While I hate to see anyone lose their jobs, I must admit I was happy to see that Congress has denied American automakers’ plea for a bailout. And it’s not just because the CEOs flew to DC in luxury jets. It’s because the companies have ignored clear warnings that gas guzzlers were on the way out years ago. They capitalized on American consumer largesse and made the nation think it needed big expensive trucks like the Hummer.
In other words, GM and company created this mess and they should be responsible for its collapse. When you continue to produce pointlessly enormous trucks when the country is at war in the Mideast, where we get 90% of our oil from, you deserve to lose. When you consciously disregard the growing preferences for smaller, fuel-efficient cars, you deserve to lose. And that is what is happening.
November 20th, 2008 at 10:57 am
my thoughts exactly. except the banks all brought their demise upon themselves as well, and the government still decided to bail them out, so i’m not sure i have a lot of hope for this moment of good sense to last very long.