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Nixon's Tangerines
Dec. 5th, 2008 03:27 amAnd thus did I write to my representatives:
I'm writing to express my opposition to the proposed bailout of the Detroit automakers. I simply don't believe that the industry is capable of any meaningful reforms, or even of learning from past mistakes. The present situation didn't develop overnight - it came about slowly, over a period of some 35 years or more. It was very plain what was happening to the car market, but Detroit chose not to change. They wanted to wring out every last cent in profit, rather than reinvesting in facilities and tooling. Now they'd like the taxpayer to pick up their capital costs, so they can get back to skimming off profits for another couple of decades, until they need another bailout. I don't want my money used for that, and I'd have a remarkably hard time voting for anyone who did use my money for that. Please let them sleep in the bed they've made.
*****
I'm pissed about this, and don't want any of my money used for a bailout. The banking industry we probably have to save, as badly as I dislike the thought. That's a critical industry. Ford, GM and Chrysler can all three go down in flaming ruin, and it'll be sad, but make only a temporary ripple. There are all kinds of car companies willing to do a better job than Detroit.
I'm writing to express my opposition to the proposed bailout of the Detroit automakers. I simply don't believe that the industry is capable of any meaningful reforms, or even of learning from past mistakes. The present situation didn't develop overnight - it came about slowly, over a period of some 35 years or more. It was very plain what was happening to the car market, but Detroit chose not to change. They wanted to wring out every last cent in profit, rather than reinvesting in facilities and tooling. Now they'd like the taxpayer to pick up their capital costs, so they can get back to skimming off profits for another couple of decades, until they need another bailout. I don't want my money used for that, and I'd have a remarkably hard time voting for anyone who did use my money for that. Please let them sleep in the bed they've made.
*****
I'm pissed about this, and don't want any of my money used for a bailout. The banking industry we probably have to save, as badly as I dislike the thought. That's a critical industry. Ford, GM and Chrysler can all three go down in flaming ruin, and it'll be sad, but make only a temporary ripple. There are all kinds of car companies willing to do a better job than Detroit.
