Tuesday, February 17, 2009

UAW Bailout

General Motors and Chrysler will pick up the second installment of their federal loans today, even as theTreasury Department begins to review the two automakers' restructuring plans, also to be submitted today. The plans are supposed to outline how they intend to again become viable and repay the government loans.

The stock market has already taken a plunge, betting that this bailout money won't really help.

As I've stated before, the Big Three Bailouts are really bailouts of the Auto Workers Unions more than the companies.  If the companies were allowed to go into bankruptcy, they could REALLY restructure the way they do things and have a chance to succeed.  As it is, it's only a matter of time before they come back with their hands out for more.

1 comments:

Chuck February 17, 2009 at 9:31 PM  

They're asking for another $35 billion

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This blog is about my opinions and world view.  I am a conservative, evangelical Christian.  Generally speaking, if you post a comment, I'll allow you to express your view.  However, if you say something hateful, untruthful, or just generally something I don't like, I may remove it.

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