Monday, November 24, 2008

Rep. Thad McCotter Speaking About Auto Bail Out

This is coming out of left field but I think it is important. I grew up in areas where the only jobs low and middle income folks could get were industrial. When those jobs were dismantled and sent elsewhere the communities crumbled.

There were "promises" of other jobs taking their place. For the most part that led to service jobs or no jobs at all. So I understand at a citizen level what could happen if the automakers don't get their loan. I don't like it but try living in a former industrial city or community. Closed businesses, empty buildings, increased crime rises and there is no tax base. Only the survivors can support the city and there isn't enough of them. It is no way to live.

This is a video of Rep. Thad McCotter speaking about his perceptions of why this loan is important. He makes good points and he isn't shoveling the usual political BS. It is about eight minutes. I hate the bail outs. I've said as much and will continue to do so, especially when the money is going to institutions and people who caused the problem.

I hate that they are being rewarded for doing so and we, the American people were lied to again. We were forced to write a blank check to the banking industry with no conditions and we have to pick up the tab.

The automotive industry is asking for a $25 Billion dollar loan. Loans have to be paid back. The difference between this and that banking give away is that there isn't going to be trips to spas or rewards for a job poorly done. It is to allow the industry to help them get their act together and move forward.

Just watch the video and think about what the man is saying. I don't have the answers. Maybe we should allow market forces to apply across the board as what was taught to us as a mantra. Or maybe we need to figure out other ways of handling this situation.


  1. Help for the automakers is NOT like free money for the banking bale out. This would be loan, and would be paid back in several ways.

    2.Security for American industry jobs.
    If America looses it's auto industry the impact will reach out and touch almost every American work place. The list is seemingly endless. So please consider these are viable companies, and Detroit is the Silicon Valley that has kept America rolling for decades.

    This NOT just a Detroit problem, and it's impact will swell the unemployment lines from coast to coast.
    Perhaps the bigger question is do we as a country wish to reamin an
    industrialized nation?

  2. That is a very good question. With the export of the textile industry, certain parts of manufacturing industry and even traditional pink collar jobs - customer services and support, I don't think we can afford to lose one more home grown industry.

    Yes, I'd want conditions on the loan.

    But I wanted conditions on that stinking bank bailout too. Still want them. They have proven that you can't take a banker's word for anything.