Yup, looks like it: ["House clears $25bn for carmakers"].
This is not as bad as the bank situation but it reeks. Essentially what the Congress is saying is that you can run a company into the ground, make bad products, make high-ticket items that no one wants to buy and that are irresponsible to the health of the environment, and our government writes you some low interest loans to help you get by.
What happened to, Sorry, you screwed up and made bad decisions, file for bankruptcy? Instead of doing this, why don't we bring back tariffs and raise more money on the imports? Or, let the big three go under and Toyota and Honda will hire all those folks who are out of work to make more fuel-efficient cars that we all want. The more of those cars they make, the more the price goes down and the more regular folks can afford those cars. It's a win, win, win proposal unless you are one of the big three who have made all of these poor decisions.
They could even retrofit all the factories to make solar panels so those prices can go down. This would allow the consumer to be less reliant on the power companies who are creaming us with their high rates. This all seems like a better investment of $25 billion than to prop up the big three who have no one to blame but themselves for their terrible business model.
This is not as bad as the bank situation but it reeks. Essentially what the Congress is saying is that you can run a company into the ground, make bad products, make high-ticket items that no one wants to buy and that are irresponsible to the health of the environment, and our government writes you some low interest loans to help you get by.
What happened to, Sorry, you screwed up and made bad decisions, file for bankruptcy? Instead of doing this, why don't we bring back tariffs and raise more money on the imports? Or, let the big three go under and Toyota and Honda will hire all those folks who are out of work to make more fuel-efficient cars that we all want. The more of those cars they make, the more the price goes down and the more regular folks can afford those cars. It's a win, win, win proposal unless you are one of the big three who have made all of these poor decisions.
They could even retrofit all the factories to make solar panels so those prices can go down. This would allow the consumer to be less reliant on the power companies who are creaming us with their high rates. This all seems like a better investment of $25 billion than to prop up the big three who have no one to blame but themselves for their terrible business model.
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