Should the U.S. government bail out American automakers?

Monday 06th April, 01:00 AM JST

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OssanAmerica at 05:10 AM JST - 7th April

I have yet to hear a satisfactory explanation as to why we taxpayers have to bailout the auto makers. I've heard politicians saying how it's critical for our economy etc, but in truth I consider industries like Banking, Insurance, Energy, Agriculture, Heavy Industry to be far more crucial to our economy. We would be very hard put without any of those industries. But what if US automakers vanished? How many countries in the world are in dire straights simply because they don't have a domestic auto industry? Just about everyone I know prefers foreign, or US made foreign brand cars anyway. If we need them just to build our military vehicles fine, let them specialize in only that. Cause they sure can't compete making cars for the American consumer.
DXXJP at 06:07 AM JST - 7th April

I dont like it its not fair, if my business was going down the tubes I would have to file bankruptcy to keep it going or find a way to protect my personal assets. I know were playing with a lot of peoples lives, but remember it was no skin off these guys teeth when they outsourced and cut staff before.

If it comes down to the taxpayer keeping these beasts alive then they should be given a credit to use towards a purchase of a new car. Remember the taxpayer will now be an investor by proxy. I think they should have discounts based on their tax bracket or even government sponsored loans to help in purchase. With this then I think it can spur sales and everybody will have some sort of fairness from this.
JoeBigs at 06:55 AM JST - 7th April

I did not vote because there was not a third option, "maybe".

The maybe is, have they met all the requirements of congress? If they have not then get our money back and split them up in bankruptcy court.

If they have a plan and they have shown us that they can turn it around, then by all means let us invest in them.
Wakarimasen at 09:33 AM JST - 7th April

If they can't make cars people want to buy for the price then they should fail.
mechadamuramu at 01:56 PM JST - 7th April

In short, I had to vote Yes because without a strong automotive base in a country it is a serious national defense weakness. There is no way to cheaply manufacture similar goods on such massive scales without it, and in times of total war there would be no way to 'flex' the auto industry to other defense measures
mechadamuramu at 01:56 PM JST - 7th April

But in general, no they shouldn't get anything. Its kind of a situation like some banks being "too big to fail". Hopefully this new regulation will fix this.
nisegaijin at 10:55 AM JST - 8th April

Don´t worry, the great engineers Nancy Pelosi and Barney Frank will design the perfect car that everyone wants to buy.

this cracked me up. We have the new Obama Lada on the way.

Bottom line: bad businesses should fail. There is absolutely no excuse for rewarding bad decisions, especially when you punish the right decisions.

Let them all fail. It will be a bargain for investors who would step in and re-create new successful companies.
cow76 at 12:11 PM JST - 8th April

Also, how do you see how people voted without actually voting yourself? This issue can't be boiled down to a simple yes/no, conditions apply.
jessssicaaa at 08:18 PM JST - 8th April

Should the U.S. government bail out American automakers?

No. ;]
Sarge at 08:27 PM JST - 8th April

I agree with jess.
Nessie at 08:36 PM JST - 8th April

Great one here about a guy who tried to buy a Jeep with cash in hand but had trouble wading through the deceptive marketing BS from Chrysler and it's sales stooges.

http://consumerist.com/5162727/jeep-incapable-of-selling-to-man-with-24000-in-cash
timorborder at 11:04 PM JST - 8th April

Why note? Everybody else is doing it. Japan is talking about subsidies to help new car buyers (and support the local car industry), Germany is doing something similar. Why not the US? The government should just print more greenbacks (or outsource the work to Pyongyang who I believe do a very nice line in counterfeit US$100). When bailing out the car makers, however, the luddites that currently run these companies should be put out to pasture.
Sarge at 08:00 AM JST - 9th April

Nessie - Thanks for one of the funniest stories I have ever read! Hee hee!
Pump24 at 11:27 PM JST - 9th April

I wish someone would have bailed me out when I bought my Dodge. The government can't come running when every business overpays their CEO's and make's marginal products.
Jigg88 at 02:51 PM JST - 12th April

Sure, bail them out. I think the top execs should receive bonuses too for doing such a fine job. They deserve lavish vacations and fancy dining for manufacturing wonderful, quality vehicles that we all love and can depend on.