Comments on: Debts May Roadblock Auto Bailout

Automakers, Set To Beg Congress For A Handout, Have Billions In Debt To Contend With

[jerr11]

Posted by Edward1975 at 01:05 AM : Dec 02, 2008


It was Truman who said "the buck stops here."

With Bush, the buck stops everywhere except at his desk.

But what can you expect from a guy who went to Alabama to defend the country against the Vietcongs?

[edward1975-2009]

Jerr11: Certainly you jest. Congress holds the purse strings and passes law. Right disgust, wrong target. Congress has failed and don''t hold your breathe thinking it''s about to get better. It isn''t.

[jerr11]

The Bush admin is one huge Santa operation.

First they gave away billions to Halliburton in a phony war.

Then they gave away 600 billion to the drug companies in a phony medicare drug plan (with no price negotiations!)

Then it was the 700 phony bailout otherwise known as the giveaway to the banks.

Now it''s billions more for the auto companies.

It''s Merry Christmas, folks!

It''s Uncle Sam with money to give away.

Who''s picking up the tab for this neocon spending spree?

So far over 8 FRIGGING TRILLION!

Our kids and grandkids!

Heckuva job, Bush!

Mission Accomplished!!

[incog-nito]

We need to abandon the entire technology and do something else. This just isn''''t working!

Posted by downtowner97 at 11:32 PM : Dec 01, 2008

The fact is, we will do something else when the oil runs out and it''s no longer economically feasible to drive a combustion-engine vehicle. Until then, nothing will change. That''s just the way things, and people, are.

[harp1963]

A close relative of mine works on the estate for a American family that is well into the top of the top 1%. I have glimpsed into this world and these people are pigs feeding on the hard work of struggling Americans. I would rather spend my life homeless then like these pigs prior to standing before Jesus.

[faletinme]

Funny, it seems that only the union-infested car makers are begging in Washington. It''ll be entertaining to watch union officials explain to the membership why it was in their interest to bleed their ex-employers dry for all these years.

I do smile when I think about Jimmy the $125k/yr high-school-dropout-lugnut-tightner trying to apply his manual skills elsewhere.

Hey, aren''t those unions all democrat? Now that is priceless! I think I''ll drive a Honda rather than shoddy union-made products.

[ocasanas]

Finally a picture of the three BIG SOMETHING were they aren''t smiling anymore. Perhaps they know something that we don''t know. :-)

[edward1975-2009]

jcortney1: There isn''t a sane person who thinks any of these bailouts are good or will work. You can''t continue throwing good money after bad. And the business practices of Wall St. and Detroit, should not be rewarded with any taxpayer monies. If this Congress had one ounce of integrity, they would let the chips fall where they may, and let a few of these CEO''s jump off a few ledges. But to punish taxpayers for the greed of these execs is just wrong, on any level.

[jschmidt27]

mr.meat- if you hire all the management and workers, who can you hire that knows how to build a car or run a company?

[mrmeatspin]

fire the management and fire the union workers..

keep the name..keep the assests..

hire new managment..rehire workers without union ties..
pump out good cars

problem solved in about 5 years

[jschmidt27]

iwas hungry- gramm-leach-billey- Billey was a Democrat. The bill was supported by Clinton and his then Sec of Treasury Rubin. Barney Frank did prevent regulation of Fannie while taking campaign contributions from them. So it is all true. Unlike what Pelosi ranted about. The Dems watch it all happen and did nothing and if I were a betting man I''d say it was to make the Republicans look worse for the election.The Dems will never escape their responsibility for this.

[downtowner97]

The piston climbs in the cylinder, pushing out exhaust gases, then as it reaches its arc, a the exhaust valve closes, the intake valve opens, and the piston draws in a mixture of gasoline and air, just like a syringe drawing up a dose of heroin. The valves close, the piston compresses the volatile mixture, then BOOM!, the fuel/air mixture explodes, moving pushing the piston down, forcing the car forward several inches, and the cycle begins again.

We''re all convinced that this is the best way to get around, and that we need to keep moving ourselves this way forever, no matter how many people have to die to keep bringing us that precious gasoline. The big three auto makers love making internal combustion engines. They see no need to try anything else.

We need to abandon the entire technology and do something else. This just isn''t working!

[jcortney1]

You guys are missing the point. Who gets hurt if they are forced into the can? It''s not top management, it''s all the folks that worked and have worked for them and their suppliers. The bankruptcy will end pensions and legacy healthcare, force millions on to the unemployment rolls and create far more foreclosures than the subprime fiasco.

Sure, there''s been excesses and poor management but it pales in comparison to the outright theft to the wall street folks and no one seems to bat an eyelash over that.

[jcortney1]

You guys are missing the point. Who gets hurt if they are forced into the can? It''s not top management, it''s all the folks that worked and have worked for them and their suppliers. The bankruptcy will end pensions and legacy healthcare, force millions on to the unemployment rolls and create far more foreclosures than the subprime fiasco.

Sure, there''s been excesses and poor management but it pales in comparison to the outright theft to the wall street folks and no one seems to bat an eyelash over that.

[jcortney1]

You guys are missing the point. Who gets hurt if they are forced into the can? It''s not top management, it''s all the folks that worked and have worked for them and their suppliers. The bankruptcy will end pensions and legacy healthcare, force millions on to the unemployment rolls and create far more foreclosures than the subprime fiasco.

Sure, there''s been excesses and poor management but it pales in comparison to the outright theft to the wall street folks and no one seems to bat an eyelash over that.

[tallinson]

I am ecstatic. Couldn''t happen to "nicer" guys! Those sheisters at GM screwed me with, not one, but TWO of their garbage diesels and then, when I had trouble with them, told me, in essence to go flake off. THERE IS A GOD, AFTER ALL. I LOVE it.

[edward1975-2009]

Let these mismanaged companies exhaust all avenues before asking for taxpayers monies. And the government should require them to do just that. Had they made these cuts and concessions before, they probably would not be where they are today. What a shame these execs will have to travel on domestic flights, poor little fellas.

[jschmidt27]

Iwashungry- sorry the Progressive wasn;t covering the Democrats responsibility for the mess. But if you research the IBD article independently you''d find what it says is true

[jschmidt27]

http://ibdeditorials.com/IBDArticles.aspx?id=313027333411197
Here at IBD, we''ve done more than a dozen pieces %u2014 most recently, in yesterday''s paper %u2014 detailing how rewrites of the Community Reinvestment Act in 1995 under President Clinton, along with major regulatory changes pushed by the White House in the late 1990s, created the boom in subprime lending, the surge in exotic and highly risky mortgage-backed securities, and the housing boom whose government-fed excesses led to inevitable collapse.


Bush''s first budget, written in 2001 %u2014 seven years ago %u2014 called runaway subprime lending by the government-sponsored enterprises Fannie Mae and Freddie Mac "a potential problem" and warned of "strong repercussions in financial markets."

In 2003, Bush''s Treasury secretary, John Snow, proposed what the New York Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago." Did Democrats in Congress welcome it? Hardly.

"I do not think we are facing any kind of a crisis," declared Rep. Barney Frank, D-Mass., in a response typical of those who viewed Fannie and Freddie as a party patronage machine that the GOP was trying to dismantle. "If it ain''t broke, don''t fix it," added Sen. Thomas Carper, D-Del.

[cariboubarbi]

Why does an executive that drove a multibillion dollar business into the ground still have a job much less a corporate jet or even a roof over his head?

These guys should be living under a bridge.