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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on September 03, 2008, 06:24:11 PM
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Where's my bailout?
It's desperation time for the Big Three automakers. They are awash in gas-guzzling vehicles nobody wants to buy, bleeding red ink and running out of cash. So it should be no surprise that when Congress returns next week, the companies and their unions will put on a full-court press to win approval for $50 billion in federal loans to be used to re-engineer and retool their plants for a new generation of energy-efficient vehicles.
With the auto-dependent states of Michigan, Ohio and Indiana up for grabs in November, the Big Three hope to use the political calendar to their full advantage. They've already won the backing of both of the presidential candidates, along with House Speaker Nancy Pelosi, who promises quick action this fall. And while the White House has indicated its reluctance to involve the government in the rescue of yet another industry, it may have a hard time explaining why the automakers are any less deserving of a "bailout" than Wall Street investment banks or Fannie Mae and Freddie Mac.
Even before top industry executives arrive in Washington later this month to lobby for their program, General Motors' vice chairman, Robert Lutz, who never misses an opportunity to put his foot in his mouth, was telling reporters in Chicago last week that the industry "deserves" government loans because of all the challenges that have been inflicted upon it .::) In fact, it's hard to imagine an industry less deserving of government help.
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Fucking Socialists
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Fucking Socialists
Things are fucked for sure.
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I would authorize the bailout only if they halted productivity of gas powered autos and focused all attention toward alt. resources.
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you see this is why bailing out the lenders was a bad move
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you see this is why bailing out the lenders was a bad move
domino effect, now everyone wants a bailout.
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This is nothing new
Profits are Privatized
Losses are Socialized
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My answer to the car makers: Fuck you. Make a good product and people will buy it. Now kindly fuck off.
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domino effect, now everyone wants a bailout.
exactly i knew this would happen but didnt think of it coming from the car makers although i gotta say it should have been an easy call.
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You all know, of course, that most of this money will go towards the unions to support their legacy costs for another X amount of time....
I would speculate that very little of the 50B is actually going to go towards any investment that will help turn the auto industry around...
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You all know, of course, that most of this money will go towards the unions to support their legacy costs for another X amount of time....
I would speculate that very little of the 50B is actually going to go towards any investment that will help turn the auto industry around...
Which is why they shouldn't get 1 fucking cent.
Sweet baby Jeebus. Corn subsidies, subsidies for big oil, Fanny Mae.... where does it stop?!