"Congress will insist that any legislation include rigorous and ongoing oversight to guarantee that taxpayers are protected and that resources are directed to ensure the long term viability and competitiveness of the American auto industry."
So says Nancy Pelosi.
Since when has Congress become the experts on how the auto companies can be competitive?
What a nightmare. The Congress is going to tell the Big 3 how to make cars? Well, yes. They'll tell them how to make cars-- green cars, low mileage cars, and whatever other cars they think would be neat.
Do you know why the auto companies have been building lots of trucks and SUVs? Because those are the products that bring them the most profit!!! And that's what people were buying!!! In accusing the automakers of not having responded to consumer demands, of not being more environmentally conscious, etc. Congress is being unfair. They do not seem to realize that the purpose of making cars is to make money!!!
The problems of the auto industry are complex. I don't think Congress, in their arrogance, gets it.
So. That's my rant on Congress telling the auto makers how to run their businesses.
3 comments:
Have you ever read Atlas Shrugged... it has some very interesting views about government steping into private business.
Since it is taxpayer's money being used to fund the bailout it makes sense to me that the congress address the issue of protecting the taxpayer's investment in the auto industry. Would you prefer a blank check approach?
Mrs. Marcos, the notion of protecting the taxpayers' investment makes sense theoretically. The problem is that Congress has no idea how to run an auto company. I guess, yes, I would prefer a blank check approach or no bailout at all.
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