Comments on: Rewarding Failure: Why Stop With Big 3?

With Tongue In Cheek, Declan McCullagh Urges Treasury Chief To Bail Out Everybody

[armandbeni]

Rewarding Failure has become the American way!
If we didn''t reward failure, we would have to fire congress and close every federal program!
Congress is packing up for another vacation, never mind that the country is in crisis, and they once again failed to solve anything. It''s time to jet off home for the holiday and they won''t get back till next year.
It appears that the mortgage brokers bought more of congress than the big three. Now the big three are going to pay the price. Bail out the suits on wall street and the bankers that committed banking fraud but not the auto industry where you may save some blue collar jobs. Personally I wouldn''t have bailed out anyone but if your going to bail out Bankers why not Industry, at least Industry actually produces something other than an illusionary balancesheet

I guess congress is counting on the American people quietly lining up in bread lines like they did in the depression. America has changed since then, maybe they will figure out that they failed when the cities are burning and riots break out around their mansions.

[terrapin78]

I was just charged an over draft fee
& in my jealous rage I could certainly strangle
a few bankers, but I have taken anger management,
however there are plenty of people who have not.
Does that mean blood in the streets.
How to control the pissed off poor?
Most poor people are black.
The new president is black,
Coincidence ???

Posted by Markangeloo at 09:39 AM : Nov 20, 2008


Show some statistics and state the source to show what you assert- That most poor people are black.

Otherwise, I''d say this is just a plain racist remark.

[grigjd3]

I would agree with you amrt except that $25 billion isn''t the real cost of the bailout. The American automakers have horrible business practices. The long term effect of letting them continue on this line is terrible for the economy. As of yet, I have seen no plan for how they will be profitable again. This bailout just pushes the window of when they will fail back a couple of months.

[doctxt]

EQUATION OF THE DAY:
FED LENDS OUR $ TO BANKS FOR 1% (PLUS) WE BORROW FROM BANKS @ 10 TO 20% (PLUS) 8% TAXES (EQUALS) WE FOREVER LOSE (PLUS) FED & BANKS WIN (MINUS) TRUTH (EQUALS) DEPRESSION (TIMES) MORE LIES (EQUALS) POLITICIANS (PLUS) INVESTORS (DIVIDED BY) GREED (MINUS) LAW (MINUS) GOD (EQUALS) REVOLUTION!!!

EQUATION EXPLAINED:
10 YEARS AGO-ALL OVER THE NEWS-"PEOPLE HAD TO CHOOSE-MORTGAGE PAYMENTS OR GAS FOR CARS". THEY CHOSE GAS-THE MORTGAGE INDUSRTY CRUMBLED-FED SAYS SOME FAULTY PAPER AGREEMENT BETWEEN BANKS AND INVESTORS CAUSED IT-WHEN HIGHLY PAID FEDERAL ECONOMIC GURUS LOOKED THE OTHER WAY-OIL COMPANIES REAPED $60 TO $80 MILLION A YEAR (TIMES) 10 YEARS = $800 MILLION (ONE COMPANY ALONE)-NO WONDER THE %u201CFAILOUT PLAN%u201D IS NOT ENOUGH%u2026 FORESIGHT AS GOOD AS HINDSIGHT-WHATEVER IT IS, THE PEOPLE MUST NOW PAY FOR IT.

FAILOUT PLAN IS TO BAIL OUT ILLEGAL IMMIGRANTS WHO BOUGHT AMERICAN SOIL VIA FANNIE AND FREDDIE-THEY GOT BAILED OUT FIRST TO COVER TRACKS, PLAN NOT WORKING FOR ANYONE ELSE. AFTER GOV%u2019T APPROVAL & MAE, MAC BAILOUT - GURUS CHANGE- WANT TO INVEST IN BANKS INSTEAD OF HELPING PEOPLE-NOW GURUS ADMIT ECONOMY IS IN A SLOWDOWN.

