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Friday, November 14, 2008

GM, Ford, and Chrysler Bailout is a MUST!


How is it that our government has no problem stuffing $80 Billion dollars down the throat of AIG executives as they party it up but has a problem with offering a loan to a manufacturing industry inter connected with hundreds if not thousands of other manufacturing jobs and industries all across America. Manufacturing jobs that pay the rent, pay the mortgage, make a couple of car payments and the list goes on that are all connected directly or indirectly to GM, Ford, and Chrysler.

The big three are not asking for a handout without repayment. Matter of fact they are willing to pay back all of it if they are given the chance to survive this downturn in the economy. The current leadership in the Congress and the minority party need to get this done and quickly. Over at MSNBC they have this to say on how quickly they are acting on this…

Senate to take up auto bailout bill on Monday
$25 billion bill offers aid for struggling automakers; Republicans opposed

msnbc.com news services
updated 42 minutes ago


WASHINGTON - The Senate plans to take up a $25 billion bill on Monday to bail out distressed domestic auto companies, but it is unclear whether proponents can muster the necessary support.

Majority Leader Harry Reid, D-Nev., said Friday he “plans to press forward” with emergency aid to automakers and a plan to extend unemployment insurance even though Republican backing is far from assured.

Reid plans to begin debate and hopes the Senate will conduct procedural votes early in the week.


Snip a bolt…

Still, powerful senators like Richard Shelby, R-Ala., appear willing to let the U.S. automakers collapse. Shelby said in a statement recently that the problems facing the Big Three are the product of their noncompetitive structure and not the current economic downturn.

Alabama is home to vehicle manufacturing plants operated by Honda, Hyundai and Mercedes, as well as a Toyota engine plant.
- MSNBC

Dick Shelby is a moron and a fool! While he is in the great state of Alabama with all of those foreign owned auto manufacturers hounding him to not let this bailout happen I’m pretty sure his campaign for re-election coffers are filling with serious donations from Japan, Korea, and Germany. After all, the bottom line of Honda, Hyundai, Mercedes, and Toyota are in fact sending the profits overseas. Way to go you ass Shelby for being a paid for spokesman for a foreign national corporate monopoly in your own state. Ten bucks says he does not even own an American made car! Any takers? How about an American made flag? How can he claim to be an American worker supporter when he just chucked the bird to more than one and ten amongst us and that includes the proud people of Alabama that don't work for his top four best friend foreign national corporations.

Dick Shelby wants to tell all of you folks that work in electronics manufacturing products that eventually end up in a GM car, a Ford car, and a Chrysler car to go screw yourself. Same thing goes with all of you people in the plastics industry that supplies the big three with molded parts, same thing goes for the huge wire and cable manufacturing market in America. All of you folks that make American made tires that the big three are buying, get a paper route and go bag groceries. Do you work in a textile mill that supplies Detroit with fabric for new cars? You just got the middle finger from Dick Shelby too! Steel workers in the foundries spread out from Pennsylvania and beyond should start filling out applications for non existent jobs in an economy that is in collapse. It isn’t Dick Shelby’s problem that you people working in his home state happen to rely on the big three automakers for your weekly paycheck. Dick Shelby says the big three should shutter the doors and with that shuttering so goes many small businesses that supplied the big three all across America. He’s an economics idiot and a moron that has no clue as to how reliant his own state is on supplying the big three American Auto Makers with parts and components to build a Chevy, a Ford, and a Dodge Ram truck!

I feel better, I vented. But I think other folks are just a little bit more interested in this conversation. Chris Matthews has this on the big three bailout with an interview with Senator Debbie Stabenow of Michigan and Representative Jeb Hensarling of Texas…

Video Link



I think we need to add Jeb Hensarling to the list of morons and idiots when it comes to economics. Jeb wants to wave the flag of creation of thousands of new small business jobs with the same money that this bailout loan is proposing but if the big three collapse then Jeb Hensarling just committed genocide on thousands of other small businesses in his home state of Texas. What about all of their jobs at descent paying wages Jeb? Maybe they can get more than minimum wage working for your re-election campaign?

This bailout is not even close to the blank check written to Secretary Paulson to spend as he pleases. While some say that it is the big three auto makers own fault for the environment they now find themselves in I would have to beg the same argument for AIG and the blank check for Wall Street. Should there be concessions to this loan from the big three, hell yes! If the UAW (United Auto Workers) is already taking a big piece of the heat off of all three auto makers by cutting wages in half in new contracts in order to save jobs. The CEO’s, Direcetors, and management of all three can eat the same humble pie. The fact still remains that the auto industry is directly connected to one in ten jobs in America and if they collapse we are not talking about just three million jobs as Chris Matthews pointed out. We are talking thirty million jobs or more with the pressure wave of panic that will ensue when each of the big three declare bankruptcy, skip out on the debt owed to vendors and pretty much start the wave of layoffs all across America. It does not take a genius to understand how the manufacturing environment works and how so many industries are linked together not just by choice. We need more than just common sense when it comes to knowing the weakest link at the top of the food chain in our industrial society. General Motors, Ford, and Chrysler are asking for a loan that they will repay over time. The language of the Paulson Bailout plan is financial industry specific.

Congress and President Bush need to act quickly to save American jobs! This legislation can not wait two months to fester in the auto industry and all the sub manufacturing companies across America that service the big three in Detroit. Bail them out but use common sense in doing so.

Papamoka
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5 Comments:

Blogger B.J. said...

Feel better? I want you to relax this weekend with a little aromatherapy - baby Hazel Marie's baby powder as you hold her! There's never been a sweeter smell! This issue has about 8 million facets, and yours has been one of them. RANTS do make YOU fell better, though, don't they? Have a great weekend. BJ

6:34 AM  
Anonymous Gordon Freeman said...

I sent an email to my congressman asking that he support the bridge loan to GM. I emailed as many people as I could asking that they do the same. I also sent an email to Richard Shelby asking that he reconsider his position in this matter. Please watch the video @ this link. Gordon
http://www.clickondetroit.com/news/17993165/detail.html

6:47 PM  
Blogger Papamoka said...

I'm with you Gordon and think that this is one of the industries in America that has so many tentaciles into other industries that it isn't funny. Talk it up wherever you can and thank you for your great comment! You rock my friend!!!!

By the way, that video was right on showing that the UAW and GM are on the same page. We need to save American jobs and that needs to start with the big three in Detroit.

10:29 PM  
Blogger Susan said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


Susan

http://www.car-insurance-choices.com

1:37 AM  
Blogger tapsearcher said...

Our economy based on making money on money instead of making things has burned out. Workers and labor are the only real tangible assets left and we must do all that we can to at least maintain this value.
Once the bail out of Big Money passed, both rich and poor have been subsidized. Those who are against the big 3 auto company bail out should first give back their portion of money that is now protected under the big money bail out. If the investment market and stock market are provided levels of protection, than the real assets behind them must be protected too.
http://tapsearch-global.blogspot.com

http://www.bizarrepolitics.com/

http://tapsearch.com/tapartnews provides a chronical of events that forecasted our economic storms and you explore the lost worlds in the Globalist Free Trade Flat World
at http://tapsearch.com/flatworld

The scam of the century is over and it is time to connect with the realities of the streets of USA.
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12:55 PM  

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