Why should tax-payers bailout an industry that made such enormous profits over the last 90 years; and, then, took those profits--- wealth created by workers--- and invested those profits in cheap labor markets overseas knowing full well what was going to happen?
Borosage's essay can be read here:
http://www.ourfuture.org/blog-entry/2008125012/hoover-time
Comment: Notice that Robert Borosage completely omits the enormous profits made by the Big Three... these profits are the wealth created by workers and stolen in the form of profits from both auto workers and society.
This tremendous wealth has not disappeared simply because Robert Borosage and Barack Obama choose not to talk about this wealth.
Question: Why has Robert Borosage and the Campaign for America's Future ducked the issue of nationalization of the auto industry?
Comment: What tax-payers finance, tax-payers should own.
Alan Maki submitted the following Letter to the Editor of the Minneapolis Star Tribune which refused publication:
November 12, 2008
First Wall Street Bankers. Now the Big Three automakers. Who is coming for a handout and free lunch next? The lobbying industry?
The government is prepared to let the St. Paul Ford Twin City Assembly Plant and two-thousand jobs go down the river because there was no money to save this one plant and now tax-payers are being told, not even asked, that they will be bailing out the entire auto industry.
Obviously free enterprise has failed. Why should tax-payers bailout the Big Three when in a few months the price of each of the Big Three's stocks should be less than one-dollar a share.
Tax-payers will have the opportunity to purchase the entire automotive industry for a real bargain for far less than what the wars in Iraq and Afghanistan are costing us.
A board consisting of all the stake-holders could be brought together and we could finally produce quality products which are environmentally friendly... not to mention affordable.
Capitalism hasn't worked; socialism will.
The Big Three cry poverty after they have taken the wealth created by North American workers and invested that wealth in quest of cheaper labor and resources overseas.
I don't believe politicians would even consider turning over one penny to these greedy corporations without even having had the opportunity to see their books... all the books, including their international operations.
What tax-payers finance, tax-payers should own.
Nationalization under public ownership is the solution to the problems of the auto industry.
The time has come to put People, Jobs and the Environment Before Corporate Profits!
Alan L. Maki
58891 County Road 13
Warroad, Minnesota 56763
Phone: 218-386-2432
Cell phone: 651-587-5541
E-mail: amaki000@centurytel.net
Check out my blog:
Thoughts From Podunk
http://thepodunkblog.blogspot.com/
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