Why is it OK to bail out banks but not auto makers?

Bush: What’s 3 Million Jobs Compared to 70 Billion Wall Street Bonuses?

Shorter Paulson, "700 billion to make sure my Wall Street buddies could pay 70 billion in bonuses was ok. 25 billion to save 3 million jobs, forget it."

  • SHARE THIS QUESTION:
Anonymous

Asked by Anonymous at 2:54 AM on Nov. 20, 2008 in

This question is closed and filed in the CafeMom Encyclopedia.
Answers (17)
  • op you could have gotten better sources. however I think we should not be bailing out anyone unless we get to put many conditions to do so. as far as wall street and not the auto industry I think if one gets it then the other should. the money has already being set aside for the bailout so it's not like is a total different bailout. the auto industry wants to be elegible for some money from what is currently set aside for wall street. well split it. I think before any company gets any money the executives have to sell their private jets and take pay cuts and shrink their entertainment budget. then apply for aid. I bet you they would need alot less to get out of this mess.
    ny.chica

    Answer by ny.chica at 8:26 AM on Nov. 20, 2008

    Credits: 0 Level 1
    Votes up:0 Votes down:0
  • Because wall street gives money to the polititions more often to further agendas
    Anonymous

    Answer by Anonymous at 2:57 AM on Nov. 20, 2008

    Votes up:0 Votes down:0
  • because this country is screwed up big time
    iloveyall2008

    Answer by iloveyall2008 at 3:37 AM on Nov. 20, 2008

    Credits: 3 Level 1
    Votes up:0 Votes down:0
  • Neither is okay. Wall Street should not have been bailed out and the car industry definitely should not be bailed out. You make shitty cars, you go out of business. If we want a free market, that's the way it has to be. Those companies have been terribly managed and refused to listen to what the consumers were asking for.

    And before anyone mentions job losses, that's a huge misconception. These companies will be bought out by foreign companies who will continue as they do now to make assemble cars in the US. They happen to pay better as well.
    CluelessCarrie

    Answer by CluelessCarrie at 3:46 AM on Nov. 20, 2008

    Credits: 39 Level 4
    Votes up:0 Votes down:0
  • actually
    "U.S. auto companies employ nearly a quarter-million workers, and more than 730,000 other people have jobs producing the materials and parts that go into cars. About 1 million on top of that work in dealerships nationwide. If just one of the auto giants were to go belly up, some estimates put U.S. job losses next year as high as 2.5 million."
    Anonymous

    Answer by Anonymous at 3:53 AM on Nov. 20, 2008

    Votes up:0 Votes down:0
  • Source?
    CluelessCarrie

    Answer by CluelessCarrie at 4:04 AM on Nov. 20, 2008

    Credits: 39 Level 4
    Votes up:0 Votes down:0
  • It just sounds like a pundit quote. That's all.
    CluelessCarrie

    Answer by CluelessCarrie at 4:05 AM on Nov. 20, 2008

    Credits: 39 Level 4
    Votes up:0 Votes down:0
  • No wonder you posted ANON... You are trying to stir the pot with FALSE "quotes"

    Neither is fine. The Bailout money was voted on for financial institutions and to help free up the credit market.

    Now cities, states, and corporations want aid. When is it going to stop? I bet you, that in one year the 700 billion bailout won't be enough and we will need a more!
    700 billiob SHOULD be enough if it is well organized.

    Now, get your self an education and post some links with your fabricated crap.
    myame

    Answer by myame at 7:15 AM on Nov. 20, 2008

    Credits: 1313 Level 13
    Votes up:0 Votes down:0
  • ROFL... http://firedoglake.com/author/28/


     The OP POSTED A BLOG from a Blogger WHO lives in his moms basement afraid of the real evil world also writes for HUFFINGTON. Thanks for the Credible Laugh.  Sure hope you aren't looking to this guy as your spirtual and current events leader.

    Anonymous

    Answer by Anonymous at 7:25 AM on Nov. 20, 2008

    Votes up:0 Votes down:0
  • I do not think any of the bailouts are a good idea. The people are the ones that need help. The banking industry is not going to help most of us because we have ruined our credit because of these difficult times. We can't buy cars, or have nice vacations. Most of us worry about the next loaf of bread and how to pay for it. The auto industry could start helping themselves by cutting down on their own expenditures. Such as each one of them has a fleet of private jets. Not just one----a fleet. Take away their fat bonuses and their company cars. Many folks don't like the unions but without them we would not have fair wages, benefits, healthcare. Many non-union companies offer these things because of the unions. Unions are one reason that women have better wages and maternity leave and such.
    foreverb3

    Answer by foreverb3 at 8:28 AM on Nov. 20, 2008

    Credits: 2221 Level 15
    Votes up:0 Votes down:0