Saturday, December 20, 2008

Automakers grab loans, look to Obama White House

I hope that the Big 3 automakers realize that government becoming a stockholder in the companies means that the Federal government will have a gigantic say on every part of these companies' operations & Dubya is requiring rules for the automakers to follow to get bailed out & none for the financial institutions that received $350 Billion. Changing wage & work rules that are competitive with foreign automakers by the end of next year means reducing salaries to what the foreign auto workers make even though states are giving gigantic tax breaks to these same foreign automakers to locate & stay in these states & the money these foreign automakers are receiving is not staying in the U.S. Why isn't Dubya requiring the same of the financial institutions? Why are we giving taxpayer money to companies such as AIG who are giving executive compensation packages with taxpayer money, spending thousands of dollars of taxpayer money staying at 5 star hotels & resorts? Why isn't Dubya & Treasury secretary Paulson requiring AIG to repay this money back to the taxpayers?

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