Screw the Auto

Good afternoon to all of you who have taken the time to read my blog. So I was just taking a break from work and came across this article

OTTAWA, Feb 19 (Reuters) - U.S. President on Thursday said he was deeply concerned about the North American automobile industry and that it will need significant restructuring.

"We're deeply concerned about the current state of the North American auto industry," Obama said at a joint news conference with Canadian Prime Minister Stephen Harper.

Obama said his economic team was evaluating reports from Chrysler and General Motors on how the companies intend to move forward. "One thing we know for certain is that there is going to have to be a significant restructuring of that industry."

(Writing by Tabassum Zakaria; Editing by Jackie Frank)

As I was reading this, I could feel my blood boiling. Lets look over the last year:

Bank industry (aka Mr. Wall Street): oh boy we are in trouble; let’s ask for help of Uncle Sam.

Uncle Sam: How much do you need? Here is a blank check, do what you want with it.

Now let’s look at another industry.

Mr. Detroit: oops we need help, let’s ask Uncle Sam.

Uncle Sam: Nooo, we can’t, and why should we help you out. I mean you only provide jobs to 3 million people, and have a good record of actually paying back what it has borrowed from the government. An industry that has been in the lows few times and has came back swinging stronger then ever. No, we will not help you.

Why is it, nobody is telling Wall Street that they need to restructure (capping bonuses of few executives who will get their $$$ some other way anyway)?? Does it have anything to do with the fact that half the Washington politicians have close ties to Wall Street? Nah, that can’t be in, no way will this patriotic American with a firm believe in honest government that knows what its doing will ever believe.