iht.com— The Treasury Department has turned down a request by General Motors for up to $10 billion to help finance the automaker's possible merger with Chrysler, according to people close to the discussions.
Nov 3, 2008View in Crawl 4
I have mixed emotions about this, while I would like to keep American automakers alive, I do not think the government should be stepping in to do so. In this end this is supposed to be a capitalistic system, so if the manufacturer can no longer produce a product on which it can make it profit (or at least cover short run costs) they should shut down. The last thing we need at this point is another government bailout, we are as close to socialism than we should be already.
While I agree with you about not bailing them out, I think it would also be productive to maybe give auto makers an incentive, almost like the vouchers we see for digital boxes for TV. Make it available for auto makers to buy new equipment to build cheaper, more fuel efficient vehicles once the markets will loan money again and that should help all of us, auto makers and consumers.
Closed AccountNov 3, 2008
I have mixed emotions about this, while I would like to keep American automakers alive, I do not think the government should be stepping in to do so. In this end this is supposed to be a capitalistic system, so if the manufacturer can no longer produce a product on which it can make it profit (or at least cover short run costs) they should shut down. The last thing we need at this point is another government bailout, we are as close to socialism than we should be already.
statik99Nov 3, 2008
While I agree with you about not bailing them out, I think it would also be productive to maybe give auto makers an incentive, almost like the vouchers we see for digital boxes for TV. Make it available for auto makers to buy new equipment to build cheaper, more fuel efficient vehicles once the markets will loan money again and that should help all of us, auto makers and consumers.
wonderchemistNov 3, 2008
With gas prices dropping SUV sales should go back up and help the US automakers.