The Auto Bailout North America Failed to Help America. Corporations Walked Away With a Ton of Taxpayer Money and the US Govt’ Moved a Step Closer to Fascism.

In late March, the auto bailout North America saved Chrysler and General Motors (GM).

They were given restructuring deadlines as one of the conditions of the bailout. Unfortunately, the restructuring will likely be insufficient.

The White House left most of the car company’s top executives in place, so the auto manufacturers may very well run their companies into the ground again.

These ex cutives are responsible for their company’s initial financial failure. There are no real radical suggestions to put the companies in function of reactivating the economy.

There are criticisms as well on uncompetitive labor contracting which smells suspiciously like an anti-union proposal from the beltway.

These uncreative criticisms from the economic team of bankers in the White House are, nevertheless, a stark contrast to the same groups attitude of continuing the Wall Street bailout more as handouts than anything else.

The United Auto Workers union (UAW) has been forced into givebacks to the bosses while the big boys on Wall Street continue to receive their lucrative salaries far removed from any factory floor.

Just a superficial comparison demonstrates the White House double standard toward Main Street, Detroit, where workers must tighten their belts and Wall Street, New York, where bankers should not have salary limits since the market will dictate the best according to the myopic Obama White House team.

Both bailouts provide opportunities for America that seem to be lost or just ignored in Washington, where the scene is being set for business as usual rather than economic development to confront the worsening crisis for American families.

Restructuring for Strategic Development Not Discussed

For the auto bailout North America plan, no one is looking to make the companies more useful.

The same cars that do not compete against Asian and European vehicles just will not move the companies ahead.

The US should put the companies under receivership and restructure the priorities with eyes on the future and not on the past.

Cars should be developed in order to promote cleaner fuels to build a sustainable country and keep American jobs.

Cutting Jobs Means Selling Less Cars

The auto bailout North America is not going to help the country without strong regulation. Left to themselves these companies will take the money overseas to take advantage of cheaper labor.

The US already wants the companies to fire tens of thousands of workers, not a measure that will help the economy. With less jobs, less people will be able to buy cars.

The bailout with the conditions the government is putting on funds will not resolve the problem.

Neither will the Wall Street bailout do anything other than allow for big corporations to continue making big money for the big guys.

No Bailout for Americans in Need

Auto bailout North America should come with strings to keep the money and jobs in the United States. This is not on the table.

All indications from the auto bailout, the Wall Street bailout and other measures is that the Obama Administration is only doing more of the same to keep profits flowing to the wealthy.

This will work to keep paying fat salaries for a few more months but its still a dead end for the American economy.

Meanwhile, unemployment reached 8.5% in March, a 26 year high. Americans are sinking into debt and poverty is on the rise.

While the big boys get bailed out not even a life preserver can be seen for the working and poor whose tax dollars are footing the bill for these band aid measures that are predestined to failure.