Perspective on potential Big Three bailout plan from a former GM employee
Posted by Liberty on November 18, 2008
This is an interesting editorial from Lori Stillwagon Roman, president of RegularFolksUnited.com. She worked her way through college at a Buick plant and moved on to other positions within GM through the course of her career. She’s opposed to the Big Three bailout currently under consideration in Congress. She makes the case that government interference and the expense and inefficiency of union labor have contributed to the crisis that the Big Three are in now.
“First, I believe that sending the government to bail out the auto industry or an industry at this time is like sending an arsonist to put out a fire. The government is partially to blame for the problem with the auto industry.
The government created the credit crisis by forcing lenders to make bad loans and the resulting credit crunch made it difficult to sell cars. Democrats in Congress (even some from Michigan) are responsible for blocking domestic oil production in the United States which has driven up gas prices and sent our wealth and potential American jobs to the ‘bad guys’.
One would think that since the government created the crisis, they should fix it, right? No. They should STOP messing with the markets, not mess with them more! They should let lenders make prudent loans and let energy producers produce energy and they should let the automakers get out of this mess without government help or interference. They should not send folks with gasoline to put out a fire. Congress doesn’t just want to ‘bail out’ the Detroit Three, they want to add on their own restrictions to make Detroit ‘green.'”