Opposition to New Bailouts (An Open Letter to Congress)

Dear Congressmen:

 

I am writing to urge you to vote no on the proposed bailout of the auto industry. 

Prior to the initial bailout being past we heard the following statements: 

“…There is the possibility that there will be no economy on Monday.”

-Henry Paulson 

“..If we don’t get it solved next week, I may have to go back to delivering papers.”

-Warren Buffet 

Despite promises of transparency, no golden parachutes for executives, infusions of money to revitalize the credit markets, we have received none of these things. In fact the bailout appears to be one of the most expensive scams ever pulled on the American people.  Now we want to bailout the auto manufactures? They continued to resist new fuel standards, and safety standards. In some cases they covered known safety defects, and have used their power to destroy smaller, more advanced and efficient newcomers like the Tucker that could have revolutionized the industry. 

Are these companies too big to fail? I would suggest that perhaps they are too big to succeed. 

If these companies truly have something to contribute to our country, they will find the way to reinvent themselves.  Or they will die and make way for smaller more nimble companies like Tesla motors. 

Bailing these companies out is the multi billion dollar equivalent to repeatedly buying an expensive new cell phone for a careless child. Having learned that there are no consequences for the behavior, the will continue to repeat it, and drain the resources of this country. 

I am very aware of the consequences that the death of one of these giants could have.  I would suggest however that bailing them out will be like handing an alcoholic a bottle of alcohol to help them, and us, avoid the immediate pain of having them face facts. The answer to this nations problems lies not in supporting unsustainable industry, but by encouraging smaller industries that are innovative and efficient. 

Please vote no on the bail out (amendment of existing bail out) of the auto manufacturers and focus on the long term good of the country. 

Sincerely,

Tim Snodgrass

Any ideas or comments we should add prior to sending?