The Big Three Bailout Alternative 
Author: johnmilton
I will not take credit for this idea. I heard it from my future father in-law last night during dinner and it was so amazing I wanted to share it. We all know the Big 3 Automotive makers are in financial trouble. We know the dealerships who employ hundreds of thousands of employees are in trouble, we know the banking industry are in trouble and we know we are in a recession which means the consumers are in trouble.
A simple solution.
Do not give the Big 3 money directly. The government can instead issue vouchers to tax payers for 60% - 70% off the price of a new car from one of the Big 3 companies. Consumers could go buy a brand new car for 70% off. The banks could pretty much right secured loans because if the consumer defaults, they can resell the vehicle for more then the original loan was written, the dealerships would be booming with business and all those employees would keep their jobs, the Big 3 would flourish with record breaking sales figures and the consumer would see a direct impact in a positive way with a new car ... that the government helped them purchase.
If only life were this simple eh?
He said he was going to send the idea to Barack Obama. Yes We Can.
November 2008 - 10:54am | johnmilton | 
| 
