It's rare to see so much ignorance and arrogance from the posters on here.
Many of you celebrating this bailout failure were arguiing FOR the bailout of financial institutions. Now, because you were wrong about bailing out the financial institutions, you want to punish the big 3. And to be so excited about the prospect of hundreds of thousands of working class people losing their homes, retirements, health care... of course it's easy to be selfish SOB's when this decision doesn't directly affect YOU.
I'm not really surprised that the bailout didn't pass. Of course, the balance of power has swung too far in favor of labor and the companies cannot compete with their costs in the current marketplace. And the Senate, like many of you, are punishing the big 3 for their poor decisions regarding the banks. If this happened a year ago, the bailout would have passed easily and wouldn't even have been big news.
Be aware that this country is now risking the loss of $50 billion in tax revenue from these workers. Michigan has been in recession long before the rest of the country, has been near the top in unemployment, foreclosures, etc. But be aware that the big 3's demise will hit ancillary businesses all over the country. In Michigan, we will immediately see the loss of small businesses, such as retail establishments, restaurants, etc. Nationally, the suppliers, trucking co's, and many others will feel the impact.
So to anyone who thinks it's funny to celebrate this situation and laugh at the potential demise of the big 3... Go **** yourself!
