Define Irony:
Taxpayers being forced to bail out the wealthiest of the elite, in order to open up credit markets again. No credit is forthcoming to date. Jobs are disappearing at an alarming rate, and pay cuts
are causing further credit issues for consumers. Consumers cannot obtain the financing to
purchase a new vehicle, because they cannot obtain the credit. Many cannot obtain credit
because their mortgages are now more than what the value of their homes are, and the ARM's have caused them to be considered poor credit risks now. The irony: the US Government is now going to infuse the automotive industry with billions in the already overburdened very same uncreditworthy TAXPAYERS money.


Comments: 37
this is bad
Because now these huge corporations are going to go to the government for the bailout and its goign to get stuck on the taxpayers.
Great.
NOT
Georgiana, I don't think we would ever be helped up, never mind bailed out. Isn't it funny that so many have said, "the people got themselves into this, so they must deal with it", but those very same ones saying that, aren't saying it about Wall Street and Corporations? I guess because they are the elite, there is a double standard, and it's OUR responsibility to keep them in their comfortable lifestyle, while we are crushed beneath their greed.
Bryan, I feel the same way. I don't need or want a "bailout", I just want to be allowed to keep what we WORKED for!! Take care of my family, and be able to go to a doctor when we need to.
Our 401k retirement account has been reduced to 10% of what it was in 2006. Our retirement account and pension are heavily dependent on Wall Street and so is yours, whether you know it or not.
Do you think retirees and disabled people should not be helped to recoup our losses?
I guess we are not important people when it comes to parting with your hard earned money. I wish I had not read this post or the comments.
I resent your implication that I wrote this with personal greed or gain in mind!!! It is the VERY WORKERS that I was referring to when I wrote this. Are YOU financially well off enough to go in and pay cash for one of those vehicles? That is about the only way it would happen in the current economy!!! The bailout was supposed to loosen the credit market, but it has not, and "bailing out" these automakers is going to be no different!!!
Not only is your retirement DECREASED, but YOUR tax dollars are going to shore up the ELITE of these companies. I would think if you were retired from GM, you would expect, NO DEMAND, that the employees be taken care of FIRST!!! THAT IS IRONY!!!
The 24,000 - 30,000 jobs that would be eliminated in the merger are high level jobs that will be redundant due to duplication, after the merger. More foreclosures and bankrupcies.
Michigan's economy is much worse than most of the country. The merger will keep GM in operation. The stock for which we paid $40 - $60 is now worth about $6. No, we can't afford a new vehicle. Our cars are 10 and 12 years old. If GM goes broke, we and thousands of others, will be begging for shelter.
I have no wish to insult anyone, Anne. This just struck me as not only ironic, but very sad.
My parents are in their 80's and my daughter is in college. They, too, depend on GM, through us, to help them. The merger may help keep a roof over our heads. By denying the merger, it's not only the executives who will suffer.
I was not in any way saying we should deny the merger or even funding for them. I think America needs to keep our Automakers AND keep them IN THIS COUNTRY. I do NOT think that the people who have done so much to missmanage things to date, should be getting handed TAXPAYER subsidized BLANK CHECKS!!
The 24 - 30 thousand upper level positions still do not encompass the top most elite. Those who sit in the board room, and decide the fate of ALL employees, without regard to their families and futures. The ones who would be hurt the least are the ones who will benefit the most.
Idaho's economy is in line with Michigans, since the major money making industry here is the Nuclear sight that is and has been in shut down mode. We have a major problem with illegals here that have driven wages down and cost many citizens their jobs. I am no better off than you are, and when I see mismanagement on such a grand scale, I don't hesitate to bring it to the front.
The best thing that could happen in this merger (though it never will) is to allow the employees to become controlling share owners and allow THEM to take control of the funds.
They are not using the bailout money for its intended purpose but are using it for corporate bonuses and again their will not be any punishment for those corporate welfare clients of Bush and his gang.
It's ironic that people drown. After all, we start out as sperm, swimming a race to mom's egg, while beating out about 1 million competing sperm. --Joe
Those points are exactly what I was referring to. I don't want to see the money taken from the workers who actually worked for and EARNED it, but as has been proven by what just occurred with the Wall Street bailout, the FIRST thing that the money will be used for is to give bonuses and pay raises to the very people who DON'T earn or DESERVE the insane pay packages they are given.
If someone on the assembley line isn't doing his job, they are not going to give him a raise and bonuses, they are going to get rid of them. Why don't we ever see that with the executives? They create the mess, and are rewarded for it. Now once again, the tax payers are being expected to bail them out.
Enough is enough. I am a believer in Democracy, but we can not have a democracy by pretending that the rich can lend money to the country and the rest of us pay them interest back on that money until the system crashes.
We cannot survive where activist elitists pool their money and influence and bombard the rest of us with propganda and lies to create a fantasy illusion of what America is while we only pretend to care about human rights and progress.
McCain is only going to continue to give breaks to the elite, and doesn't bother talking about spending cuts, since he knows that would anger the people. How can he justify taking from the poor to give more to the wealthy?
I just wanted to say I am finally going through what is now under 6,500 pieces of gather new mail that is in my inbox on here. So with that in mind I have finally come to a piece of mail that was addressed to me in regards this article submission you have created to share with the gather community. Thank you for taking the time and sharing your piece with us here at gather. :o)
A bunch of idiots dancing on a plane, to a song made famous by a band that died in a plane crash.
Chelle, that made me laugh because after I wrote the article, I remembered that line from Con Air. Hey, can I be in double secret probation too? Maybe that will give us the huge bonuses that the crooked elite are stealing from us.
Helping you, while helping me!!
I don't know what else to do for either of us, lol