended, which was to stop foreclosures and the domino effect they were causing. I thought they should've just given the money to us, the people, then everyone could've used it to pay their mortgages, or for whatever. Seems to me like it might have worked better to do it that way, because what they're doing certainly isn't working.

Now, it is a never-ending cycle. Everyone has their hand out. And meanwhile, people are still losing their homes, and their jobs, and their benefits, and their investments. IMO, the people who caused this mess should go to prison, AND they should lose all their precious money, because they knew what they were doing. I want to know why they didn't try to stop it sooner.

11-25-2008, 09:57 PM	#12
sugarpop Professor Join Date: Nov 2008 Location: the edge of the abyss Posts: 1,947	tw, sounds like you have a real grasp of what is going on. I was against bailing out the banks, and I was especially against bailing out AIG. It isn't capitalism if we bail them out when they do stupid things that make the company fail. It's socialist corporatism. If we're going to have socialsim, it should benefit all the people, not just the wealthy or corporations. and what REALLY pisses me off, is they aren't getting rid of the people who caused this mess in the first place, and they are still getting their multi-million (billion?) $$$ salaries. I am reeeeeally hoping that when this is over, those ridiculous salaries will dissapear. It's obscene, how much some executives make. I think we should bail out the auto companies, there are too many jobs at stake, but we should only do it IF they get rid of the executives and BODs who killed the electric car and decided instead to build bigger and heavier trucks and SUVs that got less gas milage, and IF they start making electric cars again. They have fought regulations on trucks and SUVs for years. GM actually made an electric car in the 90s that people loved. They leased them out, and when the leases were up, instead of selling them to the people who wanted to buy them, they confiscated them and CRUSHED THEM. Now why would they do that? They could have led the green revolution with cars, but they WILLFULLY chose not to. So those yahoos need to go. Period. and you know what really slays me? When we're talking about universal health care, it's too expensive. the money isn't there. but now we have all these billions (trillions?) to bail out Wall Street and corporate pirates? Why do we have money for corporations, but not for people? So we gave them the money, but it isn't being used for the purpose for which it was intended, which was to stop foreclosures and the domino effect they were causing. I thought they should've just given the money to us, the people, then everyone could've used it to pay their mortgages, or for whatever. Seems to me like it might have worked better to do it that way, because what they're doing certainly isn't working. Now, it is a never-ending cycle. Everyone has their hand out. And meanwhile, people are still losing their homes, and their jobs, and their benefits, and their investments. IMO, the people who caused this mess should go to prison, AND they should lose all their precious money, because they knew what they were doing. I want to know why they didn't try to stop it sooner.