Should We Use Recovered Auto Bailout Money To Save Detroit?

The Feds have thrown good money after bad a number of times. Recently, they threw billions of dollars at GM because it would "create jobs" and "fuel the economy." Basically, The Government borrowed a huge pile of money to cover massive corporate losses (and to give execs huge bonuses), and they gave the bill to US taxpayers. In other words, Joe Average took out a huge loan and gave the money to GM and Chrysler, for "the greater good."

Some will argue that it was a resounding success! The proof is their rhetoric on how bad it would have been, had we done otherwise. Then there are people who don't believe it's a good idea to give a liver transplant and free extended nursing care to a chronic alcoholic: Let him fix his own ailments himself by changing his ways, or die as a consequence of his thinking, decisions, and actions.

There is no right answer. It's just a matter of what you believe.

It is all about one big bailout.

You make foolish shortsighted mistakes and if you are big enough you get bailed out. If you are small then tough luck.

The people who live in Detroit can BAIL THEMSELVES out.

Why should a low-income family in Virginia be asked to fund the pension of a middle class fireman in Michigan?

Detroit needs to be restructured. The city itself probably needs to be broken up. Areas that are beyond resurrection should be demolished at once so they do not eat up tax money by forcing the city to pay for taking care of a neighborhood with one person living on each street. Areas that are still populated should comprise the new Detroit.

I don't know that it is lawful or possible, but that sure sounds like a good idea. A small core of a city. Give the rest away as parks, farmland, small hamlets. Like a frontier land grab. Land grabbers would assume all costs and risks.

Just have Obama sell Detroit to China in exchange for a trillion of those IOUs Walmart helped us send them. They can even import their people in and convert Detroit into a special administration zone of China's. They'd be payiing property tax and might even manufacture Walmart garbage in the US instead of China.

It's all part of President Jesus' plan of selling us out to his brother's masters in Beijing.

I agree with all of the statements so far, too many corporate people getting too much of the pie(bail out) the money should be spent on research and development so there company is the best, therefore more competitive.... then the money should be paid back to the corrupt banks at 0% interest, then the big three will become no1!

I agree with all of the statements so far, too many corporate people getting too much of the pie(bail out) the money should be spent on research and development so there company is the best, therefore more competitive.... then the money should be paid back to the corrupt banks at 0% interest, then the big three will become no1!