Posted on 11/13/2008 10:16:08 PM PST by maccaca
“..distrust an elected official...” My word! What’s this world coming to if you can’t trust elected officials?
(sarcasm off)
I know, and that’s why I said I was only mildly disappointed. When I read the whole Weekly Standard article, my impression was that she opposes bailouts except in cases of emergency where a bailout is necessary to prevent substantial economic hardship. She then says in so many words that the government hasn’t given us sufficient information to conclude that the exception should apply.
Many people will be satisfied with this position, but I’m not one of them. I want no federal bailouts — on principle. If I want to invest in GM, I’ll buy GM stock. I don’t want my government forcing me to do it with my tax dollars (and without even giving me GM stock in return). I have better things to do with my hard-earned money than to bail out failing businesses that happen to be politically connected.
Whatever economic pain this cold turkey approach causes will be far less than the much greater economic pain (and loss of economic freedom) that we will suffer in the future if we don’t stop this inexonerable march to socialism. The government has already partly nationalized the banking industry, and in addition to the auto industry it also is targeting the health care industry. This must end. And the first step to getting out of a hole is to stop digging.
You tell ‘em Sarah!! I love that she has not shriveled back home and has come out swingin’!
I pray that Sarah Palin has a future in national politics. This media and McCain/Romney camp trashing of her is an outrage. They know her future is bright and they are afraid of her. May God bless Sarah Palin and her family.
No, it's going to happen. No way that Sarah Palin will not be POTUS. Whether four, eight, or more years, it will occur.
Let's get this straight - she makes when WE assist.
Nail the leper McCain campaign LOSERS and support HER along the way. Four years is 1,460 days. It started a week ago. Get to work, we're already 8 days down.
Who was the a-hole who appointed Hank Paulson to Treasury and Chris Cox to the SEC?
Oops, that would be George W. Bush.
Chris Cox is also known as the “short-seller’s friend”.
I bet he has a girlfriend over there. Or maybe it’s a guy. Or several of them.
I think Gov Palin was looking at the “big picture.” If a giant like GM fails, then the trickle down effect could have horrific consequences on the economy. All the third-party suppliers to GM, the dealerships, it’s more than just the corporate entity that’s effected.
What I think she was saying was what is the total effect of the bailout, how much is it going to cost, why is 25b the “magic” number or is this just the first installment of a larger bailout later. She is saying we don’t have all the necessary information yet to make an informed decision.
On another note....It’s “bonus” time for GM’s upper management, 50 executives are to share 30 million in year-end bonuses...gee, I wonder what the bonus structure would have been if GM would have actually made money....and Happy Holidays to the estimated 13,000 blue collar workers who are going to be laid-off in the next couple of weeks. No wonder Sarah is not in favor of the bailout of this entity.
Yes!!!
This is why Palin resonated so well with the American public and why both democrats and RINO’s are trying to villify her.
Spot on by Palin.
A business failure always has consequences for the business’s suppliers and customers. I’m sure that when GM put the carriage industry out of business way back when, the carriage industry’s suppliers and customers suffered as well. But only in the short term.
Besides, the Big Three would not literally go out of business unless we bail them out. They would simply file for bankruptcy under Chapter 11. Once they are in bankruptcy (or even before), they could then attempt to renegotiate their agreements with their lenders and especially with their unions (who are largely at fault here — you don’t see Toyota, Honda, et. al. running to the government for bailouts even though they also make cars here). In addition, Congress could pass new laws to ease or even eliminate many of their regulatory burdens, with much less expense (if any) to taxpayers.
Meanwhile, the Big Three would go right on making cars. As far as I can tell, this is a much better solution than continuing to pour tens of billions of dollars into subsidizing failure. And it is the free market solution, meaning if they still can’t make it, they will go out of business, thus freeing up capital for much more profitable investments that ultimately drive our long-term economic growth and prosperity.
I am aware of the ramifications of trickle down. I guess I was making the point that maybe the Gov was looking at the “big picture” and there wasn’t enough information on the table to make an informed decision. Personally, since I live in MI I see the impact of Gove Jenny’s decisions on a daily basis. No one in their right mind should think the 25b or 50b would save the auto industry.
I was listening to WJR this morning and someone suggested the UAW pump in some of their retirement account income, a “loan” to the auto companies. They’d have a vested interest in keeping the auto industry viable and may be more apt to renegotiate some of the outlandish provisions of the UAW contract. I can’t see going to the Federal government asking for free money as any incentive to cure the auto industries woes.
Unfortunately, as long as the top executives are allowed to make “bonus” money regardless of the company’s performance, there will be no incentive to make a better and more affordable product.
And, the Union hierarchy isn’t any better. The top brass at the UAW are making a very comfortable living off the backs of their membership. Maybe they ought to spend a little time on the line again to see what workers have to deal with.
I saw something in that Lauer interview (I think) where she was saying she was not upset at all the attention, on the contrary she was dying to get the chance to set the record straight and make the case to the American people.
She really does have that Reaganesque love of communicating and framing the issue. I think that's just her personality...she's no shrinking violet, she's a communicator and a leader.
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