Well, it was only a matter of time. First, we bailed out Wall Street by giving them $700 billion, only to find out that AIG executives were going off to luxorious hot spots for retreats (how responsible…huh?).
Then, the Big 3 (a.k.a. Detroit’s finest, the auto industry) came to Washington seeking a bailout. Their response: “Uncle Sam, can I have a bailout too?” “It’s not fair that you gave to Wall Street, when we not only allowed the UAW Union Bosses to overrun everything and offering no innovation in terms of new vehicles.”
Gee, we are actually supposed to feel sorry for them, and Congress told them they would have to wait and come back with new ideas. Well, there’s only so much for that, as Congress will no doubt pull out America’s check book to write out a check for them, as President Bush and company will say, “We need to bailout the “heartbeat” of America, as they are our crown jewel.”
Now, as predicted, the credit card companies would be dragging their irresponsible blankets with their thumbs in their mouths to Uncle Sam and pouting as well. “Uncle Sam, I am about to die without your funding, do you think you can give me some money as well.” Now, President Bush and Congress will ensure they get some money too.
This is just the painting in the children’s book and the moral is that we cannot and should not keep bailing out companies who give money to those who cannot afford the loans, do not offer any chance of reform and who allow the UAW union bosses to dominate (a.k.a Detroit), and those who will not find ways to stay afloat themselves. If President Bush, President-elect Obama, and Congress continuously feels compelled to bailout every industry, America is headed to an even greater depression. The free markets can not keep up with this type of behavior.
What is it going to take for America to wake up? I guess when Wall Street collapses, we’ll all see the true meaning of this story. Until then, I am not laying down peacefully and watching things fall apart. It is time to wake up before it is too late. Call your Congressmen and Senators, demand that they stop bailing out the industries and allow the free market to restore the economy.