The very people who created the now United States of a Socialist America (USSA) through their kleptocratic, greed-based formula, which was built upon their recipe of political favors and revolving door politics, while throwing government regulation, accountability, transparency and any degree of responsibility to middle America out of the mixing bowl as the economy of America went crashing upon the Wall (Street). (By the way, the term, "Side Street" to further describe the adjoining Main Street, but not quite on it, was first used here on this blogspot, and is now being used by those appearing on the public airwaves!!! You heard it first on Eye on Washington.)
The gall of such Regressive political mobsters, who, no doubt, took their "driving" lessons from another wiseguy-Rod "the Hose" Blagojevich, the drowning, yet King of Hairdo, a place very few go for fear they may never return looking the same as when they entered, and governor of Illinois. Rod, you need to whack that do!
What is left to say about America's top three's executive industrial thieves, who were paid in the tens of millions of dollars per year, along with big bonuses, opulent expense accounts, huge perks, and other luxurious compensation packages filling their Christmas stockings year after year after year. The Regressives had nothing to say about this over the last 30 years, but hated the idea of working union members earning a good salary in order to float the economy. The auto industry has been 4% of our GDP. The financial industry was around 23% of our GDP, but now is virtually zero.
We have now learned it's working Americans who pay the way for the nation, and not the top-tier rich. If this were so, then why aren't they carrying the economy during this credit freeze? Then why are they selling off their diamonds, extravagant second and third homes, and cars and yachts? It is because without a financially stable, secure and well paid working middle class America, there is NO economy!! It disappears. And, without an industrial and manufacturing economy, which is able to export products made by highly skilled, and educated workers, there is NO economy. If all there is is a financial, and service economy, there still is NO economy that is sustainable, viable, and exportable. It is not the CEO of G.M, Mr. Wagoner, and his uber-rich kleptocrats who keep the economy moving, but the workers in the plant who do so.
A bridge loan of some sort needs to be presented to the CEOs, along with hard-hitting contingencies. For example, downsizing the number of car models and makes, sending big SUVs to the bone yard, ending the cash delivery system which has enriched the CEOs and top-tier executives, and replacement of the CEOs, who made the decisions that killed their companies; and not to forget an EV-1-like affordable replacement; or, the government should consider "nationalizing" G.M., and Chrysler, since they want some economic gravy poured over their burnt-up industrial offerings. Take them over, restructure, and merge the two companies into one quality-driven and lean operation, and then, offer a lifetime warranty on specific models, such as the Aveo, Malibu, Vibe, and Caliper for new car buyers. By doing so, America might be able to begin taking market share away from the foreign car companies, which would, in turn, lower the trade deficit. Once this was done, then sell the new and revamped Car Corporation of America to the highest bidder, with a guarantee that the UAW would maintain a 49 or 50% ownership stake in the company in exchange for a leaner contract, which would be negotiated and in place for a 5-6 year period of time. It seems like it could work, except for the Regressive Party's insurgency power plays.
But, many of us know that the Regressive Party wants a steep and prolonged recession so their Bankstanista pals can buy up the remaining hard assets once the economic meltdown cools off and what remains standing can be bought up on the cheap. The Regressive's dirty little fingers have been kept warm by the Bankstanista's own hedge and private equity fund groups that offer safe protection from those finger whacking poor, down-trodden, and economically damaged constituents, who just might send them walking on the next election day.
So what might the Regressives do? They could dump the entire auto industry bail-out/bridge loan plan into the lap of Mr. Accident-Pants, their exiting boy party leader--President "Two Shoe-Duck and Cover-What's His Beef" Bush. It is now he, that will lead the nation closer to the socialistic state that the free-market, neo-liberal, freedom-fry fighting Regressive foot soldiers despised in the open, but embraced behind their office doors.
But how it has changed. The Regressives now fly the flag of Ronald Reagan and Herbert Hoover high in the cloudy sky as they begin to retreat in their waning days of power only to dream of amber waves of grain and colorful majesty, while sleeping in their styes, hoping to return, once again, for a victorious win sometime within the next decade, or two. By then, most will be gone only to reminisce over their glory days when money could be created out of thin air and life in the Hamptons was grand.
Merry Christmas to all and to all a good night!
Thanks for reading this blogspot, which has over 200 pages of opinion written over the past year. We appreciate your time and interest, and hope you continue to return. Thank you all. Jerry and Carl.