Archive for November 20th, 2008
White Collar vs. Blue Collar?
As I have sat here over the past week watching the major new channels, I am astounded by a couple of things:
1. How could this castrophe of an American economy have happened?
2. Why would the government bail out the banks and insurance companies?
3. If this was a good move, then why not bail out the Big Three automakers?
It just seems to me that if if it is good for the goose, it is good for the gander. The auto industry is such an important aspect of our American economy. If the Big Three were to file bankrupcty, sure the companies would have an overhaul of mananagement which is sorely needed when the three boss hogs have the nerve to fly to Washington on their private jets to beg for more funding, but what about the 3 million job losses this bankruptcy would cause? What about the US losing any hope of becoming the formidable automobile maker it use to be against the ever present Japanese and German automakers? Can we say “from recession to depression?”
Sure I am totally against these huge bailouts, particularly for those companies who haven’t a clue what to do with the funds they have been given. But at what cost to the country do we decide to al of a sudden “yank the wallet away” at a crucial point such as this? The government does not want to bail out the Big Three, so are you then willing to pay billions in unemployment claims?
Not bailing out these companies would prove to be disastrous to an already delicate economy, but the executive management of these three companies should be ousted as fast as their private jets can fly. A bail out should come with major stipulations that will help the company find new and improved ways of manufacturing more cost friendly, and environmentally friendly vehicles.
The way I see it, it is just fine for the “tax payers” but to bail out the white collar groups even though their CEO’s are just as obnoxious and greedy, but the blue collar groups, once again, are left in the cold. Afterall, it is the blue collar workers who actually puts these cars together on the line that will lose everything. I am quite sure that the CEO’s will walk away with a nice “golden nugget” if they are fired, perhaps more then their actual compensation, so are they really worried?
As far as I hear, the bail out is most likely not to take place. So my fellow Americans, begin preparing for an even tougher time of it over the next few months as millions begin losing their jobs and filing for unemployment. Either way, the tax payers lose, but I would much rather pay to help keep millions of jobs and avoid driving us into depression, then to pay for unemployment. The choice is ours, or is it?
