Quote:
Originally Posted by Vulcan
Sure, this may be the new reality but without the bailouts, it could have been worse. It may get worse yet and what the US government has done may come to nought, but I think they had to try. As in everything the future will tell.
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Bailouts are the ugly result of a government not fixing the problems before they turned into a trillion dollar taxpayer 'problem.'
Did GM go bankrupt because of gross negligence and sheer stupidity? Not being willing to adapt to newer technologies, get with the times, etc, etc? By some accounts, that is exactly what happened.
And regardless of the result of a declared bankruptcy, the taxpayer shouldn't have to foot the bill for a company who can't stay afloat. Especially when numerous other similar 'car' companies didn't have problems THAT big.
But you're right, time will tell. I just don't think until the private sides starts investing their money that the economy will do anything. If I knew how to fix that, well someone would probably be paying me a lot of money.
Just don't think that a trillion dollar taxpayer tab was the right move. An ugly solution to an uglier problem.