A $25 Billion Lifeline for GM, Ford, and Chrysler

Hvcersek

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Hvcersek of MT @ Jul 15, 2009 17:18:47 PM

Concept Cars

BMW is a German automobile and motorcycle manufacturing company. It is known for its performance and luxury vehicles. Audi often finds itself in the shadows of Mercedes and BMW, but it emerges from the shadows.

Concept Cars of AL @ Mar 19, 2009 05:20:33 AM

2

Ive always wanted to be rich please if you could make me rich iwould be so happy but im going to use my grandmas email adress because i dont have one.buti would do all i can to help anybody im just a kid sending a rightteous letter to the news crew so if you want to make me rich contact me thats all i ask from you guys.Thankyou i would give all my thanks to you guys.

Adrienne of DC @ Feb 28, 2009 10:32:36 AM

Socialist America

Anyone who argues that bailouts aren't socialist is crazy. Taking hundreds of billions, if not trillions of dollars (if Obama's 800 billion plan passes, wed be at $1.5 tril) of taxpayer money to hand over to big business goes against everything this country is based on. Free market enterprises whine about government interference any other time, but when it works the other way theyre standing in line, hands out, waiting to rob the pockets of Americans. Government interference in business includes government help to private business. The private sector is designed so Americans are responsible for their own fate. A totalitarian, government controlled economy is absolutely absurd, and the financial and automotive industries are pretty much already there. For Congress and the automotive industry to label $25 billion as "spare change" and a "minor bailout" is ridiculous. $25 billion goes a LONG way. It takes a lot of hours from hard-working citizens to produce that much government revenue. People bashed Bush like crazy for bailing out the financial industry, calling him a "pseudo-Republican" and a "complete Socialist, who went against everything his party stands for." Is anyone complaining about Obama's plan, which is BIGGER than Bush's? I haven't heard a minute of complaining on CNN, now that we've entered the "Obama era." Quit being so blind people, our elected officials are blatantly violating our rights as citizens, and going completely against what our founding fathers set up. The problem is that with the abundance of corrupt, lying politicians (and the massive problem of American apathy), even if we could convince each other to vote these pigs out, we'd just be sending in a new herd of the same-old same-old. The problems with party-lines have grown so large, that we will spend the rest of this country's existance listening to left-wing liberals and right-wing conservatives argue like toddlers, and Democrats and Republicans controlling everything. Democrats and Republicans will continue to hold complete control of everything, and hold opposite views on purpose just to tick us off. They will vote in line with their party, refusing to look at what a bill even is. (Patriot Act anyone?) This will all lead to the demise of the greatest country in the world, UNLESS we step in and do something. Fellow Americans, we need to step outside the party-lines ourselves, and quit voting for the major 2 parties "just because no one else can win." If we band together, we can oust the corruption of party-America, and vote in a new system of officials, who spend their time looking out for us, rather than protecting their own wealth, hiding their tax issues, and fighting with each other at all hours of the day. Obama promised a "bi-partisan America." While he hasn't even been in office a month yet, if things have changed at all they've gotten worse. Parties in Congress stuck strictly to their lines on the $800 billion stimulus. We need to change NOW!

who cares of PA @ Feb 03, 2009 12:44:49 PM

Corruption is a Big Word

All I can say is,

This Bailout is not to save the blue collar workers jobs but to continue the money supply to the greed of the upper Management. Do you not see no matter what the government does will not help the masses of working class people. Do you think that the government can borrow money from The FEDERAL RESERVE bank at that amount without creating an enormous debt to be paid, because interest on 25 Billion is no chump change. Who benefits? you I highly doubt it unless you are part of the Rich and elite. So if you want to live in a dream world where you think this is going to go away soon your mistaken.

Roger @ Jan 01, 2009 18:24:37 PM

No More Bailouts

These bailouts are bad news for American taxpayers.

Protest the auto industry bailout by signing the petition at http://www.autoindustrybailout.com/petition

Bailouts create a severe moral hazard, encouraging high risk and bad business models.

Auto Bailout of NY @ Jan 01, 2009 12:33:17 PM

Ponzi Feudalism

1) Today, We gave $9.4 billion dollars to GM because of its impeding financial failure.

2) A big part of GM’s woes are a result of its failed financing arm: GMAC.

3) GM owns a 49% stake in GMAC

4) The Chairman of the board of GMAC is J. Ezra Merkin.

5) In addition to his duties as chairman of GMAC, Mr. Merkin runs a $1.8 Billion dollar hedge fund, Ascott Partners, in which he charges investors a 1% under management and 20% of profits fee.

6) J. Ezra Merkin invested 100% of the 1.8 Billion dollars into a ponzi scheme lead by Bernie Madoff. (This shows he knows nothing of derivate trading, but it also shows he knows nothing about asset allocation or diversification).

How in the world can we give $9.4 billion dollars to a company that has a subsidiary, whose chairman just lost $1.8 Billion dollars in a ponzi scheme? Does anyone think we have all lost our minds?

Joe of FL @ Dec 19, 2008 12:25:57 PM

Hold managment accountable

Bailout, loan or not, the taxpayers, autoworkers and even parts vendors must, must, must hold the big automaker managers accountable. Keep them on the hot seat! Don't let them fool you, they are responsible for a great deal of the problems.

Problems have been building at these companies over a very long time and they've limped along when times were good, but never managed to strengthen their businesses. Now their pain is ours. Don't let them spread it around and dilute their culpability. Management is largely to blame, make them accountable!

GJ of VA @ Dec 19, 2008 09:46:53 AM