essay 3 Final

[LaniC]

Cajulis, Leilani
English 101, Section 0459
O’Connell
Chapter 4 of Cullen Murphy’s book “Are we Rome” touches on the
topic of “The Outsiders”. Murphy shares his thought of America and
Rome’s view of self-grandiosity and indestructibility. In this
chapter, Murphy relays how the XVII, XVIII, and XIX Legions led by
Roman Commander Varus under Emperor Augustus were humiliated when they
were defeated in the battle at Teutoburg Forest by the German that
resulted in the death of 30,000 Roman soldiers. This event left the
Romans in disbelief because they have always regarded this group of
people as barbarians with inferior level of technologies and with lack
of knowledge. The blame, however, was placed on Varus and not on Rome
or Augustus overconfidence and superior view of self that the
opponent’s strength to fight back was underestimated. The United
States also shares the same view of self and for decades have
positioned itself as the world’s most powerful nation especially after
Russia’s decline. In comparison to William Shakespeare’s tale of
Antony and Cleopatra, Antony is depicted in the story as the fearless
Roman General who conquered all battles for Rome with formidable force
and unshaken courage but in the end, have lost his popularity and
trust from his own force as a leader because he allowed himself to be
entrapped by Cleopatra’s seduction that he neglected his duty to the
Roman army. He had taken his duty as Rome’s defender for granted and
had left his wife all alone to fight the war. Instead, he followed
Cleopatra to Alexandria and wasted his time drinking and fooling
around with the Egyptian Queen. This point of view reflects how
America looks at itself as a symbol of power and its overconfidence of
world dominance that its government underestimated the ability of
foreign corporations to manipulate and to take advantage of the laxity
of its foreign policies. Like Cleopatra, these money-greed multi-
national corporations have lured America to take their bait and be
drowned in huge debts. Most recent corporations hit by the worsening
U.S. economy are the big three automakers namely: GM, Chrysler, and
Ford. Majority of the lawmakers are skeptic about the three
corporations’ pleas for a multi-billion dollar bailout inorder for
them to continue their operations. The automakers and the lawmakers
cannot agree on the rescue plan since the prospect of paying back the
huge budget needed is very vague. This is very alarming because time
is running out, Congress is indecisive, and I think the death of these
giant corporations can result in a chain reaction that would further
sink the bad economy that we are facing today.
Over the past weeks, the lawmakers have been debating over the
14 to 15 billion dollar plea by the Big Three Automakers as financial
aid to rescue the ailing industry from collapsing. Tension has been
building up on both party affiliates and the decisions of the
lawmakers on the bailout are more dependent on the effect of the auto
industry crisis on their respective home state. California Democrats
are clashing with Michigan Democrats over the use of fuel efficiency
funds to pay for the bailout. However, although CA Democrat Barbara
Boxer is hesitant about this source of funding, she is also concerned
that if no bailout will be extended to the Big Three Automakers,
millions of Americans will lose their job. Senate Minority Leader
Mitch McConnell, (R-Ky) is also torn as he spoke of the auto industry
as an important source of jobs throughout America but he also
recognized the Republican opposing the bailout because it will impose
new burdens on the taxpayers with no clear guarantee of returns. I
think at this point, whether the bill for the rescue plans is opposed
or approved by the lawmakers, it is either the taxpayers or the
automakers who will be on the losing end. This situation is likened to
the time when Antony had to leave Alexandria in spite of his intense
passion to Cleopatra because he felt he had to go back to Rome to
continue his neglected duty to his country as the force of the
barbarians has escalated. The war has resulted to Fluvia (Antony’s
wife) being killed because he abandoned her to fight the enemies
alone. In relation to the current situation, I think that Antony is
likened to the lawmakers of the House who are uncomfortable with the
use of funds for the fuel efficiency plan to payoff the proposed
bailout but are greatly concerned in saving thousands of jobs in the
auto industry. Although these funds are intended to do a complete
makeover for the industry and to benefit the environment, the process
