Off The Wall

Can someone explain to me why AIG and Citibank and all the other banks are getting zillions of dollars while the American car companies have to crawl on their knees to get a few billion (I know, two years ago we would say a billion dollars was a lot of money, but those days are gone…). I mean, at least the car companies actually make something! And they employ people who have skills!


Instead of pushing the car companies into bankruptcy, why not let AIG and Citibank and all the people who played around with credit default swaps and mortgage backed securities go bankrupt? And don’t tell me we need them to survive! We have a lot of regional and small banks as clients who are doing just fine and lending on a regular and fair basis to individuals and businesses. And since no one is going public now any way and very few mega-deals are being done, who is going to miss the giant investment banks anyway? We survived Bear Stearns and Lehman Brothers going under, and I am sure new ones will crop up when they are needed.

I think we should reward the people who have been conservative and ran intelligent risk-analysis systems and let the idiots who got in way over their heads get what they deserve. So go out and do what I did—buy a new American made car and support your country (I bought a Buick Enclave and I think it is a great car)! And, by the way, yes, StockTrans is American owned and managed and is quite solid financially.