GT500-07 Posted November 13, 2008 Report Share Posted November 13, 2008 President-elect Barack Obama is pushing Congress this year to approve as much as $50 billion to save cash-starved U.S. automakers and appoint a czar or board to oversee the companies, a move that would require President George W. Bush's support, people familiar with the matter said. Obama's economic advisers are now convinced that if General Motors Corp. doesn't get a financial lifeline soon, it will have to file for bankruptcy by the end of January. And if the companies don't get almost $50 billion, Obama will be dealing with the issue again by next summer. http://news.yahoo.com/s/bloomberg/ablcucxr33jw Link to comment Share on other sites More sharing options...
sharabi Posted November 13, 2008 Report Share Posted November 13, 2008 One thing i do not get is why to pay them for a bail out from my tax money, while the CEO gets his 6 digits bonus intact.....? Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 13, 2008 Report Share Posted November 13, 2008 Some good background perspective: http://www.time.com/time/business/article/...00.html?cnn=yes Link to comment Share on other sites More sharing options...
2007GT Posted November 13, 2008 Report Share Posted November 13, 2008 The "car czar" will see to it that we are all driving skateboards powered by our own farts. The automakers will waste every nickel and come back for more like Oliver Twist. The unions to whom Obama owes almost everything will also line up to pillage the treasury and get their payback. Marxism at its finest. Link to comment Share on other sites More sharing options...
stump_breaker Posted November 13, 2008 Report Share Posted November 13, 2008 The "car czar" will see to it that we are all driving skateboards powered by our own farts. Hmmmm, then I should be able to do 0-60 in like 2.3 seconds. Link to comment Share on other sites More sharing options...
AstroDan Posted November 13, 2008 Report Share Posted November 13, 2008 The "car czar" will see to it that we are all driving skateboards powered by our own farts. The automakers will waste every nickel and come back for more like Oliver Twist. The unions to whom Obama owes almost everything will also line up to pillage the treasury and get their payback. Marxism at its finest. I'm afraid so. This is only the beginning... Link to comment Share on other sites More sharing options...
stormeaston Posted November 13, 2008 Report Share Posted November 13, 2008 I wonder if I can get a bailout too? Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 13, 2008 Report Share Posted November 13, 2008 Marxism at its finest. Well that didn't take long! Link to comment Share on other sites More sharing options...
2007GT Posted November 13, 2008 Report Share Posted November 13, 2008 Well that didn't take long! Are you saying that the government bailing out industries and taking an equity stake in the companies is NOT Marxism? It is a textbook example of Marxism. Maybe we should call it something the liberals would find more pallatable like "proactive reorganization of monetary custody" or something. No matter what you call it, it is still Marxism. That guy picking up your trash on Monday and Friday might call himself a sanitation engineer but he is still a "garbage man". Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 14, 2008 Report Share Posted November 14, 2008 Are you saying that the government bailing out industries and taking an equity stake in the companies is NOT Marxism? It is a textbook example of Marxism. Maybe we should call it something the liberals would find more pallatable like "proactive reorganization of monetary custody" or something. No matter what you call it, it is still Marxism. That guy picking up your trash on Monday and Friday might call himself a sanitation engineer but he is still a "garbage man". Humm..maybe you should go to Borders or B&N and pick up a book on economics and look it over? Maybe take a look at the Republican Administration's bill, that the Republican Presidential Candidate voted for, and was passed by Congress to assist these messed up companies? Hey, I don't like the bailout either, and have posted such times, but I don't throw out craziness reminiscent of the campaign slugfest and if you want to to talk about issues with the bailout plan in an intelligent and thoughtful way I'm happy to do so! However if you would rather play silly word games that polarize rather than enlighten, well you're free to to that too! :happy feet: Link to comment Share on other sites More sharing options...
