Simple Man Politics

Well my friends I’m back with another installment of Simple man Politics for you, and today’s topic is the 15 billion dollar bailout of the auto industry. I know I have blogged about all of this before, but it just won’t go away. Anyway it’s time to get started so let’s get it done.

Today congressional Democrats sent the White House their 15 billion dollar bailout bill. This bill even has a provision in it for a car czar to oversee the auto industry. Basically this will put the tax payer into business with the auto industry even though they are calling this a bridge loan for the auto industry. If it is a bridge loan then why do they need government oversight? Loans get paid back right?

The car czar will have to be notified of any major business decisions, transactions over 25 million dollars, and any change in the auto makers financial condition. What this means is that DC will have the first and last say in any business decisions made by the Big Three. We own it but the politicians will run it for us.

What’s next congress gets to design the autos? I don’t know about you, but I don’t want those in the picture at the top of this blog designing the car I drive. What do they know about automobile manufacturing anyway? If they run the businesses they are bailing out like they run the government, every facet of industry and business from the financials to the auto industry will be suffering trillion dollar deficits before the 2010 mid term elections.

Maybe I am just stupid, but I really don’t understand why chapter 11 bankruptcy is not an option for the auto industry, or the mortgage, and financial institutions we have bailed out for that matter. It allows them to restructure their business by doing away with excess waste. It would also allow them to renegotiate bad labor, vendor, and supplier contracts. It would also make them economically viable and a good credit risk for lending institutions. As a result government intervention in the market place would not be necessary.

As far as the CEO’S of the Big Three stepping down from their positions as Chris Dodd has mentioned to get these loans, maybe Chris Dodd, and Barney Frank should step down as the chairmen of their respective committee’s for allowing the mortgage crisis, and the resulting banking crisis that ensued. Failure to regulate and oversee the mortgage, and banking industry is what led to the Big Three not being able to secure the loans they needed to stay in business, which led to their crisis, well that and ungodly labor contracts with the UAW. Maybe Ron Gettlefinger should step down also, and then there would be one less organized crime figure associated with the unions.

That’s it for today my friends; I will be back again soon. Have a terrific day, CIAO4NOW!!!!!

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