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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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There's the rest of the market(s).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.
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, 1891Comment
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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...
JMJon Miller-
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There's plenty of non-Big Three car manufacturing in the United States.Comment
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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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(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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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, 1891Comment
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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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(")_(") This is Bunny. Copy and paste bunny into your signature to help him gain world domination.Comment
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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, 1891Comment
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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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And then what? You need to either commit to a $125 billion bailout now or just let them go into Chapter 11.$15 or so billion may keep GM and Chrysler open for business until January.Comment
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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, 1891Comment
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Chapter 11 may be the best thing for GM and Chrysler.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.
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.Comment
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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, 1891Comment
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