At least they got something right.
So far congress has rejected bailing out the Auto Industry. I hope they continue to do this. The mayor of Lansing, Michigan called into the local morning show on one of the talk radio stations today and was going on about how it was a double standard to bailout Wall Street but not the
United Auto Workers Union automobile industry. I still think we shouldn’t have bailed out Wall Street either, but that’s another argument. The mayor also argued that it wasn’t the auto manufacturers fault but unfair trade agreements that put them in this position. Then he tried to say that it was a loss for American workers to not have this bailout. I guess he doesn’t realize that Toyota, and Hyundai, and BMW and a lot of the “import” auto manufacturers make cars in the US, too. They just do it in non-union states, therefore cutting their costs.
That’s all I have on that for today, giving you guys a short one.
Update – Just heard that Rep. Barney Frank (D, Mass.) has admitted that the bailout is about the workers, not the industry. Also, Boortz had some interesting things to say about the bailout, if you’re interested.