Posted by lae2 on December 04, 2008 at 17:12:31:
Because if GM built the fuel efficient cars that Americans "want" they would have been out of business years ago. Americans do not want a fuel efficient car. They never have. I drive a Honda Insight. The performance crushes the Prius. Highway is mileage is double the Prius and triple to cars from the domestic automakers. The technology was available in 1999. You can no longer buy an Insight in this country. Why? Honda could not sell them to Americans. I bought one of the last 500 Insights made.
Why did not capitol hill offer to assure incentives to consumers for buying the fuel efficient cars that the GM CEO was called "stupid" for not having built. The naive, sanctimonious, rude, and disgraceful way that the senate has conducted themselves in this matter frosts my ass.
I wish that Capitol Hill would cease being so presumptive as to hide behind the taxpayer. A senator contended that no other financial institutions were offering a bridge loan and this was reason for the US government to not provide a bridge loan. Where has this guy been? We are in a credit crises. The taxpayers must be vigilant in selecting our elected representatives. At the very least, our representatives should have at least one operable neuron.
Capitol Hill is on trial here, not the CEO's of the big three. It was not these CEO's business plan that put them in the red; it was policies from Capitol Hill (and a little problem with the economy). History will be more kind to the big three CEO's than it will be to the US government.