Friday, December 19, 2008

Who Will Buy a Car from a Bailed out Auto Maker?

Domestic U.S. automakers have attempted to support receiving handouts from the federal government by presenting polls claiming that people would never buy a car from a bankrupt manufacturer. However, they have not asked the question of how much resentment would be created toward the companies by the fact of their taking of taxpayer dollars.

People tend to complain about the instant loss of value that takes place when a car leaves the dealer's lot, but in this instance GM and Chrysler are taking my money, and I'm not driving away with anything.

My next car may be a Ford. Based on today's announcement, I will never in all of my life buy a GM or a Chrysler. Never.

These companies have nowadays taken to the thought that they are "too big to fail." In my mind, a company that is so big that it can claim that the taxpayer is obligated to bail it out to prevent the economy from crumbling is too big to exist.

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