I need a bigger brain

Because mine *must* be too small

Published on December 16, 2008 By ZubaZ In Politics

I must be missing something. I know I'm not supposed to use logic when dealing with teh feds . . but can someone with a bigger brain help me out?

Fact: $700US was legislated to bail out the banks.

Assumed (by me): that this was near the amount needed to avert the crisis

Fact: the President and the Treasury want to use some of this money to bail out the auto industry

Questions:

Did Congress approve more than was the minimum needed?
Did the banks end up not needing so much?
Is there any oversight over how the money has been/will be spent?
Has there been any benefit to the end-users yet?
Is it right for the treasury to allocate funds for the automakers after Congress failed to pass new legislation to do so?

It makes me sick how my money is being mispent. I'm one of the responsible ones. I spend less than I make. I have a fixed rate mortgage on my house. I own my cars. I don't have a credit card. Why can't the government act AT LEAST as responsibly as me? They have the biggest brains ever, right?

Comments (Page 2)

Dr Guy

on Dec 21, 2008

At one time UAW fought an oppressive management...guess they gazed into the abyss too long...and became the thing they fought against.

Put so succinctly and well! That one merits a cookie!

EL-DUDERINO

on Dec 22, 2008

At one time UAW fought an oppressive management...guess they gazed into the abyss too long...and became the thing they fought against.

So much so that they actually asked for ownership stake in GM as well as a position on the board in exchange for some concessions on the UAW contract. I don't know if that deal actually went through or not but it just screamed conflict of interest. Had I been a due paying UAW member when that deal was announced I would have been screaming bloody murder to get the the UAW president and his cronies fired for suggesting such a thing.

eieio

on Dec 22, 2008

So much so that they actually asked for ownership stake in GM

May happen eventually. Call it a premonition.

chadwbaker

on Dec 22, 2008

DrJBHL

comment 15

Here is another, Toyota doesn't have the UAW telling them what they have to give to the workers.
I had hoped that sentiment came thru in the post...guess not

Oh it did. I was trying to just add to it.

At one time UAW fought an oppressive management...guess they gazed into the abyss too long...and became the thing they fought against.

Personally I feel this happened as soon as the UAW attacked Ford the first time. Ford paid his people well. UAW just wanted all the power.

DrJBHL

on Dec 24, 2008

You won't find me pitying Henry Ford.

He was a sick, ignorant antisemite. Anybody who shafted him gets my gold seal of approval.

taltamir

on Dec 25, 2008

Have you read about how the banks are refusing to tell congress how they spent the first 350 billion, so congress is throwing a fit and saying they might not release the other 350 billion until given specifics on how the money is spent?

taltamir

on Dec 25, 2008

Also... I read a news article that claims that the reason congress did not approve the bailout to the auto industry was that the auto unions will not agree to having salaries reduced to that of americans working in american factories for foreign car makers... aka, honda for example has 3 factories in the USA. Their american workers have certain pay grades...

Am I to understand (from the comments here) that the executive branch is still going ahead with auto bailout despite congress shooting it down?

ZubaZ

on Dec 25, 2008

Am I to understand (from the comments here) that the executive branch is still going ahead with auto bailout despite congress shooting it down?

They sure did.

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