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Thursday, October 02, 2008

Quote of the day

This quote from Iacocca isn't about this crisis, but seems apropos:

"Am I the only guy in this country who's fed up with what's happening? Where the hell is our outrage? We should be screaming bloody murder. We've got a gang of clueless bozos steering our ship of state right over a cliff, we've got corporate gangsters stealing us blind, and we can't even clean up after a hurricane much less build a hybrid car. But instead of getting mad, everyone sits around and nods their heads when the politicians say, "Stay the course." Stay the course? You've got to be kidding. This is America, not the damned Titanic. I'll give you a sound bite: Throw the bums out!"


  1. Although I agree with his statements, I find it ironically amusing that you chose a quote from Iacocca. Didn't the U.S. taxpayer bail out Chrysler with loan guarantees back in '79...at his request?

  2. Yes, there's a certain irony to that.

    As Wikipedia notes, the Chrysler deal was a better bet than the current madness, although still a bailout:

    "Realizing that the company would go out of business if it did not receive a significant amount of money to turn the company around, Iacocca approached the United States Congress in 1979 and asked for a loan guarantee. While it is sometimes said that Congress lent Chrysler the money, it, in fact, only guaranteed the loans. Most thought this was an unprecedented move, but Iacocca pointed to the government bail-outs of the airline and railroad industries, arguing that more jobs were at stake in Chrysler's possible demise. In the end, though the decision was controversial, Iacocca received the loan guarantee from the government."


  3. You are so right...The Chrysler bailout was a sneeze compared to this flu.