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In response to "Dubya is willing to consider using funds from other sources to provide emergency aid to the nation's Big Three car companies. -- (link)" by Don Homer

Ok, I have a dumb question about this whole deal. I'm trying to figure out how a $700 bil bailout of the banks who've proven

Posted by Jim (aka Jim) Dec 12 '08, 06:47

time and again that they have no idea what the fuck they're doing...was ok and necessary.

But $14bil to the auto makers is irresponsible and a waste of money.

What am I missing here?

Responses:

Everyone needs banks - people that need financing for home and car loans, entrepreneurs who want to set up a business, existing businesses that want.. - Roger More Dec 12, 07:17
necessary to prevent large scale repercussions to the whole economy, I think. -- nm - loosilu Dec 12, 07:03 3
- oh, I see. Well, the bank bailout was seen as irresponsible and a waste of money as well, while it was being debated. -- nm - loosilu Dec 12, 07:04 2
  - PLUS... there is a widespread opinion that the automakers did it to themselves 100%, whereas blame for the mortgage crisis is spread around. -- nm - loosilu Dec 12, 07:05 1
    - yep - auto companies have had their problems for 20 years. and also, a lot of people seem to have had bad customer experiences with them, GM... - Roger More Dec 12, 07:21
I think a tad bit of it is backlash - from them dumping so much on other things - they have to show some restraint - Epiphany Dec 12, 06:59
Easy; the banks aren't run by unions who vote heavily democratic. - Will Hunting Dec 12, 06:54 17
- And would 4 people making minimum wage have the same economic impact in terms of consumer spending as the one making $50k? - znufrii Dec 12, 07:04 14
  - If the company is going broke for spending issues, and 1 person can do 100% of the work, getting that done for 25% of cost is a huge savings. - Will Hunting Dec 12, 07:06 9
    - I understand what you're saying completely, but your argument is missing the forest for the trees. - znufrii Dec 12, 07:09 5
      - I'm not even bothering with the wider economic issues here or I'd be mentioning the millions of suppliers who depend on Detroit for their jobs. - Will Hunting Dec 12, 07:12 4
        
        okay, so we kick the unions out, and cut everyone's pay by 2/3rds. - znufrii Dec 12, 07:19 3
        
        Maybe GM and them don't need 15billion every 2-3 months to remain in business. - Will Hunting Dec 12, 07:20 2
        
        so they can keep churning out trucks that nobody wants to buy? - znufrii Dec 12, 07:24 1
        
        obviously they have to change that as well. -- nm - loosilu Dec 12, 07:32
    - this is legit, IMO. -- nm - loosilu Dec 12, 07:07 2
      - I'm a fan of unions when they're not asininely stupid. - Will Hunting Dec 12, 07:08 1
        
        to clarify, I don't disagree with your point, I just don't think you're presenting a very compelling argument in favor of it. -- nm - znufrii Dec 12, 07:10
  - who is making minimum wage here? the bank workers or hte auto workers? -- nm - loosilu Dec 12, 07:04 3
    - Will's illustration of one janitor making $50k/year, when you could hire four people at minimum wage to do the same. -- nm - znufrii Dec 12, 07:05 2
      - sorry, too early for me. ;) -- nm - loosilu Dec 12, 07:06
      - all because of the evil unions, you see... -- nm - znufrii Dec 12, 07:06
- You are 100% correct...this trouble with deal is all about the unions...I'm willing to bet, no matter what they gave up, it wouldn't have mattered - The Calico Cat Coalition Dec 12, 06:59 1
  - also... I think the general public has less to lose from GM going down than from losing their house. -- nm - loosilu Dec 12, 07:07

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Ok, I have a dumb question about this whole deal. I'm trying to figure out how a $700 bil bailout of the banks who've proven

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