This is quite something to watch, especially for those of us with friends & family in the auto manufacturing business.
I am fundamentally against any government bailout for any business, however as stated in this thread they would be putting hundreds of thousands, if not millions of jobs in jeopardy if they do not do the bailout loan. It is amazing they can't get a 15B loan when the fat cats in banking get 750B payouts for being terrible managers. I am wondering if I can triple my salary & bankrupt my company. Will the government bail me out because of my bad management?
This is especially sad when you see - in both Canada and the US - this bailout controversy is being used as a playing card in a political poker game between parties. Just goes to show how we are all pawns.
Final food for thought:
A few years ago the government said they didn't have any money for environmental concerns. How far ahead do you think we would be now if we spent just a small fraction of the big bailout money on research for recycling, alternative energy and sustainable resources?
We might even be creating jobs and leading the world...
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