Comments on: Mitch McConnell: No http://www.jasetaro.com/blog/2008/12/11/mitch-mcconnell-no/ Welcome To My Personal Web Log Fri, 15 Jan 2010 20:41:03 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: J'hn1 http://www.jasetaro.com/blog/2008/12/11/mitch-mcconnell-no/comment-page-1/#comment-338 J'hn1 Fri, 12 Dec 2008 05:57:59 +0000 http://www.jasetaro.com/blog/?p=1090#comment-338 One huge item nobody has mentioned yet are the World Trade Organization treaties. IIRC, the MSM has mentioned various cases where the WTO has "ruled" against the US for government financial support of US companies and industries and that sold those goods outside the US. (Boing vs Airbus for recieving French and British funding and US farmers vs world are only two offhand). Well, this is also going to be a subsidy. And is also a WTO violation. You don't think the WTO will forgo the opportunity to dig deep into US taxpayer's pockets to support most every other automotive mfg. company in the world? The big 3 are not only Chrysler-Plymouth, Dodge. Ford, Lincoln-Mercury, Buick, Cadilac, Chevrolet, GMC truck and Pontiac. They are also Mopar, Motorcraft, AC Delco, Delco-Moraine, New Departure Hyatt bearings (GM had more vertical integration before the unions taught everybody else that was stupid) and dozens of others. So either the US bans all US exports from all Big 3 companies, AND ALL THEIR SUBSIDIARIES, or there is a legitimate claim for damages against the US government for not only the competitors in countries that the Big 3 export into, but all foriegn companies that ship any competing product into any nonUS country that the Big 3 ship into. That is every automotive and truck manufacturing company, and just about every replacement part company in the world. I don't think the WTO would pass on "free" money for every nonUS automotive related company in the world. Pick one of the following, 1) no Big 3 exports from the US. 2) massive subsidies WORLDWIDE for all nonUS competitors. 3) pull out of the WTO. 4) don't pass the bailout. Personally, I lean towards #4, let the stockholders (including pensions) who didn't insist on the problems being fixed go fish. One huge item nobody has mentioned yet are the World Trade Organization treaties.
IIRC, the MSM has mentioned various cases where the WTO has
“ruled” against the US for government financial support of US
companies and industries and that sold those goods outside the US.
(Boing vs Airbus for recieving French and British funding and US
farmers vs world are only two offhand).
Well, this is also going to be a subsidy. And is also a WTO violation.
You don’t think the WTO will forgo the opportunity to dig deep into US taxpayer’s pockets to support most every other automotive mfg. company in the world? The big 3 are not only Chrysler-Plymouth, Dodge. Ford, Lincoln-Mercury, Buick, Cadilac, Chevrolet, GMC truck and Pontiac. They are also Mopar, Motorcraft, AC Delco, Delco-Moraine, New Departure Hyatt bearings (GM had more vertical integration before the
unions taught everybody else that was stupid) and dozens of others.
So either the US bans all US exports from all Big 3 companies, AND ALL THEIR SUBSIDIARIES, or there is a legitimate claim for damages against the US government for not only the competitors in countries that the Big 3 export into, but all foriegn companies that ship any competing product into any nonUS country that the Big 3 ship into.
That is every automotive and truck manufacturing company, and just about every replacement part company in the world.
I don’t think the WTO would pass on “free” money for every nonUS automotive related company in the world.

Pick one of the following,

1) no Big 3 exports from the US.
2) massive subsidies WORLDWIDE for all nonUS competitors.
3) pull out of the WTO.
4) don’t pass the bailout.

Personally, I lean towards #4, let the stockholders (including pensions) who didn’t insist on the problems being fixed go fish.

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