Friday, December 12, 2008

Brendan E. Casey says ...

At the Big Picture, Mr. Brendan Casey writes:

I still want heads, on bloody sticks, Banker heads that is. Yes, the auto industry can not compete with their current business model. Not only do they need to make less gas sucking fuel hounds, they also need to make the majority of them for under 15k and still make a profit. Nonetheless I’m sick of hearing a bunch of whining New Yorkers slam the auto industry when less than a couple months ago they were saying things like unthinkable consequences, can’t let the banks fail, let it trickle down… Bankers do not make anything, they just charge interest, fees and penalties. At least automakers convert raw resources into something with some value. I think the problem here is most everyone still views this as an economic cycle, when in actuality it is an historic cycle. Historic cycles usually begin and end with heads rolling. As soon as the bankers start to realize that I suspect it will be too late.

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