Dec 12, 2008

Mr. President say what?

CNN Money is now reporting online that the President may use bailout money from the bank funds to help the auto industry. Now, let's back the boat up a minute here. We don't want the bailout. Remember what the polls are saying? Same polls that showed Americans wanted Obama to be President are now saying Americans don't want to bailout another failing industry. Okay, let's think about this for a moment here:

1. Big banks and business mismanage money, loans, trusts, and overall screw up the economy = They get a bailout that few people in the real world see any results from.

2. Big automakers may get some sort of bailout after all despite the fact they have mismanaged, overpaid, misused money, and basically lost to the competition of imports and used cars = They may get a bailout that few people in the real world want and once they get the bailout, few people in the real world have money to buy their cars.

Something is wrong with the picture above. I have written it several times in my blog here. The Republicans are right (at least with the exception of the President). Stop this bailout and focus on people. Give the American people a bailout and we will fix the economy. As for those companies that can't manage their money to make money, that's competition. Some win some don't. That's what they made "Going Out of Business" signs for.