Auto Nation

The government does not want anyone to fail unless you are doing everything right. Then all they want is taxes so they can keep every other entity afloat. Do you give to charity? I do every time the government takes their cut of my pay. Now we may own a piece of the auto industry. Since we own the banking industry, it is only fitting that we also have a manufacturing arm. The unions could not live with bankruptcy, so the auto industry will now be owned by the government. I wonder if the unions remember the strike of the air traffic controllers? Probably not. And it probably does not matter since the Democrats were elected by the unions and are now in control.

Let's look ahead. I go to buy a car from Ford, GM or Chrysler and my loan is denied. I will immediately write my congressman and demand the car. After all, my tax dollars are funding the bailout and I (the taxpayer) now have a stake in the companies. If there is a problem with the car, call my congressman. I run out of gas, call my congressman. New tires, no problem. Need an oil change, no problem.

I do not understand. Bankruptcy was designed for what the auto industry is experiencing. But money talks...So they get the cash and immediately begin making campaign contributions as well as paying off union bosses. I do not have a problem with unions except those that advocate having thousands of people getting paid for doing nothing. Pensions are one thing, but paying workers to not work is not productive, it violates the spirit of free enterprise and shackles our nation to a non-competitive work force in a very competitive environment. Why is it so hard for a union worker to find a job in the non-union world? Why do they need the crutch? The concept sounds socialistic to me. I read a letter in the Houston Chronicle which laid out why unions' approach have ruined an industry's ability to be competitive. It is titled "A telling UAW story" by Roger Vaught: http://www.chron.com/disp/story.mpl/editorial/outlook/6145741.html

The unions and the federal government have built a welfare state. Now anytime an industry sneezes, the government proposes a bailout. Who will pay for this? I doubt it will ever actually be paid back. The government has paid off the wall street crooks and now is rewarding the auto industry with their payoff. I am surprised the dollar is still so strong. I wonder when all of our "loans" are going to be called by China. We may have to bail them out from us.

These times are scary. I think the government should look hard at what worked and did not work during the depression. But it seems that we did not learn from history and are doomed to repeat it.

Another week

Here we go again. At least we have a financial holiday this week. No stock market to worry about on Monday--It's Columbus day! Cool. Maybe Congress will come back in session and solve all our problems. Right.

Here we go again!

One more dive! The stock market fell again. Why? We spent our money on this bail out. For what? The stock market takes another swan dive and Congress now is investigating Lehman. WOW! How about the auditors? The 2007 audit report for Lehman -- Unqualified Opinion. I am studying the report. I guess it presented fairly their position. Hmmm.

Tired of Being Robbed - The First Post

This is my first post as a blogger.

I am pissed off. Congress just passed and the president signed the bill to steal away any chance we have at retirement. Our great grand kids cannot possibly pay this off. My outrage is just too many issues to detail. Where was Sarbanes Oxley? Where were the auditors? Who signed off on the financial statements in 2007 for Bear Stearns, Lehman Bros, AIG, et al.? Who applied their signature to the report that said "the above statements present fairly the financial condition" of any of the above mentioned entities? Why are they not in jail? It seems to me Congress, CPA's and the CEO's and officers of the entities should all be in jail. This is one time where I disagree with the concept we are innocent until proven guilty. Congress and these companies have put our country's economy at risk and should be tried for treason. Congressman Barney Frank should be at the top of the list. I pray he is not re-elected.

Why do the inept keep getting re-elected? There must be fraud involved. It is the only way. We see the Congressman in New Orleans get re-eletced after they found money in his freezer. We see Ted Kennedy and his following. The people in Massachusetts must be blind or cannot think of a good place for him, so they keep him in the Senate. Republicans and Democrats keep the money train going.

This Bailout just hit a nerve. When will it end? My 401K is in the tank. "Invest in the market" they said. "Over time it always out performs savings." Over time it has sucked big time. I have no hope of collecting Social Security. I am pissed off.

"Lets give all of my money to the Wall Street firms so they can keep going so our economy won't fail." I am at the point where I say let them and it fail. Someone tell me I am wrong. There is no oversight of the money. They added another $100 billion in pork spending. And I will have auditors asking me why I did something and by whose authority. Please tell me there is a light at the end of this tunnel.

These big firms get a pass from the CPA's and Congress and the smaller firms have to comply with all the "laws and regulations". This must not go forward without an inestigation. I will be glad to head the investigation and be paid millions of dollars to fly around the country and produce nothing. Let us get rid of everyone in Congress who voted for this bailout and vote to impeach every Senator who is not up for re-election.

I hope to keep my thoughts going...