PRICE OF OIL COMES BACK DOWN, CONSUMPTION NEVER CHANGED.

ABORTION IS OK, BUT THE BILL IS ON FUTURE GENERATIONS THAT WILL BE KILLED, AND THEY ROB THE RETIREMENT EGGS OF US ALL.

THIS IS WHY WE HAVE AN ELECTORAL REVOLUTION-PEOPLE WANT CHANGE-IT WILL NOT COME FROM POLITICIANS.

THIS IS A BALANCED BUDGET-FOR THE GREEDY!

[amrt5016]

The issue here is whether the situation of the automakers is similar to the situation of financial innstitutions like Fannie Mae, Freddie Mac and even AIG where failure presents us with costs to the economy that exceed the amount of the bailout. If so, then the argument for bailing them out is a good one. There is no other consideration.

[kyslugbug]

I''ve got a couple of web sites that are going kind of slow. Need more "Ads by Googles" clicks!
Where do I sign up for this bail out money?
Gimme some cash!

[rjs1955]

Good work bobnjersey, I agree.

Europe has never let the bulls loose completely in their economy. America has ridiculed France and Germany for many years. Europe''s way is not boom or bust. There is no foreclosure crisis there like here. Everyone has health insurance and education through grad school for free, they have a real retirement system that matters and provides plenty. Hell, wine is still cheaper than coca-cola in Paris restaurants, and I can stay at a really nice Comfort Inn in Paris for less than in Marion, Illinois near a federal prison!! Europe has cosen a more measured but more secure path to societal and economic stability. We need to also.

[bobnjersey]

[It would be shortsighted to stop at GM, Ford, and Chrysler. My modest proposal is that plenty of other nondeserving companies could use a helping hand. ]

the current state of things are a clear sign that the free market isn''t as pure and self sustaining as has been promoted for the last hundred years. even alan greenspan ... the protege of ayn rand ... one of the most fervent proponents of the laissez faire model of capitalism ... a champion of the idea that capitalism cures all ills ... begrudgingly admitted in testimony a few weeks ago that there may be a small flaw in the model (how modest of him).

instead of viewing all these troublesome conditions as a ''bailout'' ... it should be viewed as an opportunity to change the way these companies do business ... change their approach ... make them capable of dealing in the current environment. give them the assistance ... but insist that it''s contingent on changes to the way they do business ... and it should include all the players ... including the uaw.

the free market model is failing ... and those that keep chanting it''s mantra ... ayn rand''s mantra ... will be the one''s responsible for the complete failure of the american economy ... with the belief that this will serve everyone better.

it''s not about the model ... it''s about what the model provides for the society. the model should be shaped and molded to serve the society ... not the other way around.

[markangeloo]

I was just charged an over draft fee
& in my jealous rage I could certainly strangle
a few bankers, but I have taken anger management,
however there are plenty of people who have not.
Does that mean blood in the streets.
How to control the pissed off poor?
Most poor people are black.
The new president is black,
Coincidence ???

[rjs1955]

In only 4 months, Chrysler designed from scratch and was mass producing the M-3 tank in 1941 for the Len-Lease Act. They and the other of the Big 3 all made helmets, guns, aircraft parts, and even the planes thmeselves, other tanks... Chrysler made the B-25 bomber... most all of this conversion happened in about a year or so. Auto production for civilian purposes pretty much stopped.

Why can''t that happen now?? Shut down the production of SUV''s. Close the door on this wasteful era of gas-guzzling idiocy. Open the files on concept cars that we have already seen... make deals with the VW Group, Mercedes, Silicon Valley think tanks, MIT physicists and engineers and get cars in the showrooms that get mileage like the new VW diesel Jetta and Polo, the Toyota Prius... cars that look good and make a statement... and make OPEC start eating their own oil on toast for breakfast... well, that won''t happen, but everyone is whining and everyone is concerned about one ox getting gored while the rest of the herd is running over the cliff...