Tuesday, November 18, 2008

Opponents of Auto Industry bailout are trying to have it both ways and America loses

Opponents of an Auto Industry bailout, who asked for the Banking and Insurance bailout, are scoffing at an Auto Industry bailout, even if preceded by a Bankruptcy filing to reorganize. Just weeks ago, all Americans were in fear that we were going to face a collapse of our system and Free Enterprise. No one who really saw the magnitude of the problem argued with the bailout request by the Republican Bush Administration. Many argued against the bailout by the Republican minority but many signed on after they got some changes within the legislation which was passed in a bipartisan way.

Many still fear the further collapse of the system and see the Auto Industry as a key legacy of the U.S. manufacturing sector. And since it represents about 1 out of every 10 employees in manufacturing. Is it true that the Auto Industry management has failed their workers and the country? Absolutely yes! Has the Congress failed us, especially within the State of Michigan, by going along with the Auto Industry Management in not raising mileage standards? Absolutely yes! Which is why any bailout must have as a requirement that any bailout by preceded by bankruptcy filing, the elimination of the current leadership, a requirement to be a leader in higher gas mileage and alternative energy sources for a Greener environment.

It's time to come together and do what is right for America. We don't have a lot of time to get this right. We voted for a new President and with him, a new direction. The burden of failure here for the Auto Industry will lie with the remaining Republican Congress and Senate, not exclusively with the Auto Industry Management, given their strong opposition to any bailout on any conditions of the Industry.

If it was in America's interest to bail out the Financial system and their Insurance Industry, it makes sense to bailout the Auto Industry conditional on the needed guarantees from that Industry.

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