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Tom Francis - SWSports

On Sun, 07 Dec 2008 09:14:07 -0600, wrote:

You know, we have already spent $350 billion to bail out the *******s
that caused this mess. We've let them keep their millions in bonuses,
but we're quibbling about spending 1/10 of that to save an industry that
provides 1-3 million jobs. I don't get it. And, I would point out, it
was the incompetence of Wall Street that brought Detroit's troubles into
crisis.

No - it was not caused by Wall Street - it was caused by two outsized
factors - the first was the speculative oil bubble which placed an
absurd tax the average American who suddenly had limited funds due to
the increased costs of fuel and fuel oil. The second factor was the
refusal of the FED and Treasury Department to back up Bear Stearns -
which was a solvent company with plenty of assets that had run into
liquidity because of ourside pressure on it's stock.

GM had been in trouble for years prior to the collapse.

With respect to Obamessiah's New New Deal, the original New Deal was a
joke and strictly make work. This isn't going to work either because
it's a SOP to the construction unions to keep their members busy -
screw everybody else.

Tell me - what's an average factory worker make building solar panels.
Have any idea? How about a truck driver - non Union? How about a
flag waver for traffic control. The guy who runs the paver, the
roller, the bridge steel worker. Is Obama going to give all these
people the same rate of pay regardless of what they do? How is he
giong to control the cost? Is it going to be privately contracted or
government contracted? How about the engineers, the surveyors, the
cost managers, accountants and lawyers - they all going to be paid at
the same rate as professionals?

It's a joke - you know it, I know it.

--

"Every normal man must be tempted at times
to spit on his hands, hoist the black flag,
and begin to slit throats."

H. L. Mencken

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