An open letter to the triumvirate in Washington playing like Matchbox Cars with the government bailout of the auto industry…….
Dear President Obama, Treasury Secretary Geithner and NEC chief Lawrence Summers,
You have given billions to an industry that is being killed off from the inside, by a union virus that can’t see the forest for the trees, and you are letting it happen. I am a proud union card holder – hey, my WGA card is good for nothing except getting me into free movies during Oscar season but at least that’s something! The UAW, on the other hand, is holding firm to union contracts and practices that helped kill the very industry which made them so strong. More power to them. Use my tax dollars to help them suffocate the last breath of a once vibrant giant. Be my guest.
GM and all the other car manufacturers are even willing to foot the bill for folks who lose their jobs and can’t make their car payments…..they’ll pay up to nine month’s worth of payments up to $500 a month. OMG, $500 monthly car payments? What do they own, or should I say, what will I own when they default? A Jaguar XK? Oh no, that’s right, they’re owned by Ford which hasn’t accepted any of my money – at least not yet?
Now here’s the catch, this latest offer by GM is only good for people who lose their job through no fault of their own and who can qualify for unemployment benefits. Hmmmmmm, I’m a sole proprietor so I don’t even qualify if I default on my own car loan. That doesn’t seem right, does it? Others can default on HUGE car loans and then my money goes to bailing them out. Something’s wrong with this picture. Wall Street doesn’t like it either because GM’s battered stock dropped another 28% today.
I have the solution, my second one of this economic crisis and maybe this time you should listen to me. I first suggested that people should pay for things a reasonable value and let the market decide. Now I am suggesting that we can fix this global crisis by an international forgiveness of ALL debt. That’s right. We got into this mess together, so let’s get out of it together and stop making the working class pay for this financial roadkill. Let every creditor forgive every individual, corporate and national debt and let’s start over. Everyone will work a reasonable day for a reasonable wage and we will reboot the global economy together.
Hey, it beats anything coming out of Washington or that G20 meeting in London…..and from what I hear, you don’t have many friends there.
I can help. Call me, or better yet, send me a ticket with some of that bailout money. It’s my money, afterall, and I would like a first-class ticket to see Big Ben.