I wonder why...

Help me with something I am unable to fully appreciate. Why would the government spend so many billions of dollars to resuscitate an insurance company that committed financial suicide, yet not be willing to spend 15% of that amount on two of America’s auto firms? The auto makers employ more people. The suppliers to the two automakers employ more people. They actually manufacture a useful product. They don’t just speculate wildly in derivatives of nothingness!

When I have asked this, folks have suggested one of the following: that the failure of the insurance company would have panicked Wall Street, would have cost us more in the end, would have left businesses looking for insurance. So it seems, the people I’m asking don’t know either! Is there only one insurance company in America? Why didn’t the collapse of Lehman Brothers do Wall Street in!

Has anyone asked bankers or insurance company employees to reduce their wages, to pay more for health care? Has it been suggested that we abandon all retired bankers and former insurance company executives to lives without health insurance at all? Then why do we propose such actions for auto workers? If health care is a concern to this administration and General Motors is the largest private health insurer in the country with a million employees and retirees covered, why would we let it go into bankrupcy and end all that health insurance?

I read recently that former employees of bankrupt financial firms had had no difficulty finding new work. Something like 90% were already working again, no doubt hoping to bankrupt additional firms.

Here’s an odd thought: where did all the TARP money go? I don’t think it all went to bonuses for boneheads. No, I think banks are holding it all, waiting for the next big thing, the next derivative of a tulip bubble so they can make a killing! Why squander it on your silly little 5% mortgage? If they waste money like that how much will they have to invest when Son of Madoff comes along with a guaranteed 12%!

Besides, when was the last time you paid your auto worker a bonus?