What the hell is all this nonsense about using part of the $700B bailout to send to the auto industry? The US Government shouldn’t be bailing out GM, Chrysler, or Ford. The bailout should come from the people who need these companies to succeed more than anybody else.
In other words, shouldn’t every OPEC country be chomping at the bit to bail these companies out? If I was K.A. up there, I’d already have more cash than I could spend. I’m looking for an investment, especially at the moment. Why not swoop in and not just bail them out, but buy every one of those companies outright. Then have them churn out SUVs at a frantic pace, and give out gasoline rebate deals with them for 5 years of gas at $1.99 a gallon?
The only downside I can think of was if relations become strained between the US and the Saudis, and the US seizes the companies as assets. But oh well, just shut the pipes and bleed every SUV owner dry at $6 a gallon until you recover your (minimal) equity you lost in the auto compaines. I guess it’s just easier to sit in the palace and watch the money come in.
I’m assuming this is a bad idea for reasons I’m not considering. If it happens to be a great idea, I’ll take this post down. I don’t want them getting any ideas.