taxpayers WILL fund the bailout no matter what. Bend over and kiss your butt goodbye.My lips already ache from extended puckering. I kissed one cheek when I saw how much my retirement health VEBA that was supposed to take me to 65 and to Medicare had tanked. While I was "down there," I planted another one on the cheek representing the 6-figure loss to a portfolio that received a lot of conservative tweaking after hours of wrenching research and thought.I would like to agree with the astute Wendy: let the jerks go down and spare us more bailing. That's what my head tells me. My heart tells me a different story that I will admit is biased by the fact there's a GM metal stamping plant in my town that employs 1450 (once 2100). Much of what they produce goes 50 miles up the interstate to a huge GM truck plant in Ft. Wayne, IN. If plants are closed based on the demand for their parts, our factory is a good candidate for closure. Our town might deal with the loss of GM's tax revenue by selling ghost town tickets to tourists, for that is what this town will become.If one is to believe ww.JoeTheAutoworker.com , we're looking at these consequences, among others:• 3 million lost jobs; 2.5 million to follow over the next two years• The cost to local, state, and federal governments could reach $156.4 billion over three years in lost taxes, and unemployment and health care assistance• pension and health care benefits cut for 1 million retirees, spouses and dependents• thousands of other businesses -- dealers, suppliers and others -- would be threatened• negative impact on the entire economy, making the current recession much worse533K jobs were lost in November. Unemployment is becoming a household word as it nears 7%. There's all the rest of the grisly travail that I'll omit because you know it already. I am just too nervous that I can't anticipate the full trickle-down impact if C and GM aren't at least given the chance to right their ships. I am too nervous that those lengthy tentacles--added to the current mess--will compound things unimanageably.Finally, and most nervously of all, is my doubt that millions of those opposed to the bail may not realize it either.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra