Essential Government Bailouts?: Ford Favorables Continue to Rise As GM, Chrysler Slip
They tell us that government bailouts were essential to save the viability of private corporations in America. What do you think about this “evidence?” Of the American auto companies, only Ford has reported a quarterly profit since. Ford is the only one that refused government money and is not now majority publicly owned. GM and Chrysler are heavily regulated, are secondarily (after government) union-owned (worker control of the means of production), have had contracted private investors moved to the back of the ownership line, and in the case of GM, there was even a CEO dismissed by the government.
Maybe it would help to look at it this way: Government subsidy is like a mousetrap. Government regulation of the market induces hunger, and government bailout billions is the cheese. In hard times, “Man, that cheese looks good. It sure would provide some immediate relief…Let’s go for it!” “THWACK! Wisdom looks beyond today and immediate appetite.