What needs to be done to prevent another financial melt down?
Should the government take over the banks and the Big Three American auto makers? Is not this worse than welfare when three CEO's fly into Washington DC on three separate private jets and ask for $25,000,000,000.00 TWENTYFIVE BILLION DOLLARS? This is like black mail, is it not? If they fail, thousands and thousands more will lose their jobs, businesses, and homes, yet there is no guarantee that they can gain the car buyer trust and out sell Toyota Nissan, Honda or Volvo after they get this money. What needs to be done?
Asked By: KHill - 11/23/2008
Best Answer - Chosen by Asker
They need to get rid of the board of directors and all upper management. These clowns had no problem taking ludicrously high salaries justifying them when the market was on an up swing, as though by their making, Now that they have not positioned properly (indicates a lack of vision and poor strategic planning, yet... More
Answered By: DMG - 11/23/2008
Additional Answers (5)
Too late. Its here. What needs to be done is to re-ramp American industry. We've been consuming other countries' junk for too long. We need to start making things for ourselves again.
Answered By: krollohare2 - 11/23/2008
It's just reality. It will cost us many more times that to let the auto companies fail -- $23 billion in government pension insurance payments *alone.*
Answered By: Joshua H - 11/23/2008
I'll never tell.
Answered By: Aphex Twin - 11/23/2008
when government takes over businesses it owns them, picture Communist china, or the soviet union, or Cuba, that's a very unwise option... More
Answered By: Jimmy D - 11/23/2008
The solution is incredibly easy. It's so simple and straight forward that no Congressman will support it since they won't be able to make a buck off it. Let one of them fail. Right now GM is the biggest loser, so let them go out of business like they so rightfully deserve. Why is having a "Big Two" such a bad thing... More
Answered By: IgnoranceIsYou - 11/23/2008
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