Comments on: Did they do anything?

By: Jo Scannell

Jo Scannell — Wed, 10 Dec 2008 19:10:54 +0000

John Jade (blog above: Dec. 3, 2008 2105 GMT) hit on the head what seems to me the big point: “Did they (Detroit) not see the Volkswagon Bug or the Japanese trouble-free Honda and Subaru?” - Add Toyota!

Green, schmeen; TROUBLE-FREE!!

I bought two consecutive Detroit cars, new, in the early 80’s that spent a lot of time in the shop (part of which was NEVER fixed). When I didn’t get a US Medal of Valor, I bought a used Toyota.

Detroit could close 80-90% of their over-staffed dealers (and their expensive service departments) and THEN talk about innovation.

By: JEANIE

JEANIE — Mon, 08 Dec 2008 18:43:56 +0000

President elect Obama should make sure that any money going to mayors like Villaragosa in Los Angeles should INSURE that American citizens recieve those jobs. The job market in Los Angeles severely discriminates against english speaking tax paying citizens even when language would should not be a requirement deterent. I know of a job with the school district within the fiance department required that the applicant be spanish speaking. There are directors of parent centers that speak spanish only. We bear the cost of providing spansh speakers with opportunities. This trend has increased during Mayor Villaragosa's administration. We now need to require English speakers are treated fairly.

By: Tony Joseph

Tony Joseph — Sat, 06 Dec 2008 07:29:01 +0000

Great capitalism does not override nationalism. The government has to put its "country/people first". Cheap goods from China and cheap L1/H1b workers from India are one of the root causes of down turn. If greedy corporatist wants to make huge profit by ditching USA then they should be regulated within the limits by law. Otherwise they should lose the chance of business in USA. So they will have the option and country has its option, is that too hard :-). The H1B and L1 visa pools are widely misused to get cheap labor and to have better control on the labor force. H1b and L1 visa is the lifeline for American corporate sweatshops in India. These sweat shops are very flexible, operates 24/7 and cheap down to earth. Recently Microsoft chairman Bill Gates advocating for more H1B to get 'talent' but it was purely for cheap technical labor and smooth functioning of its sweatshop in India. He denied it and claims all the migrants in his company gets more than 100000.00. But recent statistics from immigration dept reveals that average salary of green card applicant from Microsoft is below 45000. Remember they will be working for at least 5 years in US to apply Green Card. So its baseless if they say figure is the salary of an entry level Job. So US Govt. should stand by for its long term plans for its citizens. Not for its grass hopping corporations. Who knows corporate barons will dump US and buy huge land somewhere abroad and start their own country for more profitable operations

By: bigjoerice

bigjoerice — Fri, 05 Dec 2008 20:44:50 +0000

The real villains in the piece are the auditing firms that these companies used, who clearly rubber stamped the annual reports they signed off as accurate and reasonable, when not even hindsight can show it to be the case.

When you consider how much they were paid for this service which government, investors, and the marketplace needed for checks and balances, people should be demanding their CEO heads on platters as much as the companies they audited.

If you want a Mea Culpa, the audit companies and their ilk should be first in the long and lengthening line of sinners.

By: Elaine Wickham

Elaine Wickham — Wed, 26 Nov 2008 13:36:12 +0000

It is logical that the CEOs of AIG and Citibank did such a poor job in running their companies, as would be done in any corporation, they should be fired and replaced with close scrutiny by our people who are bailing them out.

By: Tom in Wisconsin

Tom in Wisconsin — Tue, 25 Nov 2008 00:19:59 +0000

How can so many smart people be so dumb. Don't give the billions to the banks and auto manufactorers. Give it to the people. Then put a value added tax on goods so the money goes back to the government. People would spend spend spend. Ourr economy would recover faster than all the tinkering the governments can do.

By: Troy

Troy — Sun, 23 Nov 2008 23:23:01 +0000

The tipping point for the recession has come and gone months ago, what the G20 is doing now is trying to stop is the depression. The big bailaout for the financial sector stabalized the banks balance sheets but did nothing to get the real economy moving, just as another bailout for consumers will fail for the same reason, and that is that every person or company wants to be standing when the perfect storm passes. In other words just as the banks kept the bailout money so will the consumers, which in turn means that the money used for these bailouts will in the end will only slow the process but not stop it. Countrys will then see themselves with no further room for manouver as the traditional buyers of debt i.e. China, Japan, Middle East, would be hard pressed to buy more. The end result would be that the bailouts would only serve to bankrupt the country and its citizens.

My advice, Keep the money,let the greedy fall by the wayside and use the money to only prop up important industry, to support the wokers loosing their jobs, invest in education, technology and renewable energy and infrustructure projects, make accounting and investments both transparent and simple.

In my veiw this will be the only way that anybody will come out of this ready to meet the chalenges ahead. Sure it would require a lot of pain and collective resposability, but in the end was this not produced by collective irrisposability and greed?

By: C in DC

C in DC — Sun, 23 Nov 2008 20:41:52 +0000

I don't think the answer to the financial crisis is to create another diplomatic entity to deal specifically with the crisis. It would have been best to just call it a conference. If there is a proliferation of international bodies on every issue, it will be difficult to accomplish anything. That being said, whether this meeting accomplished anything, it is too soon to tell. Reforms take time, and creating international governing systems also take time. I think the G20 did recognize the issues that have be dealt with and possible international solutions for prevention and regulations. These are, once again, international solutions, so it may be a while until we see any positive economic movement domestically. And Domestically, every country at the G20 has its own problems, that each leader must address separately. I think that is what should be the immediate focus on for the time being because in the end nothing will come out of reforms if the most developed countries and leaders of the G20 are not able to stabilize their own economies.

By: Reader

Reader — Sat, 22 Nov 2008 03:13:33 +0000

Who has consistently refused to regulate the investment market? Wasn't it Bush being pushed to do so in Germany just a year ago or so and refusing it until it was too late? The ones to blame first sit in the US, the one to pay, again, is the developing world!

By: Milton Sosa

Milton Sosa — Fri, 21 Nov 2008 23:23:28 +0000

im sorry for the big 3 thay should be ashamed asking for a 25 billion dollar bailout . I am a us postal service employee . I sufered a industrial accident in 2006 and havent recieved no kind of compensation . I applyed for disabilty retirment and social security and havent recieved a cent I am a family man about to go insane my only income comes from food stamps .and your asking for a bailout .You should have seen your situation coming and taken mesures to aviod what you forsee .bankruptcy. why should the american people pay for your golden life styles.