General Motors hit a road bump by the name of the U.S. Senate on their way to collecting a few BILLION from you and I. It seems that a couple of Senators have the sham figured out. It’s the UNIONS! The unions want the bailout bucks so they can keep their position and power. Bankruptcy wouldn’t be the end of GM, but it would sure hurt the unions. It seems some are figuring out that bankruptcy is better than riots which is just what might happen if GM and auto industry is bailed out while others are not.  

Pesky presidential candidates and Congressman Ron Paul says that bailouts of U.S. corporations are “bad morally” — and that current federal economic policies “will literally destroy the dollar.”  Paul also insists that the use of “counterfeit” paper money instead of a gold-backed currency is “insane,” and declares it is “foolhardy” for Barack Obama to propose national health care under the present economic conditions.

Meanwhile, prospects for passage of a $14 billion auto industry rescue package dimmed Thursday amid strong Republican opposition, despite urgent appeals by both President-elect Barack Obama and the Bush White House. Senate Republican Leader Mitch McConnell came out against the legislation – the product of a hard-fought behind-the-scenes compromise between the majority Democrats and the White House. And not even the White House’s argument that it was crucial at a time of rising joblessness seemed to restore lost momentum for enactment.

Who believes Congress or the president anyway? 

In an interview following a Dec. 10 press conference where he and four other senators aired their opposition to the oposed bailout deal struck by congressional leaders and the White House (and approved by the U.S. House of Representatives 237-170 that evening), Sen. Jim DeMint, R-S.C., warned that the perception that some industries are being bailed out and some aren’t could lead to violence.

Violence? 

“We’re going to have riots. There are already people rioting because they’re losing their jobs when everybody else is being bailed out. The fairness of it becomes more and more evident as we go along. The auto companies may be hurting,” he said, but “there are very few companies that aren’t hurting and they’re going to hurt. We don’t have enough money to bail everyone out.”

Can you  relate?

By bailing out institutions and industries with hundreds of billions of dollars, we’re creating another hell call hyper-inflation just two years down the road. But of course, we keep those who have literally one bankrupt in business. Does than make sense or resonate with you?

Ernie Fitzpatrick
http://www.articlesbase.com/economics-articles/riots-ruined-dollar-680335.html