Auto Bailout

[SUBMAN1]

This is pretty much true:

http://www.itulip.com/images/big3bailoutad.jpg

[MothBalls]

http://www.time.com/time/specials/2007/completelist/0,,1658545,00.html

[GoldenRivet]

dont get me started.

Im so pissed about this. My congressman has lost my vote. :nope:

[subchaser12]

This is the hypocracy that has made America so bitter. The same people that will repo your car in the middle of the night will tell you to "be responsible". Now when the fat cats run their finances into the dirt they get a check from the guvment.

What a load of ****. Why can't we let the "free market" run it's course. I see they only like the free market when it suits them. As soon as the **** hits the fan socialism is A okay all of a sudden.

[GoldenRivet]

This is the hypocracy that has made America so bitter. The same people that will repo your car in the middle of the night will tell you to "be responsible". Now when the fat cats run their finances into the dirt they get a check from the guvment.

What a load of ****. Why can't we let the "free market" run it's course. I see they only like the free market when it suits them. As soon as the **** hits the fan socialism is A okay all of a sudden.

EXACTLY

I call shenanigans :stare:

I swear to God im about to put out a posting on craigslist.

"Wanted: 10,000,000 people to show up at the front doors of congress demanding our money back"

[PeriscopeDepth]

It seems it was stopped for now. Thank whatever you pray to for the Senate. The majority party can ram anything down the House on numbers alone. But it will probably happen come January as SUBMAN noted...

http://www.reuters.com/article/politicsNews/idUSTRE4B50CL20081212

The markets are going to f'ing plunge tomorrow. But better we feel the pain now instead of postponing it and making it worse. I really hope we don't rescue US Auto with more debt.

PD

[joegrundman]

Time to buy shares in Honda

[Skybird]

That bailout plan for US car makers was more a billions-heavy euthanasia anyway.

If no third attempt is brought up, I think GM will die. Crysler too, probably. Obviously Daimler did not pull the emergency break one bit too early - seems they parted just in time, but still with high losses form this stupid adventure. German Opel it could cost dearly, getting pulled into the abyss alongside with GM.

Little men with too big egos and too little interest and understanding of the specific business they are in - now see the damage done by this modern type of "manager". Especially in the US car industryk, the problems emerged over the past 2-3 decades, and not just appeared from the current economic crisis, that'S why the survivability of US car makers is much lower than that of other car producers in the world.

The basis of modern-type managers' heart is too narrow, that is why their too heavy egos make them fall over in all their clever planning and managing. Hopping around from one business branch to the next I never considered to be a good idea. You do not raise branch-typical expertise by this kind of manager-hopping, nor do you educate managers to develope devotion to the business branch they are in. Instead they think the current temporary company filling their pockets is there to serve their personal demands and interests. Such dilletantic parasites we should fill into cans and fire them to the dark side of the moon.

[Jimbuna]

Could be replicated in Britain within the next year if the current indications aren't reversed.

[UnderseaLcpl]

As retarded as the idea that the U.S. government should even be able to discuss a bailout for any industry, individual, entity or anything else, I saw several representatives give a good account of themselves on C-Span. It would seem that not everyone has forgotten about constitutional law. Ron Paul was predictably against the measure and made this very clear until his remarks were cut short by time constraints.

Did anyone else watch the debates to any extent? I thought it was odd that Democratic speakers had a much longer mean speaking time because so few of them bothered to show up, while the Republicans had to make a motion to be yielded time (denied) from the Dems because they had so many speakers.

I missed the Senate debate, though. Any highlights from that anyone would care to cmment on?

[XabbaRus]

What is happening to the US auto industry seems the same as what happened to the UK industry.

Unions making unrealistic demands. Quality of cars that didn't match the competition and lousy management. Now all our car companies are foreign owned.

The only irony is that a lot of the best car designers working for euro car companies are British with a specialist and respected auto design school in England.

Thing is when I looked under the skin of even the latest US sports cars, eg Mustang, Firebird etc the tech underneat was so old. Really the new Mustang still has a live rear axle as does the new Pontiac. Not sure about the Corvette. Secondly interiors compared to the equivalent UK car, eg Vauxhall were plastically and not well finished.

I feel for them but our companies never got a bail out, well they were state owned and allowed to go.

[Kapt Z]

I love the new Mustang, but aside from that I haven't seen a 'big three' car I'd even look at for years. That's not even getting into the reliability/quality issues.

I wish I could believe the money would be spent wisely, but who am I kidding? The banks are already wasting the money we gave them! I'm a banker and I am pissed about that.