Who else thinks Crysler, Ford, & GM should not ever get a bailout, screw...

  • Thread starter Thread starter Jack B
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Jack B

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...them, let their stupidity be punished?
Look I strongly opposed the financial bailout just like this bailout...whatever the amount...and the reason why is that there will never be any accountablity and most of the money will surely end up in the wrong hands...like planning to make crappy cars and moving the plants to mexico.
Yeah people will lose jobs...but they should find different jobs and start working for companies that ACTUALLY are viable and prospects for the future as opposed to working for banks and car companies that are run by such idiots that they are on the verge of complete collapse/ bankrupcy every year like GM
 
i disagree also. The auto industry has to survive. too many jobs. too much a part of our economy
 
Well, there is some argument for letting them go drain, but that's a bit like cutting off your nose to spite your face. For every car company that fails, according to the GAO, 2.5 million jobs will go away and won't come back.

There are two possibilities. First, let them go into bankruptcy or receivership. That would allow them to reorganize their finances, change certain relationships with creditors and the unions, and hopefully come out of chapter 11 leaner and stronger.

The problem with doing that is that it puts no impetus on management to change the things that really need changing: namely, management. The failure of the car companies can be directly tied to 35 years of short-sightedness, misreading where the market is going, executive greed, and failing to plan for the long term. So to allow those who screwed things up a "pass" through bankruptcy proceedings is essentially putting a bandage on the problem.

The second alternative is to bail them out, but have what they do and how they do it strongly controlled by the creditors of that bailout--that is, the American taxpayer. As their chief creditors, we should require certain things to insure the longterm viability of these companies.

That offers certain disadvantages, too, namely the speed and flexibility of the auto manufacturers to respond to changing economic climates. But if they are saddled with certain longterm goals (e.g., looking for market share an massively improving fleet fuel efficency) and certain strictures on employees, workers AND executives alike, then I certainly would feel better about bailing them out.

Cheers.
 
i do i think we should just say no to them. i think they are wrong to come begging after sending our jobs overseas or to mexico and canada and then have us bail them out. tell them no and let the chips fall where they fall maybe someone will go back to the original automobile built by ford made of hemp and fueled by hemp and then we can talk. fix it and change the environment at the same time. stupid is as stupid does and i hate stupid people and those who take advantage of my country. all those us aid should be stopped and pull out of iraq and let israel bomb iran i could care less its their asses first to go they do not care about the rest of the world why should i.
 
i don't know, we are bailing out bankers because of abuse of their powers, paying themselves to much , and failure. the big three did not do this this. they have lost in the market, will they ever be able to compete, thats the question before we decide if they need bailed out.
 
I disagree. Their stupidity is going to throw the entire country into a depression if something is not done.

It will not just punish them, people with no connection to auto industry will be punished.
 
I disagree.Because of bad management thousands of innocent employers will lose their jobs. I think that congress should bail them out but put someone other than executives in charge of how the money is handled.
 
And when we let them crash you're not going to blame Obama for the spike in unemployment, homeless people, welfare claims and all the other things that come with letting three huge companies crash and burn at the same time right? No helping was your idea so you're ready to accept responsibility for what comes after aren't you?
 
I'm still puzzled over the fact that we will ultimately sink over a trillion dollars in the financial markets but we're all in a fit about a few measley billion for the auto makers. I'm not sure the bail-out is a good idea either, in fact I'm not sure the financial bail-out is good. Most of the financial bail-out money is obviously going to end up in the hands of people outside the country, like China. At least an auto bailout would be internal.

I hate being undecided about an issue more than anything else, but there are too many variables for my tiny mind.

Did anyone watch the blow-by-blow on CSPAN this week? The UAW agreed to consessions that bring the Detroit auto worker's pay in line with the Toyota and Honda factories operating here in the South. Never thought I'd see that, but if one lives long enough, they might see just about anything.


EDIT
Dexter:
If the big three file bankruptcy while Obama is the president, I will afford him the same understanding you afforded Bush under similar circumstances. I'll leave you to figure out what I mean...
 
Everyone who doesn't have to worry about what the repercussions of not doing anything are--espescially if it is not simply momentary bankruptcy and then rebooting
 
A better plan would be to re-institute the Bank of the United States and directly lend money to consumers with good credit if they buy US made cars. Right now the banks aren't lending so cars aren't selling. A bridge loan to the car companies with the strings that they MUST produce high milage cars would bring buyers to the sellers and the sellers would have something that the buyers would be encouraged to buy. What? The GOVERNMENT directly lending to the consumer? Ain't that..gulp...'socialism'? Yeah..so what? Let the bank fail....who needs them? But don't let all of those jobs go to hell. Desperate times call for desperate measures. If this ain't one of those times then there ain't no such a thing! No kiddin'!
 
A better plan would be to re-institute the Bank of the United States and directly lend money to consumers with good credit if they buy US made cars. Right now the banks aren't lending so cars aren't selling. A bridge loan to the car companies with the strings that they MUST produce high milage cars would bring buyers to the sellers and the sellers would have something that the buyers would be encouraged to buy. What? The GOVERNMENT directly lending to the consumer? Ain't that..gulp...'socialism'? Yeah..so what? Let the bank fail....who needs them? But don't let all of those jobs go to hell. Desperate times call for desperate measures. If this ain't one of those times then there ain't no such a thing! No kiddin'!
 
I agree, these companies don't deserve the bailout. It's their fault for putting themselves into this mess in the first place, and we shouldn't be paying for their mistakes.

All they'll do with the bailout money is make new loans for us to borrow (again!!), make more cars for us who can't afford (again!), and probably spend it on themselves (new jets again!).

It's bad enough to have these companies screw themselves with money, but a lot worse in bailing them out of trouble if they don't learn their lesson. The money should go to the people who are suffering.
 
Sure why not, and take all the people off of welfare. Get rid of social security. Get rid of unemployment after all no one needs a helping hand right. People's stupidity caused them to get on welfare, lost their job, or got a job that went bankrupt. So i would say get rid of all of it off of your line of thinking.
 
So bailout the thieves on Wall Street............

and let the big 3 die, along with the hundreds of thousands that work directly, or indirectly for them.

Glad you don't make my financial decisions...........
 
let them get a viable buissness proposle together.its doable. the static is coming from union repersenatives and company executives.they keep screaming,we got you elected.when they all get under the bus,obama will save the day with his political ingenuity.
 
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