Serious question.

[weaklingrecords]

Can anyone explain in tiny little words that I am able to comprehend why it is that the auto industry is getting the big phat finger from the Feds while the banking industry, the airline industry, the insurance industry, and the mortgage industry all got ridiculously sweet handouts? I mean, if the federal government is going to take over

Comments

[pixidala]

I'm not an expert, but I'll try

[i_am_vidoq]

I thought this was also a good article in the WSJ (my employers get the NY Times, Washington Post, and WSJ at work so lucky me):

Detroit's Small Car Discount

[somedisco]

yes i would say it's to do with precedents and how the banks are linked, the govt. is invested etc

Here's one posible reply

[seaves]

BERNERO: Lansing Mayor Virg Bernero, who returned from testifying in favor of the loans in Washington D.C. on Tuesday, said that his message got a chilly reception in Congress.

Although he’s hopeful that some sort of loan package will come together soon, giving it a 50-50 chance as of mid-week, Mr. Bernero said the sticking points remain that some Republicans want to “punish” the union by sending the auto industry into bankruptcy and don’t want to give money to their perceived enemies, while others are “genuinely” concerned that the Big Three isn’t financially viable in the long term.

“Some leaders are concerned that if we give them money now, they’ll be back at the trough in a few months,” he said.

Regardless of the obstacles, Mr. Bernero said he plans on putting tremendous pressure on Congress to ap-prove the loans before it’s too late for Michigan’s economy.

“The most important thing we can do in government right now is preserve the auto industry,” he said.

[i_am_vidoq]

How it plays out here.