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GM Spirals the Drain (Part 2)

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  • This is such bull****. **** Bush, Reid, Pelosi, Harper and everyone else in favor of this piece of **** bailout. Why can't they listen to the economists for once and let Detroit go into bankruptcy?

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    • Originally posted by DanS


      It's just not that big of deal as far as the markets are concerned. The Detroit Three have chased away the investors -- the stocks and bonds are worthless. GM's main supplier is already in Chapter 11. They've already caused the maximum amount of pain. There's nobody left.
      There's the rest of the market(s).

      And it seemed to be a big deal, with foreign markets plunging and auto makers completely unconnected crashing.

      This wasn't just about Detroit, or autos for that matter.
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      • It's just not that big of an industry, NYE. It will not take down the economy and therefore will not take down the markets. It just won't.
        I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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        • THe only thing I can think of is that it is probably niec to have a car manufacturer in case of war...

          JM
          Jon Miller-
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          GENERATION 35: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.

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          • There's plenty of non-Big Three car manufacturing in the United States.

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            • It was taking down automakers around the world. It was crashing markets around the world. The crash was reaching New York. Your President threw a life line to the markets. It worked without $0.10 actually spent.

              Feel free to condemn if he goes ahead and pumps a few billion into the unions if he does that.

              I just think we might want to pause and not assume the worst, yet.
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              • Enough of the histrionics. The markets were not crashing. A 3.5% decline is par for the course nowadays.
                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                • From your link.
                  Japan's Nikkei share index fell 484.68 points, or 5.6%, to 8253.87, with carmakers among the hardest hit. Shares in Toyota, Honda and Nissan all fell by at least 10%.


                  I am not the one engaged in histrionics, Dan. You seem to be a bit high strung though.
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                  • No big deal.
                    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                    • $15 or so billion may keep GM and Chrysler open for business until January.

                      There's no assuranace they will get it, but Bush is a **** head for intervening at zero cost in plunging markets to give reassurance, and that reassurance resulted in stock markets rebounding from losses.

                      What a crap leader!

                      We want a depression! When do we want it? Now!

                      Incidentally, I think he's tilting at windmills. You will have your depression. Have a little patience.
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                      • $15 or so billion may keep GM and Chrysler open for business until January.
                        And then what? You need to either commit to a $125 billion bailout now or just let them go into Chapter 11.

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                        • GM and Chrysler will stay open for business until January no matter whether there is a bailout or not.

                          The president shouldn't be timing a single mouthful of his breakfast over market minutae.
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                          • Originally posted by Naked Gents Rut


                            And then what? You need to either commit to a $125 billion bailout now or just let them go into Chapter 11.
                            Chapter 11 may be the best thing for GM and Chrysler.

                            What I am mainly speaking of is the appropriateness of the response to a 2am Senate vote that sent world markets into a tail spin.

                            Yes, Detroit deserves some pain. That pain is not so great that it needs to spill over into other industries and other countries. Or maybe...

                            Anyway. I think Bush did a good thing today. Hopeless in the long run probably, but a good thing.
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                            • Bush is a jackass. He shouldn't even be thinking about misappropriating TARP funds to pay for this stupid bridge loan.

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                              • Oh god, "tailspin"? Here we go with the histrionics again.
                                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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