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View Diary: Romney adviser dismisses auto rescue as 'one-trick pony' (63 comments)

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  •  Banker of Last Resort (1+ / 0-)
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    That is the basic role the government played in the auto bailout, just as they did for Chrysler in the 80s. It isn't something you want to rely on in an economy, but it is a great fallback when the loss of an industry would have such a devastating impact on the overall economy. I mean, not only the loss of the jobs, but can you imagine the nightmare of no replacement parts for owners of cars from the bankrupt companies or the decline in value of all those American cars already on the road? An auto industry collapse might have damaged the American economy beyond repair. We already have many years of recovery before we get back to where we were before the GOP wrecked the economy, it would have been 3 - 4X longer if we'd lost an industry that big.  

    A government that denies gay men the right to bridal registry is a facist state - Margaret Cho

    by CPT Doom on Sat Oct 27, 2012 at 01:57:33 PM PDT

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