GM & Chrysler on the Brink -- Part 3

[BlackCat]

http://money.cnn.com/2008/12/19/news/companies/auto_crisis/index.htm?cnn=yes

Bush announces auto rescue
Government to loan GM and Chrysler $13.4 billion from Wall Street bailout fund so that the embattled auto firms don't run out of cash.

By Chris Isidore, CNNMoney.com senior writer
Last Updated: December 19, 2008: 11:26 AM ET

[snoopy369]

Darn politicians... I say we vote that Bush guy out of office

[DanS]

This sucks so bad.

http://online.wsj.com/article/SB122969367595121563.html

The reason why the companies need bankruptcy is because the relevant interests are not compromising. This bailout merely creates a slush fund so that they can continue to not compromise.

Bush has no balls. He was worked over by the UAW. And he just screwed over Obama, because every company in America is going to be knocking on his door looking for a bailout.

[DanS]

Originally posted by TCO
The entire economy is waiting for either bailouts or rationalizations. It is causing a lot of hesitation. Also (my opinion), the natural result of mass intervention, mass transfers of taxpayer wealth the Goldman Sachs, CDO counterparties, etc. has caused a (rational) expectation of a large recession, which is making almost every company do major things to draw in their heads, stop growth, etc.

Looks like we'll have at least 3 more months of hesitation as other bailout-seekers see what the terms would be for their bailouts from the new administration.

[Naked Gents Rut]

**** you, Bush.

[snoopy369]

Not that Obama wasn't going to do the same (or worse).

[Naked Gents Rut]

Still, it would've been nice to have one party that isn't completely retarded on this issue.

[Kuciwalker]

[snoopy369]

Originally posted by Naked Gents Rut
Still, it would've been nice to have one party that isn't completely retarded on this issue.

Nice, yes. Realistic, no.

[Dinner]

Suck it Republicans.

[The Mad Monk]

One of our larger customers, which mostly supplies the big three, just laid off seventy people. They just picked up a contract for higher end John Deere equipment (that's right, luxury combines), so they may yet pull it out.

My last day of work was yesterday; hopefully we'll have more orders by the time the plant reopens January 12th.

[snoopy369]

Originally posted by Oerdin


Suck it Republicans.

What irritates me most is that the Democrats support all of this crap. It would surprise me less if the Republicans did ('big business' party as they're supposed to be) ... but the 'party of the people' seems to want to ensure that the people get further screwed over by big business.

[Dinner]

Supporting good paying jobs for American workers.

[Dinner]

BTW Republicans are the party of big business. They just feel that killing the union is more important since the union knows who its friends and enemies are.

[snoopy369]

See, if I thought democrats were complete idiots, I might buy that rationale. But I don't... and I know that they're as aware as I am, that this bailout money will help out the corporate folks far more than the workers; they'll still lay off tons of people, and then outsource more to India and Mexico. Bankruptcy wouldn't cost America a million jobs, or even likely cost America significantly more than they already are going to lay off over the relatively short term - and if they did it under supervision of a court, there would be less uncertainty, and people like Honda and Toyota could move in and employ more people instead much quicker than they will now (with more uncertainty).

As far as I can tell, the Dems prefer to simply lie to their populace and hope they buy the **** coming in shovelfulls.