lol, SAVED the Us automotive industry...by bailing out ONE COMPANY?
The only thing the obama SAVED was his UNION BACKERS JOBS at GM. but hey, you all go on believing HE SAVED THE AUTOMOTIVE INDUSTRY with one wave of his (taxpayers) MONEY MAGIC WAND.
GM was bankrupt.
In a recent quarter it posted a profit.
Obama did that.
But please, tell us specifically what he should have done instead of what he did do...be specific and tell us what he should have done.
Go ahead, I dare you.
Let them fix their own problems.
Like I said before, you can give me 40 billion and by the end of the day I will have made a profit. Where is my bail out?
Next you will tell me "free markets" have failed, and I'll be all like, didn't you just say Government bailed out companies?
It's not the Government or tax payers jobs to bail out people that can't run a company. In fact it goes against the absolute basic theory of positive evolution to do so. We are now stuck with a worse product, further in debt and no one was allowed to make positive changes and success of others failures meaning as a whole we would have moved forward.
Lesson not learned, problem not fixed and guess what, they are looking at another stimulus/bailout.
Well, all I can say is that if you looked closer at the details, the problems are being fixed.
The problem? The pensions GM is paying and a lot of other legacy companies are paying. Southwest Airlines didn't send their competitors into bankruptcy and out of business. Their operating costs did. SW is simply cheaper and some would say a better run company. I would imagine those that work there would disagree since their pay structure is so El Cheapo.
Those now working at GM will not have the same pension structure when they retire as their fore-runners did. The problem was fixed.
As for your "let them die" attitude; not practical and any economist worth their salt would tell you that. Still, I admire your allegiance to the free market system. Theres something to be said for what you're stating. Good post.