Bail me out!

A Reuters report that US Automakers are seeking $25 billion in federal loans shows that plunder, or the attempt to plunder, is functioning quite well in the so called free market economy of the United States.

Why is General Motors still paying one dollar per share in dividends when it owes 40 billion dollars and has only 20 billion dollars in cash?

The yield on a General Motors Corp bond maturing in 2011 is 30% in the open market! Why should the taxpayer be required to bail out such bad debt. They shouldn't, but the holders of these bonds have political clout.

If there are so many caring humanitarians who support bailing out General Motors, there is nothing stopping them from buying a General Motors product, or simply making a donation to the big three automakers.

The three American automakers are asking for below market rate loans, according to the news story. The automakers want to borrow money from the American taxpayer and pay interest of only 4.5%.

Why should the taxpayer support bad business. These businesses have been managed poorly and the labor unions have extracted money from the corporation that was not available.

The automakers, unions, shareholders, and creditors will probably get their loans. All of the big three auto dealerships and their employees throughout the US will be lobbying their congressional representative for the loans. Vendors who are subcontractors to the auto industry will be lobbying for the plunder. Local governments who want to keep their dealerships in business will lobby.

The Marxist and socialist cannot help themselves. They consistently reward bad behavior. It is a myth that the US defeated Marxism in the cold war. Marxism cannot be defeated. It is a disease that cannot be eradicated. It is caused by the human desire to live a life without pain and suffering. They want a Heaven here on earth. They do not want to wait for the Heaven that is promised after death. The Heaven they seek here on earth is just as mythical as the one they seek after death.

In a letter to U.S. Senate Majority Leader Harry Reid and House of Representatives Speaker Nancy Pelosi, Michigan congressmen sought up to $25 billion in low-interest credit for U.S. automakers and parts suppliers from the federal government."This incentive program will make it more economically feasible for U.S. auto manufacturers and part suppliers to retool their facilities by providing low-interest credit," said the letter, dated Aug. 1."The federal government must be a strong partner in the investment in the advanced technologies," the letter said.

Notice the use of the usual word, "investment" as a soothing word. Nothing about the hidden taxes of printing money and inflation from this policy. And more soothing words, "advanced technologies". These Marxist con men and control freaks cannot imagine any technology since the stone axe having been invented without a government. They are too embarrassed to mention that the Wright Brothers invented the airplane with a few dollars of their own money, while the government's partner, Samuel Pierpont Langley, with a $50,000 federal grant, failed. http://lighterthanair.net/langley.htm

No! The federal government must not be a partner to business. That is fascism. That partnership is a scam to rip off the taxpayers and enhance the power of those at the top. It goes against the free market capitalism that the same leaders so proudly boast as they say the Pledge of Allegiance, and sing the National Anthem, and say God bless America!

These government control freaks have a need for more than fifteen minutes of fame. Their egos are like those of preachers and actors who need a lifetime of fame. The politicians have a constant harangue about how important THEY are, and that we should continue to pay them to do things that need not be done in the first place.

Part of the request is for the Federal Government to be allowed to NOT collect any payments during the first 5 years of the loan.

If the government can bail out big companies, why can't they bail out some small company guy who has a few employees? Well, they can, but they won't, and they shouldn't, bail out either the large or the small business. It has nothing to do with merit. It has to do with who has the votes. A small business owner has one vote. The big three auto companies have enough votes from those who stand to lose something that they can demand congress pass a law, and use force if necessary, to force the consumers into a business arrangement that is not good for the consumer. The mob is at work, right before our eyes.

America, the home of the free and the land brave will soon be known as the "Bail me Out" country.

Charles Tolleson