Tuesday, September 30, 2008

Don't Forget About The Auto Bailout

A few weeks ago the Big 3 automakers sent lobbyists to the GOP convention to beg for money, and in all this excitement I didn't want you to forget about the little, $25,000,000,000 bailouts. Yes, Detroit learned a lesso from the airline industry - which for years has gotten deals like the ones being proposed to the banks now (privatize profits and socialize losses, as a Reason Magazine article put it; check here for some links to Ron Paul and the Libertarian Party's take on things).

It looks like the automakers' prostration has paid off, but at least their bailout package is just loans. Still, like many of us, a fixed-income widow Gloria Basile asks "Where's my bailout?"

1 comment:

mklasing said...

Tom: I am using the car bailout as my example. I am writing to my Senator, Jon Cornyn seeking a bailout of the following:
1. Student Loans from Law School
2. Elevated cholesterol from bad eating habits
3. My kids' college tuition fund--simply not big enough yet.

I'll have more later--I'll let you know how I do.