Quote:
Originally Posted by sperry
That said, the auto industry (and the banking industry for that matter) deserve to fail. Especially in the auto industry, the writing was on the wall... did they really think that people would continue to pay $50,000 for $15,000 trucks with leather seats? Even if there weren't the gas or environmental crises, none of the US manufacturers had anything in the pipeline simply for when the public got tired of SUVs.
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Preeeecisely. They have been taking huge advantage of the virtual money supply (credit), in combination with cheaper technology and lax international trade regs for decades! They have no-one to blame but themselves for cruising along with the windowshade on the dash pretending that it was going to last forever.....think of it as part of the long-term cost of doing business......businesses fail all the time because the owners can't think ahead, the BIG 3 need to join that party.
I am sick over the fact that our populace is so stupid to even consider the possibilty of .gov-sponsored bailouts.