What is Digg?274 Comments
- inactive, on 09/25/2008, -3/+197“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson
- TheStamp, on 09/25/2008, -1/+84Absolutely incredible! It's a complete cash grab from the Gov't to whomever is not doing well financially! I had better start up a company with millions of shares, claim that it's not doing so well and that America needs the company to stay alive, and live off a low-interest billion dollar credit!
If nobody can pay the credit debt, the obviously companies can't either! Why don't we each borrow 3,000 from the gov't to cover the tax? Let's see how long this maze goes! - ninjarabbits, on 09/25/2008, -2/+71"The legislation came together in a remarkably secret process that concentrated decision-making power in the hands of a few lawmakers. They include House Appropriations Committee Chairman David Obey, D-Wis., and House Speaker Nancy Pelosi, D-Calif.
Republicans blasted the process by which the measure came before the House. Lawmakers had just a few hours to scrutinize the 357-page measure -- along with 752 pages of accompanying explanations and tables of previously secret pet projects -- before the vote. Debate lasted less than one hour.
The rush also ran counter to Democratic promises for more open disclosure of billions of dollars worth of home-state pet projects sought by most lawmakers."
Fan-*****-tastic. - richmomz, on 09/25/2008, -1/+61There's a massive oil pipeline that goes through the country, and it's the only route through which we can get Caspian Sea oil without going through Russia.
Oh, did you mean the official explanation? "It's to defend our peaceful democratic friends and allies against terrorist separatists and Russian aggression", and, uh... yeah. - richmomz, on 09/25/2008, -4/+58Because this sets a precedent where EVERY corporation is going to come looking for a handout when they get in trouble. If we were the capitalist, free market nation we claim to be we would let these failed corporations die so that a better, more efficient competitor may take their place. Instead we are pouring more and more of our capital into these failed businesses and fraudulent financial institutions and destroying our economy in the process.
Free market capitalists we are not. - freakstyle571, on 09/25/2008, -2/+49"Georgia would receive $365 million in economic help to recover from the recent conflict with Russia."
Excuse me? Ummmm, why are we sending them this money? Someone care to explain this bit to me? - ferrisnox, on 09/25/2008, -0/+45Time to create a new government, this one sucks.
- mytCbumps, on 09/25/2008, -5/+40Why rescue two of the crappiest car makers on the planet???
- Yatata, on 09/25/2008, -1/+29wow, and this coming from a guy who said, quote: "obama is a stupid negro though. no need to be sensitive around here, just ohnest..."
- strifeprime, on 09/25/2008, -1/+28I thought being a Communist would feel different....
- failedpimp, on 09/25/2008, -0/+26Vote every single ass hat in congress that signs off on these bailouts out of office. That's the kind of change we need!!!! I'M MAD AS HELL AND I'M NOT GONNA TAKE IT ANYMORE!!!
- JDoorjam, on 09/25/2008, -0/+26The taxpayers have become the latest "innovative financial instrument."
- Sp0rAdiC, on 09/25/2008, -3/+28Unrealistic? There were 40+mpg cars 25 years ago, how is asking that today so unrealistic?
- TheWriteGuy, on 09/25/2008, -0/+23Earth to Ford and GM: Nobody wants to buy your ***** cars anymore. And neither should the taxpayers be expected to support your failing businesses.
- thealsir, on 09/25/2008, -1/+24*gasp*
http://finance.yahoo.com/q?d=t&s=gm
Look at that EPS number! They're losing like 50 billion dollars YTD.
Such a company should not be in business. - MikeCowen, on 09/25/2008, -2/+22In the midst of all this hugging around the campfire that is our economy it's nice to know it is still business as usual
- richmomz, on 09/25/2008, -1/+21Indeed, but lucky for them they are "too big to fail." After years of multi-billion dollar losses their credit rating has been reduced to junk bond status and they would be forced to pay huge interest rates if they borrowed from the free market - fortunately they have lots of nice friends in Washington that are more than happy to give them OUR money at much lower rates (possibly at a loss if we have to borrow the money from Russia or China at a higher interest rate than we're giving GM, or from inflation if we just 'print' more).
- failedpimp, on 09/25/2008, -0/+20I can't wait for some of this bailout money to trickle down to me. Oooh look a penny!!!!
- inactive, on 09/25/2008, -1/+20Historian Gaetano Salvemini argued in 1936 that fascism makes taxpayers responsible to private enterprise, because "the State pays for the blunders of private enterprise... Profit is private and individual. Loss is public and social."
- hugolp, on 09/25/2008, -0/+19No, you have to be friends with the FED to get the bailout.
- getatmedigg, on 09/25/2008, -1/+20Slave state. I swear, what will it take America. Hey, at GM you pay what our employees pay for a car, and then, America will pay them back through taxes. Its a scam. I welcome a depreesion so we all can go back to zero and return to the gold standard.
- inactive, on 09/25/2008, -0/+19dissing Jefferson??
You realise that you have absolutely no ***** credibility at all, don't you? No Republican worth his salt would back you up on that.
Desperate, mega fail. - odigity, on 09/25/2008, -1/+19No, they should not have done this in the first place.
- mshtml, on 09/25/2008, -1/+18Yeah I'm sure they'll pay that right back.
- failedpimp, on 09/25/2008, -0/+17You/re right. But I'll still be mad.
- L7square, on 09/25/2008, -2/+19Republicans , Democrats there may be some differences but not when it comes to selling out the American tax payer. This has got to stop. It was the savings and loan banks and Chrysler getting bailed out in previous years.Now its more financial company's and GM the more things change the more they stay the same.
- gatparker, on 09/25/2008, -1/+18Well.. I guess it's official. Time to stop paying taxes.
