Reading the Drudge Report, my eye was caught by three related stories. "Man Says Wife Was Accidentally Shot During Sex..." This is the seedy story of an abusive, love-hate relationship. This was not the first violence suffered by the wife, Carolyn suffered at the hands of her husband, Tim. On another occasion, Tim spent 60 days in jail and attended anger management classes for beating his wife. According to the 911 call Tim said, "We were having sex, and it [the gun] went off." Doggone gun! It just went off when an otherwise loving couple were engaged in an act of congress.
The second article informed me of the consensual nature of the relationship, "The Big Three Drowning in Red, But Still Give Millions to Politicians..." Fifty million in lobbying, and another $15 in campaign contributions by those close to the industry--no surprise here. You didn't think that the our elected representatives would give away $34 billion for nothing did you?
Finally, I read, "Driving For Dollars: GM Chief Hits Road To DC" informing me that the relationship was love-hate. GM's CEO, who had the audacity to fly to DC in a corporate jet and ask for bailout money in November was being humiliated into driving in a hybrid car in December. Senator Richard Shelby, a Republican Senator from Alabama drew chuckles from the Banking Committee hearing room when he took time off from judiciously guarding taxpayer money to quip, "I wonder if they're going to drive back?" I'll bet ya that Senator Shelby wishes he had access to a fleet of Congressional jets. Congress keeps telling Detroit how to build cars that we want to buy; it's so good of them, the auto makers bleeding bottom lines were not sufficient warning. Cafe standards, law favoring unions, quota protection--love-hate. Doggone bankruptcy! It just goes off when otherwise well managed businesses and Congress were otherwise engaged in the people's business.
You can only push an analogy so far. An Act of Congress may save Detroit for now, but it is the taxpayer that is getting shot and in the wallet.
A Few Side Notes.
1. Don Boudreaux (The only stake here should be through the heart of any bailout proposal) and Russ Roberts (Do the car companies have a good plan?) from Cafe Hayek have two good posts pointing out that it appears easier to get money from politicians than investors.
2. Dr. B believes that Congress will protect taxpayer money by forcing foreign auto producers to unionize and thereby leveling the playing field for Detroit.
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well, I typed a long comment and somehow just lost it. Too bad, it was clever. I wonder what the headline would've read if the man had been shot during sex? I'm sure it would've been a little more direct. The auto industry bailout is a mess, and the unionization of foreign automakers would potentially put a crimp in my preferred dealer, Toyota. I can see your point though Dr.B, Congress will want to protect taxpayers. Too much supply and not enough demand coupled with a lot of greed, are a recipe for disaster.
ReplyDeleteThe whole problem with love hate relationships is not the hate part, it's the love.
ReplyDeleteWhen two people have issues, it is clear they are in a toxic relationship and need to stay...WAY...away from each other.
Perhaps they haven't grown up enough to realize that they don't need that comfort of someone being there, or perhaps they are simply masochistic.
There's one more reason. And I believe that it is the same reason that the motor industry and the congress keeps jumping in together. - The momentary pleasure makes them forget about all the problems they just went through-
When congress and big business gets rolling they tend to make life much better for each other while forgetting about everyone else.
I agree with L33 when they say "When congress and big business gets rolling they tend to make life much better for each other while forgetting about everyone else" Congress and big business' are just in it for themselves and their pocket book. They forget that we the little people are the ones that do the dirty work. Sure congress will bail out the car company because I am sure that it will hurt some of the pocket books of the congressmen if the car company goes out of business.
ReplyDeleteThis was an interesting post indeed! I wasn't quite sure where you were going after the first paragraph, but I'm glad I continued reading.
ReplyDeleteThe potential bailout of the automakers is yet another eye opener for all of us. Many of us love to hate big business right now and it's easy to place the blame when we are constantly reminded by the media how well off the executives are. I believe that as a society, we have allowed this to happen. Let's move past the placing of the blame and onto the resolution.
I also share Dr.B's belief that the foriegn automakers may be forced to unionize to level the playing field. I do not completely agree with this either, Jerianne, as my preferred automaker is Honda. I believe consumers like you and I have a voice and perhaps it is now being heard. Unfortunately, it's not what the Big 3 want to hear.
There was mention of the contributions made by the Big 3. It would be interesting to compare how much Toyota and Honda spent lobbying. I'm fairly confident that it was significantly less than the Big 3.
Very interesting first story, I'm not even quite sure how that happened, but it makes for a very good story.
ReplyDeleteOn the other hand the tax problem we are all going to start feeling is bound to happen. We all complain about it, but in the end our economy will be better off if we all just tighten up a little right now and get out of our huge national debt.
I am definitely going to look into the first story a little more. Sounds very odd to me how that could happen. As far as the other write-ups I would have to say that congress is having the auto-industry build cars the way that they want them to, and detroit need to follow so that they can be protected
ReplyDeleteI believe that this bailout with the auto industry is a big mess. I think that they should not be bailed out. They got themselves into the mess and they should figure out how to get out and by asking congress for a bailout.
ReplyDeleteI think the government has already gone too far with the bailouts. Giving money to the banks without any regulation on how that money should be used was rediculous.
ReplyDeleteAs for the auto industry, I feel that the government should step in and do something. The auto industry is partly to blame for their mess, but Washington is also responsible. The impact on the economy when GM fails will be felt by millions of people.
I think it's very shortsighted of Congress to try and tell these big wigs how to make cars. To extend the analogy: It's similar to one's relationship with his parents. If I want to ask my parents for money, it comes with the preconditions that they have the right to tell me how they think I should spend the money, or they can lecture me on irresponsibility by digging myself into this whole. However, in the end, I will decide how to spend that $20. And, in the end, I think these automakers should be able to control how they spend this money (If Congress decides to give it). And they'll be just fine.
ReplyDeleteOr they'll turn 18 and their parents (Congress) will decide to cut the ties and tell them to grow up.
--Rustin Tawater
I think I'm going to have to research that first story. If anything I want to find out what the outcome was.
ReplyDeleteAnd as far as the bailout goes I think it would be a huge mistake to make the American people pay for the financial struggles of the large car dealerships. If any small grouping of companies asks for a "bailout" congress wouldn't give them an oppertunity to even present their case. The dealerships, though big companies, should be treated just like any other company and should be responsible for finding a way out of the turmoil they got themselves in.
You certainly did push that analogy about as far as it would go!
ReplyDeleteHowever, I don't think I'd go so far as to say Congress and the auto industry have much of a loving relationship. Presently, I'd relate it to a nineteenth-century street urchin begging his fellow vagrant for nonexistent coins.
Love makes the world go 'round....
- Luke Bussey
A love-hate relationships is not particularly healthy. In the first story, it seemed quite evident that the feeling of love was not the only emotion involved in the heat of the moment. Hate may have been present to pull the trigger in this instance.
ReplyDeleteThe fact that love is such an overwhelming experience is somewhat harming to different relationships, such as the car industry and the Congress. This feeling of love can block the feeling of hate for a certain amount of time, leading to very rash decision-making. Then, when the problems arise from these decisions, the hate feeling comes flooding back into the equation.
Thus, an unhealthy relationship.
--> Nicole Turner
I think that if the car industries would start to spend their money wisely they wouldn't be worried about money issues right now. All they are doing is making the big bucks and blowing it on things they don't need. Maybe they do need a pay cut to realize how much money that they do have.
ReplyDeleteWere gonna have tax problems no matter what, get over it people,
ReplyDelete