2007GT Posted November 14, 2008 Report Share Posted November 14, 2008 Humm..maybe you should go to Borders or B&N and pick up a book on economics and look it over? Maybe take a look at the Republican Administration's bill, that the Republican Presidential Candidate voted for, and was passed by Congress to assist these messed up companies? Hey, I don't like the bailout either, and have posted such times, but I don't throw out craziness reminiscent of the campaign slugfest and if you want to to talk about issues with the bailout plan in an intelligent and thoughtful way I'm happy to do so! However if you would rather play silly word games that polarize rather than enlighten, well you're free to to that too! :happy feet: It was Marxism when McCain voted for the Wallstreet bailout too. I just think it's funny how Democrats seem to be all for these Marxist policies but just refuse to admit that it is Marxism. They can't even be truthful to themselves. I don't need a book on economics to know Marxism when I see it. As far as polarization I again think it's funny that Democrats expect people to abandon their principles, morals, ethics and values to play nice with them while they loot the treasury. BTW, I was a registered Democrat for 29 years. I'm now a registered independent. Link to comment Share on other sites More sharing options...
DutchGT500 Posted November 14, 2008 Report Share Posted November 14, 2008 Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 14, 2008 Report Share Posted November 14, 2008 It was Marxism when McCain voted for the Wallstreet bailout too. I just think it's funny how Democrats seem to be all for these Marxist policies but just refuse to admit that it is Marxism. They can't even be truthful to themselves. I don't need a book on economics to know Marxism when I see it. As far as polarization I again think it's funny that Democrats expect people to abandon their principles, morals, ethics and values to play nice with them while they loot the treasury. BTW, I was a registered Democrat for 29 years. I'm now a registered independent. This isn't Marxism. We did this with Chrysler in the 80s (got all our money back) but now we have a huge global crisis. Not sure where you live, but guy in the house to my left was laid off, the guy two houses down on the right was laid off, the house three down on the right is in foreclosure. Across the street and two down on the right is in pre-foreclosure. Our sales are off, though with the industry we are in not as bad as many. The sad fact is the laissez-faire de-regulation of the past has put us in this mess and it's going to take some TEMPORARY radical measures to get us out. Link to comment Share on other sites More sharing options...
2007GT Posted November 14, 2008 Report Share Posted November 14, 2008 This isn't Marxism. We did this with Chrysler in the 80s (got all our money back) but now we have a huge global crisis. Not sure where you live, but guy in the house to my left was laid off, the guy two houses down on the right was laid off, the house three down on the right is in foreclosure. Across the street and two down on the right is in pre-foreclosure. Our sales are off, though with the industry we are in not as bad as many. The sad fact is the laissez-faire de-regulation of the past has put us in this mess and it's going to take some TEMPORARY radical measures to get us out. It is Marxism. We did NOT do this with Chrysler in the 80's. Chrysler was given federal loan guarantees. The government did not just hand them billions in tax payer dollars nor did they take an ownership interest in the company. They are also talking about three companies here not just one, plus the fact that Chrysler is being considered for these bailouts and it is a privately held corporation. They will take OUR money and hand it out to their shareholders. I say let the big three go under. Houses in my neighborhood are selling and none appear to be in foreclosure that I'm aware of. Nobody I know is in danger of losing their house. Even if they were, giving welfare to the big three wouldn't help. The government is largely made up of people who have never worked, never created anything, never run a business and have little to no common sense. Their tinkering with something they know nothing about (the economy) is going to make this recession/depression last much longer than it needs to. Link to comment Share on other sites More sharing options...
