Should we bailout the Auto Industry?

[lasto]

on further thinking about this problem then maybe we should help these firms out.
Reason being if we dont then loads of people are going to find themselfs without jobs and without jobs a lot of people will lose their homes.So if we bailout the companies then we better make sure we get every penny back and this is not just a short term solution before they go under anyway.
Problem is we bailing everything out these days and i fear this is going to have a lasting effect for yrs to come.

[UKBusinessLive]

Originally Posted by lasto

on further thinking about this problem then maybe we should help these firms out.
Reason being if we dont then loads of people are going to find themselfs without jobs and without jobs a lot of people will lose their homes.So if we bailout the companies then we better make sure we get every penny back and this is not just a short term solution before they go under anyway.
Problem is we bailing everything out these days and i fear this is going to have a lasting effect for yrs to come.

The problem being is, that the idiots that created this mess in the first place will still be employed, will still get millions in bonuses and back pay and whats to stop them doing it again next year.

Not one single person has been blamed, or sacked as a result. if we bail companies out it has to be on our terms and conditions, and with benefits that work for us

[Rapscallion]

Economic Darwinism is being thwarted. The guilty are not being punished. The innocent (workers and the like) outnumber them and should be protected.

If the government has to put money into a company, then the government should own it. I'm in favour of nationalisation of essential services, but for something not essential then I fully believe that if a government has to intervene they should have the right to take it over and then sell it to someone who will run it properly.

Rapscallion

[lasto]

but what happens if the goverment owns everything ?

[steven s]

Originally Posted by lasto

but what happens if the goverment owns everything ?

Won't happen. Business owns the government.

Edit: What is good for GM, is good for the country. 50 year old quote.

[Shelley_c]

It's the banks who are the real criminals increasing interest rates, high executives living in luxury (giving themselves hefty bonuses) and are the first to extend their hands out and cry wolf at the expense of the taxpayers.

The corporate scroungers have it easy knowing they can pull out the bail out clause out of their ass whilst people are losing their homes whilst these high end companies are fed and injected with more cash and a silver spoon fed to them.

The government shouldn't bail out any large corporation and show the same treatment they show to the smaller businesses that fold by the thousand s each year.

[KevinL]

Unless we/you/us wanted millions upon millions of people out of work AND homeless I'd say yes we had to bail them out...

[TruthElixirX]

No, do not bail anyone out.

/me is majoring in economics.

[UKBusinessLive]

I say if the banks don't want to go bust then they should claw back some of the millions spent on bonuses and gold plated pensions. How can anyone who works for a bank expect to get silly money like this when the banks have done so badly.

Bankrupt the greedy bankers and lets have a bank run by the people for the people.

Look at this guy....

NEW YORK (CNN) -- A federal bankruptcy judge Tuesday approved the release of more than $28 million in assets belonging to accused swindler Bernard Madoff to pay for the administrative costs related to his case.

Madoff is accused of bilking investors out of some $50 billion through a Ponzi scheme that he allegedly ran through his investment advisory business.

According to papers filed in federal bankruptcy court in Manhattan on Friday, the Bank of New York Mellon Corp. (BK, Fortune 500) has agreed to transfer the money to the federally appointed trustees presiding over the liquidation of Madoff's investment firm.

The court papers said that $883,000 had already been transferred to the trustees to pay employees' salaries and health care benefits. ~ Why??? They are conmen, They don't get paid full stop

According to representatives for the trustees, the funds are needed to pay employee salaries and other costs. ~ Define other costs???

The trustee would also sell off assets to recover funds for the investors who lost money held by Madoff, the trustees' representative Richard Bernard told the court on Tuesday.

Madoff remains in his Manhattan apartment under 24-hour house arrest. ????? ~ Whatever happened to Prison like everyone else??His $10 million bail was secured by properties owned by Madoff and his wife, including the Manhattan apartment and a Palm Beach estate.

$10 million bail was secured by property??? Whats that about, he bought those properties with the proceeds of crime, how can he use that as bail??? Its like i've just robbed the bank of 5 million and then using that money for my bail !!

Why are governments so scared to do the right thing???

[lasto]

Matters like this should be put to the public vote and let us have a say on whether we want to bail them out.After all its us who are going to be paying if all this goes belly up.