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- Ghoztt, on 12/19/2008, -19/+323RAAAAAAAAAAAAAAAGE!!! Stop giving my money to people who don't know how to run their business!
THEY ARE JUST GOING TO RUN THEIR BUSINESS IN THE GROUND AGAIN!!! - anarcurt, on 12/19/2008, -9/+20717 Bil is nothing.... that'll be the price of a loaf of bread next year.
- damircea, on 12/19/2008, -43/+216Welcome to Socialism ladies and gentlemen!
- MrCoke, on 12/19/2008, -41/+194I WILL NEVER BUY AN AMERICAN CAR FROM THE BIG 3
- lilhobo, on 12/19/2008, -5/+130George Carlin said it best:
"The real owners [are] the big wealthy business interests that control things and make all the important decisions. Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice. You don't. You have no choice. You have owners. They own you. They own and control the corporations. They've long since bought and paid for the Senate, the Congress, the state houses, the city halls, the judges. And they own all the big media companies so they control just about all the news and information you get to hear. They spend billions every year lobbying to get what they want. Well we know what they want. They want more for themselves and less for everyone else. They don't want a population of citizens capable of critical thinking. They don't want well informed, well educated people. That's against their interests. They want obedient workers." - Saad, on 12/19/2008, -9/+131Here we go again......
- garryw, on 12/19/2008, -3/+98In Soviet America, car own you.
- naturalpapa, on 12/19/2008, -10/+100Let's throw more money at the problem, that'll work...
- PabloMac, on 12/19/2008, -1/+87Ford doesn't need a bailout.
- MWeather, on 12/19/2008, -9/+83It's not Socialism, it's Corporatism, more commonly known as Fascism. Though I suppose Corporatism is a form of Socialism. In fact the most famous example of Fascism called itself National Socialism.
- inactive, on 12/19/2008, -2/+65Now wait a second. Ford didn't take any money!
- inactive, on 12/19/2008, -3/+64How is this NOT a failure of checks and balances? Congress denies a bailout for the auto industry, so the President goes right ahead and uses part of the money given to the banks (supposedly).
Really?
While I'm at it, can we find out what happened to the $8 trillion that was the Bank bailout? Enough of congress saying "There wasn't enough oversight", we knew that before you voted to pass it! Can someone PLEASE tell everyone where that money went, EXACTLY? - JohnGotty, on 12/19/2008, -6/+59^ it pains me to say it...but yeah, that's probably accurate.
- bmatherlyjr, on 12/19/2008, -8/+59Hmm, I don't know - Let the automakers find suitors to buy their failing companies?
- StingingNettle, on 12/19/2008, -6/+53Obama just praised Bush on the auto bailout. And he voted for 800 bailout for the banks. But yes you are correct. Bush is a socialist big government spender. Now digg me down for not praising Obama.
- tomz17, on 12/19/2008, -5/+50State ownership of industries that are not profitable in a free market... hmm...
- BuzzEdition, on 12/19/2008, -9/+51FTA:
Mr. Bush, in a televised speech before the opening of the markets, said that under other circumstances he would have let the companies fail, as punishment for bad business decisions. But given the economic downturn, he said the government had no choice but to step in.
I actually heard the press conference, and for once, I honestly feel that Bush said this perfectly.
Big Business can not continue doing business as if they are rich, when they are actually broke. They need to cut their undeserved salaries and bonuses since they do not deserve them. They are responsible for the failure of the company. - kenedamick, on 12/19/2008, -9/+40Who was saying Obama was a socialist again?
- inactive, on 12/19/2008, -2/+30Ford refused it. I might buy a Ford now, the other 2 no way in hell.
- MrCoke, on 12/19/2008, -12/+40American cars have not improved in 15 years. no reason to expect them to now. euro/jap cars are in a different league.
- tomz17, on 12/19/2008, -4/+31That's why banks and investment firms were falling over each other to give the automakers a loan this ti... oh wait...
- schnikies79, on 12/19/2008, -1/+27So GM will fail in 3-6 months instead of the end of the year. Ford will be okay. Chrysler? Who knows..
It puts off the inevitable and solves nothing. - dreid1987, on 12/19/2008, -3/+29Ford didn't take any bailout money. Looks like the make of my next car has been determined.
- garryw, on 12/19/2008, -21/+46This is horrible. My tax dollars are now being directed to the wallets of UAW workers and their 30 day paid vacation. This wont solve anything, as the terminator said, they'll be back. Who wouldn't go crawling back for money, of course they'll go back to the tax trough again and again.
All Bush did is stop the bleeding for 1-2 months, it's not over. Now Obama has to end this. - garryw, on 12/19/2008, -7/+31The source of the loan makes it socialism. Think.
- ebolaworld, on 12/19/2008, -3/+26Oh yeah... I'm sure they'll pay us back.
- aimhelix, on 12/19/2008, -5/+26His money, his choice and his opinion. And I can understand why.
