This release of money to various and sundry businesses WITHOUT A BUSINESS PLAN, is beyond justification. The United States here is the lender of last resort. What "lender" would provide money without "a plan" for its repayment, and also demonstration of a viable ability to repay the money.
The auto industry-UAW ploy is a case in point of a request for money without any prospect of a floundering industry gaining the ability to maintain itself. The major political operator here is the UAW, which has a hold on the Democrat Party.
The auto industry chiefs fly to D.C. for the evaluation of their request in private jets. Not good PR, and probably indicative of the arrogance of these elites.
The industry has been failing for what, more than a decade now, and all they have done is dissipated their resources. Crunch time. The government has a pension rescue fund for pensions of $50,000 or less, doesn't it, so the taxpayer will pick those up. Then the contracts need to be rewritten to pay the semi-skilled labor what it merits on the open market, the inept executives have got to go and not be paid exorbitant fees for running a failing enterprise, and the whole industry model needs to be changed. It seems to be time for bankruptcy and restructuring. Maybe the various "l;ines" could be sold off to individual entrepreneurs, who have a plan and risk their own money, or private money which thinks their plans to be viable. Some will sink. Some may prosper.
What "lender" (John Q. Public), will lend money under the current circumstances. (Probably your money will indeed be used because of the corrupt political system.)
The bank bailouts have involved "trillions" of dollars to date, almost all of it under the radar. It should be "jailhouse time" for both industry executives and politicians. But it's thievery that isn't illegal. What is it they used to say, back when the USSR was a seeming competitor, "Comes the revolution, we'll all eat borscht." It's to bad that the flimfalm men cannot at least be scapegoated. Who will the scapegoats be?
Keep in mind that the bank bailout money was given without strings limiting its use to a provident purpose, and without any mandated "plan" for increasing liquidity, or for repayment. Those inculpated either by cupidity or stupidity, should be "retired" after presenting the "thievery" as an emergency undertaking. It was not. Is there anyone so unsophisticated as to believe that the what , hundreds or thousands of pages of laws could have been written overnight. That's logistically impossibe. The thieves knew exactly what their scam was, and the non -existent "emergency" declaration was used to stampede the public into accepting it. Thievery. Scam. Lies and deceit.
