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Bailout And Rescue Plans

What is the difference between a bailout and a rescue plan? There really isn’t one. It’s just a matter of how you want to get the message across. The AIG bailout is what they were calling it, but then the government was getting too much slack for how it was being presented.
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So when Hank Paulson went to Congress to get $700 billion to save the financial sector and the credit markets, he first called it a bailout. Then Congress went ahead and didn’t pass the bill, which in turn caused the stock market to plunge. By the end of the week they repackaged it and pitched it as a rescue plan.
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Either way you look at it, it’s still the same thing.
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Now it’s General Motors (NYSE:GM) and Ford Motor Corp (NYSE:F) turn. What will happen is still not clear. There is still two and a half months before Obama takes office. President Bush and Obama sat down yesterday in the oval office to discuss several things that need to be hashed out. Rumor has it that the auto industry was talked about, but neither of the men will reveal what was discussed, even though it seems that Obama’s aids have leaked the information out.
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If we are to save this economy we will need to save jobs and create new ones. Letting the the two auto companies to fail and possibly close some or all of their factories will not help this country bounce back any quicker.
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If we can go ahead and save the white collar jobs of Wall Street, why wouldn’t we save the blue collar ones of Main Street. What’s your opinion on this topic? I’d like to know.

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