- Nlewis4, on 12/19/2008, -12/+33obama would have done the same thing so he still is
- Shiner76, on 12/19/2008, -6/+26This deal is probably crap - and no one will read through what will probably be hundreds of pages of ridiculousness to get to the fact that nothing will change. The two key conditions need better analysis - reducing debt obligations by two-thirds and lowering wages for the unions. They should put the debt-to equity obligations in the hands of the employees in exchange for reduced wages (particularly on the non-production side of the fence for the latter). If the employees move the company into profitability, they should be the ones rewarded first for their efforts through equity in the companies.
- inactive, on 12/19/2008, -3/+22Bailing out anyone is economically wrong, and actually counterproductive.
However providing loans is not a bailout.
So please read... the bold print... it's not even hidden !!
Notice how the automakers are actual companies that provide jobs and products and cost 18 billion as a loan.
This, while Fannie Mae and Freddy Mac were pretty much given 700 billion as a slush fund and not a flat out loan. - alais, on 12/19/2008, -5/+24I missed the part where a job in Michigan is worth more than a job in any other state.
- anarcurt, on 12/19/2008, -0/+19In the short term deflation is somewhat of a worry however the M1 physical money supply has been tripled by the Federal Reserve over the last 6 months. The total M3 money supply has expanded by at least double (though exact figures are no longer known since the Fed stopped releasing this number in April). There is a bubble forming in treasury bonds as foreign investors have sought out 'safety'. The yield on government debt is zero. This cannot last. When the government dumps all that new debt from all that spending on the market it will collapse the new bubble. All the money that has been coming in, propping up the dollar, will be taken back out collapsing the dollar. It might not be next year but within 5 years there will be massive inflation. If it gets real bad we could have Weimar hyperinflation (a postal stamp in Weimar Germany exceeded 1 Billion Marks). Either way any short term deflation concerns will be surpassed by the inflation to come.
Is that enough rationale? - shimmyNshake, on 12/19/2008, -13/+31***** the unions. They're nothing more than shakedown artists.
- BoneheadFarker, on 12/19/2008, -1/+19And Chrysler? Isn't Chrysler owned by a corporation with tons of money?
- inactive, on 12/19/2008, -9/+26They only valid option is bankruptcy. They way can shed the Unions cancer-like contracts.
- SuperVepr308, on 12/19/2008, -2/+19OK, I have to ask. Are the unions making concessions (real ones) or are we just signing a big check over to the UAW? I fear the latter.
- jayselle, on 12/19/2008, -8/+25You didn't buy our crappy cars, but we'll be taking your money anyways.
- garryw, on 12/19/2008, -4/+21He accomplished nothing, but gave just enough to punt this to the next administration. 17.4B will buy them 2 months, no more.
- vtnerd, on 12/19/2008, -1/+18lmao at you for thinking Obama is going to stop this bailout.
- blackgt93, on 12/19/2008, -0/+16What if my boss did something retarded and the company went under? What about my job?
What makes my single job any less important than that of a UAW worker? Sheer numbers? Please...
If the company you work for is run by idiots expect to lose your job. - Turbojugend27, on 12/19/2008, -8/+23Their companies aren't failing, the upper management is getting paid millions more than the company is making. Plain and simple.
- garryw, on 12/19/2008, -3/+18"will save over a million workers in supporting industries"
If only that were true. They are still doomed until they get their act together. Putting a band aid on a cancer victim. This fixes nada.
CUT THE TUMOR OUT ! - WhiZa, on 12/19/2008, -3/+17That shoe would have knocked some sense into him
- bmatherlyjr, on 12/19/2008, -4/+18I've never complained about Americans losing jobs. It's part of the free market, you get hired - your company's management makes bone head decisions - you get laid off. It's a normal progression of the life cycle of someones tenure in the job force. I'd rather lay off those that were directly involved with the company then pass the buck to countless millions of other individuals had no part of it whatsoever, and force them to finance their restructuring process.
- FeebleGenius, on 12/19/2008, -5/+18I'll withhold judgement until mid 2009. I hate that we're just handing them free money because they backed themselves into a corner...yet there is potential that if these 2 go under and the companies get split up and sold that a large number of US jobs will go overseas. Bad news, that. All I can say is that there better be some drastic changes in both companies in the next few months.
AND HEY! THERE'S A BRIGHT SIDE! At least we're using pre-existing non-existent money instead of coming up with NEW non-existent money!
(*****.) - inactive, on 12/19/2008, -6/+19I actually agree with you, and (I can't believe I'm saying this right now) Mr. Bush.
- specialK16, on 12/19/2008, -2/+15I wouldn't buy a crappy car just to "help" the "nation".
- garryw, on 12/19/2008, -1/+14^^ Just like AIG and Lehman Brothers will.
- inactive, on 12/19/2008, -0/+13The united states of Zimbabwe?
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