politicsplace

President George W. Bush approved an emergency bailout of the automobile industry in the United States of America. I do not think this was a good idea because he should have left this up to Congress. The bailout money total so far- 17.4 billion dollars. The money is rescue loans, I seriously doubt if the loans will actually ever be paid back. I mean would you give 17.4 billion dollars to companies that are on the brink of bankruptcy and have huge losses? This is called a credit risk, every day Americans would never even get one thousand dollars in loan money if they had horrible credit and had no money. There needs to be a lot of oversight done to make sure that the money is properly distributed and that executives are not using the money for reckless reasons like giving themselves huge salaries, raises, and perks. I hope that this bailout can help the automobile industry survive. I doubt that they will actually manufacture more alternative fueled cars.Hopefully,the employees will not have to lose too many wages, many plants have shut down for the holidays.

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