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Bailing out the auto industry...

Does anyone else see that this bailout was not only wrong, now you have people coming with their hands out? The auto industry big 3 CEO's showed up in private jets......PRIVATE JETS......they come to Washington begging for money to bail them out of their failures and how badly they ran these companies, in private jets! How is it plausible to reward their failures?? Isn't it arrogant? Without appologies or humbleness....just give me give me give me and WE AMERICAN TAXPAYERS will pay! How can this even be right?


Asked by blessed5x at 1:12 PM on Nov. 19, 2008 in Politics & Current Events

Level 2 (4 Credits)
This question is closed.
Answers (45)
  • Actually, they won't GO BANKRUPT.. What happens is that they file for Chapter 11 Protection and ask the Government to step in and oversee and overhaul their operations and gurantee their vendors get paid and operations can be saved. WHICH IS EXACTLY WHAT NEEDS TO HAPPEN (in my opinion)

    A Bail out, on the other hand has less restrictions and allows (for example) the Execs to save their bonuses, salary, etc. It has less oversight and gives them more opportunity to recieve a "blank check" essentially.

    So, call you elected officials and STOP THE democRATS from giving blank checks of OUR money!

    Answer by grlygrlz2 at 2:00 PM on Nov. 19, 2008

  • This great old OBAMA SOCIALISM HAS BEGUN!!!! Where does it stop? When? Dumb ass people who voted for Obama and the Democratic Congress..........MORE than arrogant!!

    Answer by Anonymous at 1:13 PM on Nov. 19, 2008

  • It's not right, but that's how special interests work.

    Answer by QuinnMae at 1:13 PM on Nov. 19, 2008

  • this was goin on before obama was voted in sorry to say. my husband is in the auto business and no it is not right like they said on the news this morning they need to try to make some changes within the industry before they start asking for billions of dollars in hand outs

    Answer by Anonymous at 1:17 PM on Nov. 19, 2008

  • Ya lets just bail everyone out!!!!! why not??? we are rich!!!!! HA HA I wish they could bail me out!!! I 'm not even that far behind! but why not everyone else is... This whole bail out thing basically they got of scott free!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Where is the accountability??? There is none!!

    Answer by NewArmyMom2008 at 1:17 PM on Nov. 19, 2008

  • Yeah, going to beg for money arriving in a private jet is like going to the local welfare office and seeing them pull up in brand new cars!!!!

    Answer by Anonymous at 1:17 PM on Nov. 19, 2008

  • They need to go bankrupt, yes a lot of people will lose jobs-but in the end we'll be better for it! And come out of this stronger! The Unions that are running the Auto Industries have run this into the ground..... They are not for the average workers-they are only out for themselves.......

    Answer by MR777 at 1:18 PM on Nov. 19, 2008

  • so go bankrupt and have everyone in the auto business that has nothing to do with this lose their jobs and be able to not support their families i can see how that would help not. apparently your husband doesnt work for that industry

    Answer by Anonymous at 1:37 PM on Nov. 19, 2008

  • You know, the British government bailed out British Leyland in the 70's. Never heard of Leyland? They made Triumphs. Never heard of that either? Guess what - the bailout didn't work. Surprise, surprise. I think they dumped $17 million into the company, which piddled it away through mismanagement over the next decade until they finally went out of business.

    Answer by kaycee14 at 1:37 PM on Nov. 19, 2008

  • Anon 12:37, do you understand how bankruptcy works? There is a phase where they are to restructure their business to bring them out of bankruptcy. If the Big3 don't change they way they operate, they will fail no matter the size of any bailout. They must restructure to make their companies stronger and more competitive. Will people still lose their jobs? Yes. Is this the only chance for them to come back out of such a negative place. Yes. People will find other jobs. They were looking for one when they found the one they are in currently. They will find another. It's not the government's job to take care of us all. That's OUR job.


    Answer by QuinnMae at 1:52 PM on Nov. 19, 2008