So. When Wall Street bungles royally, they get bailed out to the tune of $700 billion. I didn't really have a problem with that; the alternative was the collapse of the worldwide financial system. Payback, which Wall Street's managers richly deserve, can wait.
But when Detroit's automakers, who directly and indirectly employ millions, stumble, the Republicans in Congress are unwilling to bail them out. Even though their dire straights are due partly to Wall Street's ineptitude. And Americans' demands for big, gas guzzling cars. While Detroit should have been prepared to offer fuel efficient cars, undoubtedly if they had, very few would have been buying. They'd have been accused of, uh, mismanagement.
Again, I don't agree with that placing of blame—you could argue they had a moral responsibility to offer fuel efficient autos even when the government and consumer demand didn't force them to, but that won't get you far in an Econ class.
To sum up, quickly, since I have to run, I think this stinks. Everyone who voted against the auto bailout bill ought to be sent to the unemployment line without supper.
