President Barack Obama Message Board

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Politics : President Barack Obama

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To: Lizzie Tudor who wrote (45297)	11/20/2008 5:41:44 PM
From: tejek	Read Replies (1) of 149317

The senate isn't seeing it that way, why do you think that is? The same idiots who brought us Bush are fighting this bailout the hardest. That should tell you something. Seriously. I think its because that 3 million jobs that detroit is complaining about is really not that much, it includes every associated/related job like food service for companies and hospitality workers, if you count jobs that way EVERY major downturn creates 3 million layoffs.... the banking industry now for example, the real estate crash, the dot com crash. Three million is a conservative number. There are auto suppliers who say they can't stay in business if GM goes down. Toyota has said they will be in trouble because they use the same suppliers as GM and F. And Toyota's business is small potatoes compared to GM or F. Most of GMs workforce is RETIRED, those people are not creating widgets anymore, there is no effect on the overall economy if they get taken over by the govt. Liz, its not the jobs per se that's the major reason for saving these companies. Its the principle of the matter as ridiculous as that sounds. The auto industry is an important part of America's manu. base. Up until last year, GM was the largest auto company in the world. Its the best seller in China and India. GM and F make up America's face to the world. They are intrinsic to who we are.....to give up on them will show the world we are no better than the country that invaded Iraq. Let's not screw the pup because mgmt at GM is made up of a bunch of losers. Replace them but get a bailout in place. Pelosi asked them for a plan to profitability, they have until december to produce it, lets see if they can. I agree with that wholeheartedly......such a plan should include a provision for the phase out of current mgmt.

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