Why is it OK to bailout Citi, but not auto companies?

Riddil · 11-24-2008, 08:28 PM

First off, I'm against all bail-outs. I think they're a sham.

But I don't understand why it's so easy to drop 100's of billions on Citi, but it's OMIGOSH out of the question to give 25 billion to the auto industry?

I just don't see the logic. The only defense I've heard is that the auto industry has poor leadership and strategic planning. Well... uh... why can't the same be said for these financial firms that torpedoed the world economy? I think that's a little worse that what the auto industry did. They only destroyed their own company, not the global markets.

Admittedly I've been out of the country for a few years, so maybe I'm not totally up to speed with current events, and the reasoning behind them.

But can someone... please... explain this to me?

11-24-2008, 08:28 PM	#1
Riddil Management Consultant Join Date: Aug 2002 Posts: 165	Why is it OK to bailout Citi, but not auto companies? First off, I'm against all bail-outs. I think they're a sham. But I don't understand why it's so easy to drop 100's of billions on Citi, but it's OMIGOSH out of the question to give 25 billion to the auto industry? I just don't see the logic. The only defense I've heard is that the auto industry has poor leadership and strategic planning. Well... uh... why can't the same be said for these financial firms that torpedoed the world economy? I think that's a little worse that what the auto industry did. They only destroyed their own company, not the global markets. Admittedly I've been out of the country for a few years, so maybe I'm not totally up to speed with current events, and the reasoning behind them. But can someone... please... explain this to me? __________________ He who dares, wins, my son. He who dares! - SAS Boredom: the desire for desires. - Tolstoy

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