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Automakers. Why is a taxpayer bailout better then chapter 11?
Differences seem to be congress control of the automakers and preservation of pensions at the expense of the taxpayers.
What do you think?
1 Answer
- Anonymous1 decade agoFavorite Answer
the american and parts of the canadian economy was built on the automobile sector. yanks say their government is practcing a form of socialism by bailing out the big three.
the fact is that regardless of autoworkers and their pensions doesn't hold a candle to what will happen if the people fight the bailout. the american economy was built on cars... and weapons... but mostly cars.
the textile industry and many other such industries have been out-sourced to many countries. the speculators and frauds have largely been exposed on wall street (politicians??), but the jobs many are qualified for are gone.
autos support steel, oil, batteries and myriad other industries, many of which are still within domestic borders.
use your head and look at the job losses without the auto industry.
americans and, to an extent, canadians, deserve the problems created by this fraud. you need the auto bailout, we need the bailout.
left/right politics has no choice here. you'll be doing the telephone soliciting soon, as will we, if we don't stop producing and/or buying junk.
and face it, most north american cars don't even meet our own emission standards let alone safety standards.