Results tagged “bailout” from York Common Cents

By now, I'm sure you've heard that President Bush has thrown both GM and Chrysler a lifeline in the form of a $17.4 million federal bailout.

A week ago, the U.S. Senate rejected a similar bailout because it wanted more concessions from the auto workers union.

What Bush has done today is to tell the American people that the decisions made by their elected officials don't count for anything.

Even if members of the U.S. Senate took two months to haggle over an auto bailout and still reached the same decision it did last week, it wouldn't have mattered.

Bush would still have approved a bailout for an industry that has no hope of succeeding without the help of taxpayer money.

Also, are you going to buy a car from a company that begged for taxpayer money claiming that if it didn't get billions of dollars it go under within weeks?

I know I wouldn't. The next time I buy a car, I'm going with an import.

Now that the corporate welfare state has widened to include companies not in the financial sector - it's not if but when the Big 3 get their money - I'm writing the government to request assistance for an industry very important to my financial well-being.

Me.

So here is my letter:

The picture above shows the jerseys of a few players on Manchester United, a British soccer team, featuring a sponsorship by the failed AIG.

When the news of AIG's failure broke, a friend of mine and I were wondering whether AIG would continue to sponsor the team. We both agreed it didn't seem like the company should be allowed to spend its money on sponsorships when it is being bailed out by the U.S. government.

An Associated Press article had this to say about the situation:

"For now, it appears that the players of Manchester United will keep the American International Group name on their uniforms. A Manchester United spokesman said there have been no discussions about AIG buying out the deal, and there are no plans for changes to the uniform. A spokesman for the insurer, Joe Norton, said 'nothing has changed' with the deal."

Let me know what you think about AIG's continued sponsorship in the comments.

In case you missed it last night, here is President Bush's speech on the bailout.

Does what Bush said last night in anyway change or sway your opinion of the bailout?