<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/72cHfOKoA1c&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/72cHfOKoA1c&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object> This is war!
This is war? You need to get your head out of your ass. These people took ZERO risks and have been screwed by the UAW for years. YET no one wants to bail them out. They're the livelihood of THOUSANDS of middle-class Americans who are trying to put food on the tables for their families. YET you want to bitch about a bail-out for them? HOWEVER, the financial firms already have been bailed out with trillions (due to the HUGE risks...and losses they took) and no one bats a FUCKIN EYE.. GET FUCKIN REAL. Bail out the automakers and let the banks go bankrupt.
All looks like obvoius lies, but the last point got me thinking for a while. Threat to security seemed serious until I recalled this is not 1950 and we are not into tanks and heavy artilery. Precision guided missles and economic sanctions is the name of the game. In addition they import more than half of their resources so in case of global conflict their production cabability would be cut anyway.
I'm no fan of bailouts, but now might not be the best time to let them go under. If our economy was showing any signs of life, then I'd say no deal, but in this mess, it's probably not the worst thing in the world. At least they employ hundreds of thousands. Giving money to GS on the other hand. Tell me again what positive value they bring to the nation's economy???
Auto industry is too big and inefficient. I'm for 25bl bailout (it would take propably more) only to use it to dismentle half of it - otherwise you'll watch the same video next year.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2180132> Don't you have to make money before you pay tax? When was the last time they made a profit or when is the next time they are projected to make a profit?
You automaker sympathizers are so disillusioned on whats economically beneficial its scary. I'm pasting an excerpt from Peter Schiffs weekly commentary... it mirrors my feelings. "With the Big Three auto makers now in a plainly visible death spiral, the automotive bailout debate is kicking into overdrive. The disagreement hinges on whether a bailout is necessary to support an important industry or whether the unprofitable dinosaurs of the past should be allowed to fail as America focuses on an information-age, service sector, and alternative energy future. As usual, both sides have it wrong. The government should let the Big Three fail not because we no longer need an auto industry, but because we desperately do. What we do not need is the bloated, inefficient auto industry that we have today. By allowing the Big Three to fail, their capacity will be turned over to new owners who will be able to acquire the means of production at fire sale prices and hire workers at globally competitive wages. The result will be a more efficient auto industry making cars that people around the world actually want to buy at prices they can afford. Such auto makers could conceivably be profitable and could become the cornerstone of a manufacturing renaissance in the United States. In contrast, Ford, Chrysler and GM are never ending money pits that threaten to swallow a good deal of our economy."
You think 25 bill will get them going the right way? Your mad they have had years to get themsevles in a better place with better models but have been unable to. That 25 bill between them wont last 6 months then they will be back cap in hand again and again because if they get away with it once they know they can keep doing it so where is their motivation. Chapter 11 beckons I am afraid to say. This is supposed to be the home of FREE market capitalism not command economy Soviet Union where inefficient companies were propped up for years