of the plan is long-term and the transition will not be expected until
the next ten years or so. I think that the California Democrats would
set aside the plan for now and would formulate resolutions to rescue
the auto industry from collapsing to avoid further economic
complications such as hike in unemployment rate leading to poverty,
crime, and high prices of living. Today, I have just read that the
House approved the plan last Wednesday on a vote of 237-170. It would
infuse money within days into cash-starved General Motors Corp. and
Chrysler LLC. Ford Motor Co., which has said it has enough cash to
make it through 2009, would also be eligible for federal aid. The
bill is now passed on to Senate for approval but in danger of being
held in suspension because most Senators are undecided especially the
Republicans because they are arguing that any support for the domestic
auto industry should carry significant concessions from autoworkers
and creditors and reject tougher environmental rules imposed by House
Democrats. Some Democrats also think that the bill lacks detail on
how the restructuring of the industry can be accomplished. The
bailout is so overwhelming that many are uncertain with their votes
and they are requiring the Big Three to come up with more suitable
restructuring plans that will define a path forward and will protect
the taxpayers’ money. The House proposed a creation of a “car czar”
by the Bush Administration or the concept of a federal overseer to set
guidelines for the industry overhaul with the power to revoke the
loans if the automakers fail to cut labor costs, restructure their
debt and downsize to stay viable. The proposal includes conditions to
the auto bailout money and restrictions such as limits on executive
compensation, a prohibition on paying dividends, a required government
share in future profits and taxpayers be repaid before any other
shareholders. The car czar will also have the power to make any major
business decisions while the automakers are using federal aid. The
companies would be required to open their books to the government and
get rid of their corporate jets – which became a symbol of the
industry’s ineptitude when the Big Three CEOs used them for their
initial trips to Washington to plead before Congress for the bailout.
I think that it is just right for the government to step up and be
involved over the companies’ administration because these industries
will be using the public money. I also think that the present CEOs of
the Big Three should be replaced and investigated by the government
because there is a clear picture of embezzlement of corporate funds.
This situation is likened to Octavius when he became dissatisfied with
Antony who seemed to have lost his dedication to Rome and to the Roman
Army. Octavius represents the “car czar” who is powerful over Rome.
Antony and Enobarbus are both likened to the corporate CEOs who
lavishly and indiscreetly used corporate funds for their personal
pleasures and I would say that the disillusioned Roman armies of
Antony represent the American taxpayers heavily burdened with these
corporate debts.
Is there other option for the U.S. government than providing
bailouts for industries in bankruptcy? Yes and for me, the best
option is to transform these private corporations into semi-private
with a federal controller to check on oversights. I also think that
the “masters” should be held liable to any corporate failures and
should be placed under thorough investigation by the government.
Freeze all their assets until they can justify their innocence. I
think that it is unforgiving to let the ordinary workers suffer the
consequences of their ineptitudes. If the bailout is the only way to
save the auto industry from collapsing, then let it be so but,
American taxpayers need assurance that their money will be returned,
and the only way is to let the government run these corporations
because we cannot just let the greedy-eyed to take advantage of these
financial aids and repeat the same wrongdoings they have committed.
Sources:
Barney, Rep. Frank, H.R.7321.EH, Auto industry financing and
restructuring act, Congressional Bill
Schatz, Joseph J., Ota, Alan K., 2008 Dec. 10, House passes automakers
rescue, CQ Politics
Davis, Julie Hirchsfild, Thomas, Ken, 2008 Dec. 10, Murky future for
auto rescue amid GOP opposition Associated Press Writer
Raju, Manu, Kady, Martin II, 2008 Dec. 09, Big Three bailout gains
traction, POLITICO
By Kim, Susan, 2008, Dec. 11, Detroit, The auto industry’s forgotten
legacy: Diversity, Times Magazine