one_quik_pony Posted November 16, 2008 Report Share Posted November 16, 2008 It was Marxism when McCain voted for the Wallstreet bailout too. I just think it's funny how Democrats seem to be all for these Marxist policies but just refuse to admit that it is Marxism. They can't even be truthful to themselves. I don't need a book on economics to know Marxism when I see it. As far as polarization I again think it's funny that Democrats expect people to abandon their principles, morals, ethics and values to play nice with them while they loot the treasury. BTW, I was a registered Democrat for 29 years. I'm now a registered independent. Democrats LOOTING THE TREASURY? ARE YOU OFF YOUR F"N MEDS? Did you just wake up from a seven year coma? Could it be that you meant to say "...loot the treasury as the current administration has for nearly eight years and now there's no longer a pot left to piss in..", because then I would be OK with that. Sorry, had to add the fact that Henry Paulson has now changed his mind AGAIN about which of his banking buddies will get the "handout"...so they can now hoard the cash! Why isn't anyone concerned about this? Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 16, 2008 Report Share Posted November 16, 2008 It is Marxism. We did NOT do this with Chrysler in the 80's. Chrysler was given federal loan guarantees. The government did not just hand them billions in tax payer dollars nor did they take an ownership interest in the company. They are also talking about three companies here not just one, plus the fact that Chrysler is being considered for these bailouts and it is a privately held corporation. They will take OUR money and hand it out to their shareholders. I say let the big three go under. Houses in my neighborhood are selling and none appear to be in foreclosure that I'm aware of. Nobody I know is in danger of losing their house. Even if they were, giving welfare to the big three wouldn't help. The government is largely made up of people who have never worked, never created anything, never run a business and have little to no common sense. Their tinkering with something they know nothing about (the economy) is going to make this recession/depression last much longer than it needs to. Yeah, so far the free market has served us well...I think, dismissing your obvious disdain for people that choose to work in the government, that there people a lot smarter than us looking at this and what ever had been going on isn't working. You're lucky this economy hasn't hit you and people you know...at this rate though I fear it won't take long, so here's hoping something works! By the way, you still don't seem to understand what Marxism is and are using it to show something Marx wouldn't support! There is NO WAY Karl Marx would approve taking money from the working class (taxes) and giving it to the rich corporations. No way no how! He would consider that further exploitation of the working class and probably would be more on the side of those that want to see any bailout given to the people and not the companies. Marx is big on objecting to the exploitation of the working class of society by another and I'm sure would be right beside you objecting to giving these companies any money. In this case Karl Marx and you I think agree! :happy feet: Link to comment Share on other sites More sharing options...
ilmor Posted November 16, 2008 Report Share Posted November 16, 2008 GOP Lawmakers Doubt Auto Bailout Bill GOP lawmaker says the auto industry is a 'dinosaur' unworthy of Dems' federal government bailout proposal Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 17, 2008 Report Share Posted November 17, 2008 GOP Lawmakers Doubt Auto Bailout Bill GOP lawmaker says the auto industry is a 'dinosaur' unworthy of Dems' federal government bailout proposal Awesome! There go about 1.2 to 2 million jobs! We'll be at more than 10% unemployment with a HUGE ripple effect all through the economy. But here's a dirty little secret, there are some rich investors want these companies to go belly up so they can get out of the existing union contracts and retirement/pension plans, then come back go about business as usual. But the golden parachutes will be a flyin! Link to comment Share on other sites More sharing options...
GT500-07 Posted November 17, 2008 Author Report Share Posted November 17, 2008 Post-election session of Congress this week to decide fate of quick rescue for automakers Hardline opponents of an auto industry bailout branded the industry a "dinosaur" whose "day of reckoning" is near, while Democrats pledged Sunday to do their best to get Detroit a slice of the $700 billion Wall Street rescue in this week's lame-duck session of Congress. http://biz.yahoo.com/ap/081116/auto_bailout.html Link to comment Share on other sites More sharing options...
GT500-07 Posted November 17, 2008 Author Report Share Posted November 17, 2008 White House says it supports financial aid for auto industry, but not from $700B bailout plan With Congress returning Monday to deal with an auto industry in dire financial straits, the Bush White House stressed that it supports help, but not at the expense of the $700 billion Wall Street rescue program. With the Senate ready to start work on assistance to the industry, press secretary Dana Perino issued a statement saying the administration "does not want U.S. automakers to fail." She complained that reporting on the White House's statements on this issue has involved "attempts to shorthand the administration's position." http://biz.yahoo.com/ap/081117/congress_returns.html Link to comment Share on other sites More sharing options...
2007GT Posted November 17, 2008 Report Share Posted November 17, 2008 By the way, you still don't seem to understand what Marxism is and are using it to show something Marx wouldn't support! If the government takes an ownership stake in these companies, or tells them what to build, they have control of the "means of production". That is socialism/Marxism. Argue semantics all you want to try to put a happy face on it but that's what it is. These companies need to go tits up. My company isn't doing so well right now either but by God my wife and kids and me will live in a cardboard box before I take a nickel of welfare or a government handout. The automakers should do the same. Link to comment Share on other sites More sharing options...
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