Please don't support bailout of US automakers
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opinion
On behalf of the citizens and taxpayers you represent, I urge you to ensure that neither GM, Chrysler or Ford receive any "bailout funding" or "bridge loans" to keep them solvent for any period of time. And I hope that you will put forth that under no circumstances is it appropriate for any of the $700B allocated to the financial services industry to be re-directed to the auto industry - the issues in that sector are obviously still far from resolved.
Companies that are able to profitably deliver innovative and useful products year after year have earned the privilege to continue operations. Those that aren't must bear the full consequence of their failure. This is a foundational principle of the capitalist ideals upon which our great country has long prospered - let the free market dictate which products and companies prosper and which fail.
If any taxpayer money is to be allocated to the auto industry, I propose that it be to re-train and re-deploy the employees of GM, Chrysler and Ford. Perhaps there will be jobs with radically restructured versions of GM, Chrysler and Ford, or their foreign-owned competitors operating in the US. Or perhaps there are other companies that are taking fresh approaches to addressing the world's transportation demands of tomorrow. Or perhaps there are other just blossoming industries where taxpayer funding could help spur creation of new companies and jobs and help the US (re)establish a global economic leadership position that will carry us the next 100 years and beyond.
It is certainly a difficult situation to assess, but surely we should not reward GM, Chrysler and Ford for their continued failure.
Thank you for your efforts and hopefully your support in this important matter.
Regards, Jon
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