All I want for Christmas is my Bailout, Rescue Bill and Bridge Loan.

I am sick and tired of hearing about all these companies who are wanting a Bailout, Rescue Bill or Bridge Loan. The big three auto makers come to mind. For many requesting government funding, including the big 3, the basis of their ignorant argument is that, they are simply to big to fail. It would be disastrous to our national economy because they have so many vendors and business partners that could go under with them. Granted, yes, many would perish to the economic devil of bankruptcy which is a reflection of their own poor decision making, ie….high legacy cost, poor quality, inability to compete effectively with it’s competition and lack of consumer confidence and lack of desire in their product but, what business could make money with these factors against them, just to name a few? So, instead of proceeding with bankruptcy and restructuring so that they can come out lean, mean, fighting machines, they want to run to Uncle Sam for a Bailout, Rescue Bill or Bridge Loan, which by the way, they can’t get from a BANK because the banks are smart enough to look at them and say, “No way Jose”. This Bailout, Rescue Bill or Bridge Loan does nothing to make them restructure, it just keeps them floating so they can get through the economic storm. Back to the argument at hand, “We are too big to fail, our failure would worsen the economic downturn the economy is going through.” Well, bah hum bug….I say. This is like putting a band aid on a compound fracture, only short of a reset….it isn’t going to work. Now, with that being said, let’s talk about the largest part of the US economy that failed and never asked for a Bailout, Rescue Bill or Bridge Loan and that is the housing industry. I don’t remember some housing executive setting in front of a panel of Senators asking for money to help Realtors, builders, nail gun manufacturers, steel toe boot makers, office equipment retailers, and any and all other effected industries when the housing bubble busted. No instead we got inquiry hearings as to why Fannie Mae and Freddie Mac failed. We got no relief….and, I mean no relief for struggling homeowners, we got a black eye and bad reputation for “allowing” this to happen. We are looked upon as the creator of our own demise yet, we are the largest, by far, part of this countries economy and yet, where is our Bailout, Rescue Bill or Bridge Loan? WHERE IS IT? We didn’t get anything because we were too big to help! So, I dare anyone to bring to me a educated argument as to why we should bailout the Big 3, or anyone else for that matter, before we start bailing out the homeowners and the housing industry. How many partner business’s failed or had to lay people off when we were struggling. Think of all the Home Builders, Home Inspectors, Home Appraisers, Home Lenders, Property Managers, Brokerages, Realtors, Plumbers, Electricians, Roofers, Construction Manufacturers, Office Supply companies and whoever else failed because we didn’t get a Bailout, Rescue Bill or Bridge Loan. More importantly……..THINK OF ALL THE HOMEOWNERS THAT ARE STILL WAITING. Maybe if we put all the homeowners in private jets and send them up to Washington to stay in fancy swanky hotels and then dress them up in thousand dollar suits with exotic thousand dollar brief cases, then they might be able to get a Bailout, Rescue Bill or Bridge Loan. Like I said earlier, maybe we are just too big to help.

You need to be a member of REO Pro Network to add comments!

Join REO Pro Network

Comments

Susan Paige December 28, 2008 at 5:27am

Wow, Jesse, you are mad! I have to agree with you. I don't know what the answer is or was in regards to the " big 3" My fear is since the gov't bends to those who cry loo9udest then who will be next? IN the mean time budgets are being cut and our children are missing out in their rights to a well rounded education, public services are being cut, retail stores are loosing, people are loosing their jobs, homes, vehicles. Pets are being found new homes or being moved to shelters due to the moves some have to make or because the cost of care is more than one can afford. There are all sectors being affected. Where to draw the line.
JMHO sorry for the rant.
Craig Alexander December 27, 2008 at 7:33am

I am so tired of all the whining and crying! I used to say if all we do is sit around and look at one another, whining, crying and being negative nothing good will happen. Well, low and behold our government has just proven me wrong again! Maybe if we all sit around now and whine, cry and being Negative Neds & Nellies all day the government will step in so we can get a big bonus and go on fancy office trips? I THINK NOT! Maybe it is time we all get on the phone or WRITE A LETTER - NO EMAILS to our congressmen, senators and the President & President-Elect!
SusanM December 19, 2008 at 12:35pm

Jesse, soon it may be the USS. United States of Socialism. I guess people out there don't understand what capitalism and freedom means. Sometimes businesses go under! It should be survival of the fittest, but no, everyone wants a bailout. No one wants to take responsibility. Its sad. Looks like GM and Chrysler got a chunk of TARP today.

This reply was deleted.