For a few days there it was looking like Congress was going to begrudgingly put up the money to keep the Big 3 afloat for a while and hopefully begin the turn-around to making the companies profitable again. But no. It doesn’t appear that there is willingness anymore, and what appears to be the big fat straw that broke the camel’s back is their individual luxury jet jaunts into DC for the hearings. That was just too much, Congress is saying. And the media. And stupid other people who are smart but who cares because I think that luxury jets are not the point.
Essentially what the Congress is saying is this: Big 3, we don’t need your tax revenue or GDP, we don’t need the subsequent small businesses that count on you for their livelihood, we don’t think the 3 million people working for you deserve their jobs, they just make too much money and have way-too-good benefits, so we think they are better off getting unemployment and finding another job, and we don’t need the technology that you might have created enabling green energy or alternative fuel vehicles or any other thing you might have contributed. And in fact, this is a great time to let you fail – right now when we are in our biggest financial crisis maybe ever.
Make no mistake, as ugly as financial bailout is, the fallout of the Big 3 failing will be far, far worse.
Listen, Congress, the Big 3 are asking for 3% of what you’ve wasted so far on companies that have no accountability and have nothing to show for it. Can’t you spare a little change for the sake of our nation, our future and to protect this country from the devastation of total auto industry meltdown? Just a little change!?!?