- Posted November 13, 2008 by
Martinsburg, West Virginia
This iReport is part of an assignment:
Your thoughts on the auto industry
The big 3 bailout and the dangerous ripple effect
Don't mind my cats. I have 7 and a few of them make themselves known during this video, especially Spike. He is an attention hog and a major lap kitty.
Anyway, as much as I am against bailouts, I do believe that we have simply been backed into a corner with the auto industry. I don't think we have much of a choice but to help them in some way-help them, not bail them out.
Although lack of competitive technology and irresponsibility are a part of their failing, there are also other factors. Our economy is one of them-fewer people are able to buy cars these days. There are other factors-this entire economy crisis is much more complicated than can be explained during any newscast.
I'm viewing this as a separate entity from the $700 billion bailout. It is a different beast and has a different impact on us as a nation and as individuals.