The money is coming from…well, us …a blog response.

In my classmates blog “Where is the money coming from” ryt discusses the major issues she, like many other Americans, have with this excessive “bailout” scenario. No, neither the agriculture nor the tech industry received a bailout when they were suffering all those years ago. Of course neither one of those industries had a crony of their own in the presidential cabinet. Henry Paulson didn’t really have the best interest of this country in mind when he suggested a *gasp* $700 billion bailout for the financial industry. He was thinking of the poor, poor CEO’s of these mutli-million dollar companies who would not be receiving their ludicrous bonuses each year. The auto industry simply followed along on their coat tails. It’s almost like watching children begging for help from their parents, “You gave him that much what about me?” And what about the auto industry? They’re requests are meager in comparison to what Paulson’s buddies were asking for. I mean come on what’s $36 billion in comparison to $700 billion, why it’s chump change. But, of course asking for my and your tax dollars does not mean they have to give up life’s little luxuries like private jets. I mean everyone has one of those, right? How embarrassing that these men had to have this ridiculous blunder pointed out to them by Congress while they sat there with a stone face and asked for money.
I think that the when the financial bailout was agreed on it set a horrible precedent for industries of this country. Because, not only did the financial industry want a hand out they wanted it without any strings attached, meaning no government involvement. The auto industry should have kept up with the times and begun making fuel efficient cars about the same time the overseas auto makers were. But, of course the big money wasn’t in fuel efficient cars it was in huge 4x4 trucks and Hummers. Well, sometimes bad financial decisions lead to bad results, and sometimes that’s just a hard pill one needs to swallow.
I agree that President-elect Obama has his work quite cut out for him. I’ll be the first to admit that I’m a little concerned of the challenges he faces ahead of him. But, I’m also hopeful that with new blood come new ideas and a new start to changing the way this old game is played.