- richmomz, on 09/25/2008, -1/+19I posted this earlier but it's worth repeating--It's a "bailout" in the sense that instead of getting their loan from the free market via corporate bonds like everyone (which would have required them to pay a much higher interest rate since their credit rating is in the toilet after years of multi-billion dollar losses) they went crying to the government for a low interest loan to prop up their failing business. A smaller company would have been brushed off and told to go die in the corner, but lucky for GM and Ford they are "too big to fail" and so they can get cheap money from the taxpayers anytime, no matter how bad they screw up. And since we're loaning them money that we don't have, the taxpayers end up subsidizing the interest difference, either through higher interest rates owed to a foreign lender (China, Russia) or through skyrocketing inflation if we print more money.
- richmomz, on 09/25/2008, -2/+18It's a handout in the sense that instead of getting their loan from the free market via corporate bonds like everyone (which would have required them to pay a much higher interest rate since their credit rating is in the toilet after years of multi-billion dollar losses) they went crying to the government for a low interest loan to prop up their failing business. A smaller company would have been brushed off and told to go die in the corner, but lucky for GM and Ford they are "too big to fail" and so they can get cheap money from the taxpayers anytime, no matter how bad they screw up. And since we're loaning them money that we don't have, the taxpayers end up subsidizing the interest difference, either through higher interest rates owed to a foreign lender (China, Russia) or through skyrocketing inflation if we print more money.
- locojones, on 09/25/2008, -0/+15Actually, Toyota manufactures its cars and parts in 13 plants across America. They purchase most of the component parts from American suppliers, and spent about $30 billion dollars in this country last year. They assemble a little under 2 million cars per year in this country and employ roughly 35,000 Americans. So yeah, i think Toyota does care about America.
In fact, I think Toyota cares more about America than most American car manufacturers. There are so many American manufacturing plants in Mexico, that the town of Saltillo, MX is routinely referred to as the "Detroit of Mexico." Next time you should look at the manufacturing sticker inside the door of your vehicles. I can guarantee your Toyota was built in America, while your Dodge was built south of the border by those dirty immigrants the US likes to decry so much. - Estaris, on 09/25/2008, -0/+13Can the government bail me out? We still have a house for sale in Michigan and we had to move because of no job opportunities in our field there. Won't be 700 billion, just a measly 149k, what we owe on it. The market worth for that home now is 119 and less... check or cash NP! KTHX! LUVYA!
- Sryden42, on 09/25/2008, -1/+13Nah, this is pretty much exactly what I thought living in a communist country would feel like.
- bjornski, on 09/25/2008, -1/+13"The fundamentals of the economy are strong!"
- BigManOnCampus, on 09/25/2008, -1/+13wow, I SOOOOO hate pelosi. I really ***** hate that bitch. She has never said, nor done *anything* that I've agreed with.
- yoda17, on 09/25/2008, -0/+12This
http://en.wikipedia.org/wiki/Chrysler#Government_l ...
set the precedent. And back in the day was major news for a very long time. - YodaJones, on 09/25/2008, -2/+14In your dreams. The only place these pieces of ***** sell is in America. American cars, not that American auto companies make many "cars" anymore, are the laughing stock of the global automotive industry.
For crying out loud, the Korean automotive industry was born grew up and passed America up on all fronts of automotive technology and quality in 20 years. - LilRabbitFooFoo, on 09/25/2008, -4/+15All the Fat Cats want their last gasp graft before the administration changes over...
- inactive, on 09/25/2008, -1/+12At first all this ***** just made me mad, now I get this slightly uneasy nauseating feeling in my stomach and I start to just feel really sad. Hard times ahead, hard times ahead.
- kingatrock, on 09/25/2008, -0/+11and now our debt.
- bjornski, on 09/25/2008, -2/+13Yes you will.
- MrSteamTank, on 09/25/2008, -0/+10Oddly enough, outside of the USA, Ford and GM make pretty good fuel efficient cars. They just don't bring them over to North America.
- vi0letruby, on 09/25/2008, -0/+10Wow. Seriously, it's like watching a train wreck in action.
- kawaiirobo, on 09/25/2008, -1/+11GODDAMNIT!
- lynxminus, on 09/25/2008, -0/+10WTF... really?? How is this even possible. How do we allow this sort of thing to happen???? At what point do we actually recognize how both parties are so corrupted by greed and personal ambition that we've been blinded by this masquerade of "Ill tug yours if you tug mine" mentality. We get so caught up in the constant bickering between the parties that we align ourselves on one side or the other and fail to see that it is all a show. One big ***** ploy.
A viable third party absolutely must emerge if we ever want to have accountability in our system. The problem is that at this point we all too often vote for one of the major parties simply out of fear that the other is that much worse, when in reality it's almost always close to a wash. This false perception of "no other option" is the great rouse of our democracy. It truly saddens me. And no Im not a Paul or Barr fanatic, Im just sick as ***** of ignorance and apathy in politics. - bjornski, on 09/25/2008, -0/+10Sadly, as a Demo, I'm not far behind you.
- KiDMAJORA, on 09/25/2008, -0/+9Why the HELL would you compare Jefferson to Hitler and expect anyone to take you seriously? There is no good answer to this. Just sit in the corner and shut the ***** up. Idiot.
- roodammy44, on 09/25/2008, -0/+9The dollar seems to be worth less and less every day with these meaningless creations of money.
I think the whole concept of fiat money is straining when they act like this - Grym11, on 09/25/2008, -0/+9Why should we trust the people who just until last week claimed all was well that the economy is strong and the free market will prevail?
Those who have predicted this disaster are the very people saying that this bailout is a bad idea and will only make things worse in the long run. -
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