I think we can officially say the "auto bailout" officially worked now

Breaking news today: GM posts its highest profit ever: $7.6 billion GM earns its highest profit ever in 2011 with $7.6 billion; overseas losses cut 4Q profit So can we now, officially end the conversations and questions about the need, sense and logic of having "bailed out"--or invested in--GM, Detroit, Chrysler and the American auto workers? Please. Sure, we didn't want to do it and we didn't want to need to do it but the fact is, if we hadn't bailed them out, we would have lost that industry, for the most part, almost completely. Link to original story: http://www.google.com/hostednews/ap/article/ALeqM5gQQyKL1zj8FAOWVfwO1Et4tc1VOA?docId=7878364211444f549d5c2356de1fdce9

Important movie this Monday evening

HBO has had a terrific run of putting out good movies to see, of course.  This is a particularly nice change for them, I think, as it's more of a documentary along the lines of "Enron:  The Smartest Guys in the Room."

We all need to see and know just what happened a few years ago so we can maybe also find out if anyone did anything blatantly illegal they should be prosecuted for now.

Oh, and it would be nice if we could and would learn some lessons, so we know what not to repeat.

Look at me, getting all hopeful.

An update

An update to Tuesday's (March 10) entry:

There's a story out right now on Yahoo! News from a Time Magazine article saying much the same thing.

See story here:
http://news.yahoo.com/s/time/20090312/us_time/08599188463000

People are asking the same thing--Is the President trying to do too many other, less important things right now, rather than focusing on fixing the financial mess we're in?

He seems to think not.

Some of us think he is.

We hope we're wrong, of course.

We want and need this thing attended to--and fixed.

You want faith in our economic and political leaders?

Well don't look for it here.

Or lately.

Check out this quote for why, exactly, Treasury Secretary Hank Paulson asked for 700 billion dollars of our taxpayer money to bail out his cronies on Wall Street, according to a "Treasury Department spokeswoman explaining how the $700 billion number was chosen for the initial bailout, quoted on Forbes.com, September 23:

"It's not based on any particular data point, we just wanted to choose a really large number."


Makes ya' wanna vote for higher taxes, doesn't it?