Big 3 Auto Bailout?

Should taxpayers bail out the big 3 automakers as they asked for in DC this week?

  • Yes

    Votes: 44 26.2%

  • No

    Votes: 124 73.8%
  • Total voters
    168
Four Suns said:
How about we just hand them out to the top taxpayers?
Click to expand...

I'll go for that....along with one vote for every $10,000 you pay in Federal Income Tax....if we don't have taxation without representation we shouldn't have representation without taxation.....seems only fair to me....if you want to play you have to pay.:smt021
 
I'll let you know. I need to look up the numbers first
 
The UAW reminds me of Monty Python's Black Night:

[YOUTUBE]http://www.youtube.com/watch?v=2eMkth8FWno[/YOUTUBE]
 
well it looks like the bailout died last night. The Dow isn't reacting like I thought it would.
 
Four Suns said:
The UAW reminds me of Monty Python's Black Night:

[YOUTUBE]http://www.youtube.com/watch?v=2eMkth8FWno[/YOUTUBE]
Click to expand...

They cut out the best line:
"I'm not dead yet, my head's still attached to my torso"
 
Anyone listening to the whiner head of the UAW right now. This guy needs a cry towel....Wah Wah...The transplants are so unfair.......The Republicans are responsible for our current situation and will not help us out....What BS!!
 
Here it comes:

"The Bush administration said today it will consider using the money set aside to help banks and Wall Street to rescue the auto industry. CNNMoney reports that the statement -- a change in the administration's long-held position -- might provide the last best chance to keep troubled automakers GM and Chrysler out of bankruptcy"
 
TurtleTone said:
But it's a bridge loan, and they don't have to use it if they don't want to. But to say "No we don't need to have access to this loan" has me puzzled. Any business would like to have a loan available to them if they find they need it.
Click to expand...

But the borrower must balance the conditions attached to the loan against the benefit to be gained from borrowing the money. Sometimes independence and flexibility trump cash in the bank tied to government dependence and oversight.
 
The WSJ article is spot on. Tahnk God for the Reopublicans who have kept this nation from paying for the rest of time and stopping the nationalization of US industry.

Mr Salt
2001 540 CPMY
Caterpillar C-12s
Cape May, NJ
 
It's really interesting how the news is spinning this. Almost as if it's the job of the president to bailout the big 3. Government, the new CEO.
 
What do these guys think that "just get to January 20" will get them? They think Obama has some magic pixie dust he can fix their broken companies with?
 
Its not over yet..


WASHINGTON -- The Bush Administration said Friday it would consider the use of money from the Wall Street bailout to aid the domestic carmakers.

"Given the current weakened state of the U.S. economy, we will consider other options if necessary -- including use of the TARP program -- to prevent a collapse of troubled automakers," White House spokeswoman Dana Perino said in a written statement, referring to the Troubled Assets Relief Program, which has sent billions of dollars to troubled financial firms.

Perino said "it would be irresponsible" to allow the companies to fail amid the nation's economic troubles.



The Treasury Department said in a statement it is moving to prevent the collapse of automakers. "Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," the department said in a statement.

Full article here:

http://www.detnews.com/apps/pbcs.dll/article?AID=/20081212/AUTO01/812120416
 
Vince_nj1 said:
Its not over yet..


WASHINGTON -- The Bush Administration said Friday it would consider the use of money from the Wall Street bailout to aid the domestic carmakers.

"Given the current weakened state of the U.S. economy, we will consider other options if necessary -- including use of the TARP program -- to prevent a collapse of troubled automakers," White House spokeswoman Dana Perino said in a written statement, referring to the Troubled Assets Relief Program, which has sent billions of dollars to troubled financial firms.

Perino said "it would be irresponsible" to allow the companies to fail amid the nation's economic troubles.



The Treasury Department said in a statement it is moving to prevent the collapse of automakers. "Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," the department said in a statement.

Full article here:

http://www.detnews.com/apps/pbcs.dll/article?AID=/20081212/AUTO01/812120416
Click to expand...

See page 13
 
How can I keep multiplying money when it keeps getting divided?

Who do folks think is paying for this bailout? Where do folks think the $$$ are coming from? People, please ask the tough questions and open your eyes. Let the free markets take care of themselves.
 
Viva la revolution

If things keep going this way with papa guberment spending our money the wrong way time and time again, it may be coming.

Too long these career politicians have been working for themselves and their interests. Every day I get more tired of supporting them and the people they give money to.
 
Four Suns said:
What do these guys think that "just get to January 20" will get them? They think Obama has some magic pixie dust he can fix their broken companies with?
Click to expand...

I'm guessing the big bailout money will come from the Dems after Jan 20. Then the Dems can be seen to have rescued the country. It will be interesting to see what concessions are demanded as part of the bailout. At a minimum you would expect to see:

1. Restructuring with new top management.
2. Significant reduction in wage, pension and health care agreements.
3. Dramatic reduction in product lines.

Hard to see the second item happening, given the union influence on the Dems.

Perhaps chapter 11 is needed as a starter.
 
Jacob said:
I'm guessing the big bailout money will come from the Dems after Jan 20. Then the Dems can be seen to have rescued the country. It will be interesting to see what concessions are demanded as part of the bailout. At a minimum you would expect to see:

1. Restructuring with new top management.
2. Significant reduction in wage, pension and health care agreements.
3. Dramatic reduction in product lines.

Hard to see the second item happening, given the union influence on the Dems.

Perhaps chapter 11 is needed as a starter.
Click to expand...

"what concessions are demanded as part of the bailout"

Concessions after January 20, 2009? I seriously doubt it. As of that date, if I make $2 an hour and you make $1 an hour I will owe you .50 cents.
 
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