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CNBC.com Federal Loans |
I've been called a socialist, an idiot, a Big 3 co-conspirator and a moron by those who say Washington should NOT help Detroit out with Federal loans.
Why?
One reason is that people believe we should let the free markets work and not have Washington come in to backstop the Big 3.
Still others are ticked off that auto execs are asking for Federal help at a time when many are being paid millions.
But the No. 1 reason many of you say NO is because you feel the Big 3 execs got themselves into this mess by being boneheaded fools, who kept cranking out SUVs and pick-ups instead of developing fuel-efficient cars.
Now, I've also heard from many people who strongly agree with me that a "bailout" is needed. Most are with me in saying, "You let these guys slide into bankruptcy because they can't re-tool, it won't be pretty."
But make no mistake -- a lot of you don't like this idea.
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The Big 3:
- Ford Motor [F
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- General Motors [GM
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- Chrysler (privately owned)
The Competition:
- Toyota Motor [TM
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- Nissan [NSANY
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- Honda Motor [HMC
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