[fabsroman]

Yeah, I'm the first to vote YES. I don't know the particulars of any bill that has been proposed, but if you think the economy is hurting right now, think how bad it will be after the Big 3 go belly up. It isn't just the executives, management, and the plant workers that will be losing their jobs, but how about all the dealers that will no longer be selling Fords? Most of these dealers are located next to other dealers, so it isn't like they can just start selling Toyota, Nissan, Honda, Hyundai, or whatever else. Essentially, Ford, GM, and Chrysler dealerships across the nation will be out of business. This means salespeople, mechanics, body men, etc. will be unemployed. If you think foreclosures are high now, and the stock market is in the tank right now, wait until after the Big 3 declare bankruptcy or go belly up.

Now, the flip side of the argument is that by giving them a bailout, the UAW is less likely to negotiate and it should. I honestly believe that some unions have long outlived their usefulness, and the UAW is one of them. I have no idea why the Big 3 hasn't moved away from union labor. None of the Japanese car makers that make cars in the US use union labor. The pension and health care is killing the Big 3. So, giving them a bailout and letting the UAW continue to bleed them dry is unwise. There would have to be some serious concessions made by management and the UAW before any bailout money is given to them.

Another thing to think about is that allowing the Big 3 to implode might mean a lot of retired workers from those 3 companies will lose retirement and health care benefits.

Simply put, those of us that have saved for years and years and been frugal with our spending, will be called upon to bail out the grasshoppers. Essentially, we are the ants in the story. The next thing I am waiting for is the homeowner mortgage bailout. Thought I saw it yesterday, but the Yahoo article was quickly changed to delete "loan principal balances will be reduced" to "principal payments will be deferred interest free for a length of time". I'm just waiting for the government to start paying off principal balances for homeowners that are upside down on their mortgages.

Sometimes, being frugal just doesn't pay, and I feel like I am getting kicked from every side in this economy.