bailing out the world

by ASV

GM is not an American company.  It's global and transnational.  AIG is not an American company. They invested money in banks throughout the world.  Citigroup cannot claim the red, white and blue as its home, because its home is the world.  However, when it comes to media coverage of the bailout, globalization never enters the picture.  

The reality is that all the companies we are bailing out are transnational corporations.  Sure, GM has plants in Michigan and workers have their pensions tied up.  But GM has plants all over the world.  The forces of globalization now mean a GM car has parts made in Asia, Africa and Latin America.  Still, they implore us on propaganda to buy American.  It's some kind of act of patriotism.

News flash: It's not my fault that GM made crappy cars.  It's not my fault that AIG screwed over the financial community.  Why are my parents paying taxes to bail them out?  Why will my generation be the ones who bail out the world? 

Photo Credit

Minnesota Public Radio

http://images.publicradio.org/content/2009/03/17/20090317_aig_33.jpg