Monday, September 29, 2008

Automakers Jumped On The Wagon Too

The more I read up on the current bank and credit crisis the angrier I get. Although I am not opposed to a financial assistance package to prevent the credit crunch from bringing the country to a standstill, a straight forward bailout package rushed through Congress, adding on more pork fat as it roll along with little strings attached is unacceptable.

Talk about more pork, as a side note, they are now trying to add $25 billion bailout for auto companies. Why? These palookas have been making shitty cars and bad decisions for years now while the writing for change was clearly on the wall. Now that the gas price is sky high they can’t sell their gas guzzlers, their biggest money makers, anymore. Last I looked there were no reports of financial troubles in Toyota or Nissan or BMW. If there are they are sorting it out by themselves. Why the hell should the tax payers bailout Ford and GM and Chrysler? And it is truly a bailout, here’s the check, no questions asked. No, they were just as greedy as the bank executives, with no financial foresight. But again, as proven so often, the lobbyists in Washington are far more influential than tax payers. They have the ears of Congress because they have the money for their elections.

Politicians are now farting stink bombs at the speed of light because the want to return to the constituencies to fight an election and they are now in panic mode. That’s why they are rushing. They think if they do nothing they will be roasted at home, probably true, but in the meantime Main Street is protesting the high bailout plan. Personally I feel Main Street is expecting something to happen, some help to organizations that was really dragged into this mess without a choice, but Main Street much rather want to see help for Joe Regular Guy and most certainly not something that will broke the bank (pun intended) for the tax payers. Damn, didn’t President Bush do that already? I know lobbyists is behind the automakers bailout and I am convinced lobbyists is also to some extend behind the financial bailout of banks, although I am sure the Fed and the Administration are also pushing just as hard if not harder for the bailout. After all, this crisis could in later years maybe be seen as a defining moment in the Bush presidency. (He certainly will be remembered for some significant events on his watch, the 9/11/ attack, the financial crisis of 2008, the questionable war in Iraq, etc.)

To me democracy means “we the people.” Period! That means no place for lobbyist. They don’t have a vote as a group. They have a perfect venue to push their case, their vote in an election as individuals. I know Sen. John McCain is a gambler, hence his knee-jerk reaction in selecting Sarah Palin as his running mate. I am not saying it’s a good or bad decision. I simply don’t know. Time will tell. But if McCain can guarantee to me that he will get rid of lobbyist, he will have my vote.

Alas, that won’t happen, getting rid of lobbyists that is, because the First Amendment clearly protects the freedom of religion, speech, press and assembly, and a fifth freedom…the right "to petition the Government for a redress of grievances.", in other words, lobbying.

“But Sen. McCain I will settle for less. No earmarks, thus no bailout for automakers. They are on their own.”

PS: There is a lot of blame going around and many should rightfully share in the blame. The Administration through the years, Congress, both a Republican and Democratic one and off course Wall Street. Here is how Wall Street points out the Government’s contribution to this issue.

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