Wall St vs Car St

I’m still aghast at how much we look down on the one group of people in America who still actually MAKE something for a living.

I am, of course, talking about the American Auto Industry. It’s a group of people who I feel we’ve very badly mistreated over the last couple of months. And how did we mistreat them? For starters, let’s look at the difference between Wall Street and Car Street (for lack of a better name).

On Wall Street, we singled out the group of people whose bad decisions and horrible diligence caused the single greatest collapse of the world’s economy since the Great Depression. Because of the problems created by Wall Street, the United States has lost well over 2 TRILLION Dollars in net worth over the last year. Then we allocate $700 Billion to give these same people so they could fix the very problem they created. Let’s recap. Wall Street causes problem, we leap to save them.

So along comes the trio from Car Street, hat in hand, seeking help because the damage made by Wall Street execs has hit them unbearably hard. Not because they manufactured cars that were unprofitable, but because no one has any money left to buy the cars they made. US Car manufacturers have lost over $70 Billion in sales, and are asking for $35 Billion in loans to make it through the next several months. So having spent 700 big ones on the finance sector, we refuse 35 big ones for the little guy. Let’s recap. Car Street’s problem caused by someone else, we refuse to save them.

So when the financiers from Wall Street fly in their private jets to explain how they screwed up our economy, we give them the biggest bail out (per GDP) in the history of the US.
And when the guys who ACTUALLY MANUFACTURE SOMETHING for the US fly in their private jets to ask for a freaking loan, we send ‘em packing.

Anyone want to explain this one?