If We Bail out Citicorp, Why Not Bail Out GM, Too?

Bailouts are setting a wrong example

Bailouts for those who made bad business decisions would never send the right message. I have made a case against both Auto Bailout and Henry Paulson approach to financial crisis. You can read the articles in detail here:

Title: Henry Paulson's Approach is Bass Ackwards

http://commonsensetopics.blogspot.com/2008/11/henry-paulsons-approach-is-bass.html

Title: Big Three Auto Bailout is Wrong Solution

http://commonsensetopics.blogspot.com/2008/11/big-3-auto-bailout-will-not-work.html

No one is talking about the tens of MILLIONS of folk who--in good faith--bought GM cars over the past three or four years. Those cars, trucks, and SUVs will loose thousands to tens of thousands of dollars in value if GM is not bailed out. They wont be able to sell them, and the number of lawsuits revolving around warranty claims will be almost limitless.

Imagine being underwater on your house AND your car: yikes!

WOULD IT HELP IF EVREYBODY CAPABLE BUY 100 STOCK IN GM OR FORD LEAVE IT IN THERE FOR A WHILE ,SO THE COMPANY CEN USE THE CASH. AT THIS LOW PRICE WE THE PEOPLE COULD LEND THEM AND ELP EACHOTHER.

ROZALIA B

Unless car companies in chapter 11 can stiff all their creditors and unionized employees, yet somehow keep them and their dealers and customers, the bankruptcies will convert to Chapter 7 liquidation. Then your warranties are no good, millions of workers are dumped on the market to lower ALL worker wages, AND YOU WILL BE FORCED TO BUY A FOREIGN CAR NEXT TIME.

Patriots of America, where art thou? Are you nuts? You want to keep Citigroup and applaud your government for doing so, and you want to cave in the U.S. auto industry?