number5 wrote:
nthach wrote:
number5 wrote:
auntblabby wrote:
nthach wrote:
if you're a professional welfare queen leeching off Medicaid, Food Stamps and welfare I do have a problem.
are you an equal-opportunity hater of the welfare
kings as well? [IOW corporate ripoff artists]
But leeching welfare queen sounds so much worse than corporate tax loophole. Let's go after the folks living it up in the projects, but leave the vacationing jet-setters alone!
Them too I have equal hate for. It's time for businesses to pay their fair share and for government to NOT bailout private enterprise. The reason why Herr Obama bailed out GM and Chrysler is because the UAW gave his campaign millions. The bank bailouts is because Biden hails from Delaware, a state that is business friendly - and many businesses have their corporate charters there - yes, Bank of America/Chase/WaMu/Wells Fargo/Lehman Brothers, etc are charted in Delaware. I think businesses need to move away from the shareholder theory onto the stakeholder and social responsiblity theory.
The Chinese, Indians and Russians should have bought out GM and Chrysler and put them out of their misery.
The auto bailout that was done on Obama's watch was actually a smart move. We didn't just hand them a bunch of cash and say "here" (like Bush did - money we'll never see again). Instead, Americans became part owners and it looks like GM is making a pretty nice comeback. We'll likely see every cent returned, and possibly more.
The bank bailout is another story. The whole thing would have sat a lot better with me IFF we attatched significant reform to ensure that the risky, gambling with other people's money crap would end. We didn't and wall street is back in business while the rest of us are still in the thick of a recession.
I still think GM won't change, ditto for Chrysler. Ford's making some amazing progress OTOH. Chrysler still hasn't learned the lesson from their past bailout in the 1980s - the only things that saved them were Lee Iacocca and Mitsubishi. Chrysler tends to make "fad" cars. Toyota and Honda stole their thunder in minivans in the 1990s. They have quite a few one-hit wonders like the Neon/PT Cruiser, Charger/Challenger/300, and the Viper. The 300/Charger/Challenger were out just before the recession began to fully kick in - and since they are big, heavy and had the option of a Hemi they were thirsty. GM's in shape now, but as soon as the government releases their interest in GM, they'll go right back to making more SUVs. GM makes more money off SUVs since you can outsource many components on an SUV/truck to an outside supplier and all GM has to do is assemble them in their plants.
As for the banks, I feel we need some control in the banking industry - more specifically in credit. Tighter controls on home loans and an outright ban on predatory lending such as ARMs and payday loans/rent to own which swallow the poor whole.