BAIL OUT...GM.....

GOOD MORNING FLINT!
11/16/08
By: Terry Bankert
http://attorneybankert.com/

1 in 10 jobs in USA tied to the Auto Mobile Industry. If GM fails, we will pick up the tab for pensions, health care and more. Its better to deal with this on the front side.
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COMMENTS OF GOVERNOR GRANDHOLM
http://money.cnn.com/video/#/video/news/2008/11/13/news.auto.111308.cnnmoney

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In Flint we have been at the beginning and are still a central participant as a city in the United States Automobile Industry. We feel the pain of industry adjustments before it impacts on the country. What is facing us now is not more economic pain but the end of an era or way of life for us, and you. The champions of private industry and unrestraint supply and demand paradigms now are hat in hand to congress asking to be bailed out. Much like our alcoholic uncle who goes to his family head for mortgage payments, utilities and food. Events over the next month could determine if that uncle General Motors lives or dies economically , along with millions of families tied to the Auto mobile Industry. He can be saved month to month with family money but the problem is long term , its alcoholism. With GM we must save it to save our selves. Here the underlying problem is a non competitive corporation in the north that had the snot beaten out of it by foreign named corporations overseas and in the Souther US. Its alcoholism is addiction to cheap fuel not a commitment to alternative energy." "This week, Congress will consider whether to cough up billions of dollars to bail out the troubled companies." Its your money, your country, and your economic life at stake. You should be interested and have an opinion. Do you?
ONE VIEW SAYS " GIVE THEM THE MONEY!"
Proponents of a bailout say that the industry is a victim of the global financial crisis. Wall Street has been bailed out, so why not Detroit?
The advocates of a bailout insist that the risk of failure is too great - that even the best case scenario for bankruptcy would be too great a shock to the struggling U.S. economy.
ONE VIEW SAYS " CAPITALISM ONLY WORKS WHEN INEFFICIENT COMPANIES FAIL WHILE EFFICIENT COMPANIES PROSPER, DO NOT GIVE THEM THE MONEY!"
"On the other side are those who feel just as strongly that the automakers' problems are their own doing, born of bad business decisions, uncompetitive labor agreements and vehicles that Americans have decided are second-rate. They say a bailout will only postpone the inevitable, and that the failure of one or more of the companies is necessary if the economy is to work properly."

The critics of federal help say a bailout would be throwing good money after bad - something the government can't afford to do after already promising close to a trillion dollars for other bailouts. Stay tuned.
MY VIEW: Bail out financial system and core industries. We did not do this in 1929 and suffered the great depression. In the long run this financial system and core industries must be forced to pay us back with Universal Health Care and Quality Public education. These core industries must be force to commit R&D to alternative energy and ween us from oil dependency. Congress must do a better job at protecting our economic borders from foreign monopolistic competition.
Posted here by
Terry Bankert
http://attorneybankert.com/
PS- look at Governors Grandholms Blog on "Blogging for Michgian".
My stuff looks so weak compared to hers I almost.....?

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