Bad Decisions Led to Financial Crisis

Are we talking about bailing out the automakers for making poor business decisions? For years the Detroit automakers have been giving in to Union demands and political pressures which has resulted in employees of the automakers industry getting unreasonable compensation packages.

The chickens have come home to roost. This was forseeable and avoidable and now the automakers want us to bail them out. Actually, what we would be doing is enabling more of the same bad business decisions that got them into this mess in the first place. Same thing with the financial institutions, which is another part of the untold rest of the story.. Automakers have become "financial institutions and have been just as guilty as the banks for making loans to subprime borrowers.

Capitalism made America the economic power that it became. Bailouts are anti- capitalism and are taking us closer to gross socialism. Because of the direction that we're headed we could become more socialist than Russia by the end of 2009.