Great, now the US Automakers want a Bailout

[hessian]

Where are our lawmakers, polititians, government regulators - or is the REAL question:
Whose pockets do they ALL have their hands in?... Automakers have known for decades, but...
http://market-ticker.denninger.net/archives/548-Automakers-Gimme-That-Money-TOO!!!!!!.html :notrust:

From link above...

"Cerberus buys Chrysler after Daimler bought it earlier, and now has its hand out, and that's not even a publicly-traded company. Its a private hedge fund, basically, which appears to have made a bad bet and now wants the government to back it.

Oh, and by the way, Chrysler already got its bailout. It was stuck in the housing bill. You didn't know that? Well its in there - go read it. That's right, a private company got bailed out at your expense - in the housing bill - to make cars!)

"Too big to fail"? Gee, that net keeps getting wider and wider doesn't it?..."

 

[Silverbird]

Where are our lawmakers, polititians, government regulators - or is the REAL question:
Whose pockets do they ALL have their hands in?... Automakers have known for decades, but...
http://market-ticker.denninger.net/archives/548-Automakers-Gimme-That-Money-TOO!!!!!!.html :notrust:

Well, it remains to be seen whenther they are going to get anything.

 

[Show-me]

From link above...

"Cerberus buys Chrysler after Daimler bought it earlier, and now has its hand out, and that's not even a publicly-traded company. Its a private hedge fund, basically, which appears to have made a bad bet and now wants the government to back it.

Oh, and by the way, Chrysler already got its bailout. It was stuck in the housing bill. You didn't know that? Well its in there - go read it. That's right, a private company got bailed out at your expense - in the housing bill - to make cars!)

"Too big to fail"? Gee, that net keeps getting wider and wider doesn't it?..."

It is the new American way, even on individual basis people that don't need the money have their hands out. They figure that is the system in place why not use it. I personally know people that are very wealth, not just well off, but very wealthy collecting a Social Security check. Yes, they paid into the system but the system was not originally created for those folks. It was created for the folk that don't have a dime or got screwed by the companies like Enron. And, IMO the entire Enron and Aurthur Anderson board member and Executive should all be in jail. Make examples out of them.

 

[Show-me]

First thing to do is to abolish the tax code and implement the FairTax system.

 

[nnuut]

Let's add Fair Trade regulations!!:notrust: The competition is killing us, WHY ---- because we are STUPID!!!!!!!!View attachment 4525

 

[Show-me]

Nnuut,
Like Perot said, if it is good one way give us the same deal.

 

[amoeba]

rather give it to GM than non-paying home loaners

Used to think this was a bad idea, until I heard some worse ones, like the $700B bailout of banks, and the $300B bailout of anyone who doesn't make home payments.

Gee, my car is worth half what I paid for it (in cash); wanna give me $9,000 back?

Oh, what's that? you want the taxpayers to pay for the decrease in your home value? What makes it your home? Oh, that's right - you didn't buy the house, you just borrowed money - and used it to buy the house.

Oh, but the rate adjusted and you can't pay it now? well then, you might have looked up the word "adjustable".

My sympathy for these low lifes home loan defaulters is zero. There are alot of people who save up down payments for a decade or more to buy real estate; their houses declined in value too. And guess what? who is offering to give them money. They are paying their loans.

compared to the loan defaulters, I'd give it to GM and have them build whatever energy-efficient car they can come up with, buy a whole bunch of cars, and hand them out for free. Whatever $700B can buy, just not to banks who make bad loans, or people who don't pay them.

 

[Frixxxx]

Re: rather give it to GM than non-paying home loaners

Used to think this was a bad idea, until I heard some worse ones, like the $700B bailout of banks, and the $300B bailout of anyone who doesn't make home payments.
.....

compared to the loan defaulters, I'd give it to GM and have them build whatever energy-efficient car they can come up with, buy a whole bunch of cars, and hand them out for free. Whatever $700B can buy, just not to banks who make bad loans, or people who don't pay them.

Oh, you mean when they had the chance to take all the profits from gas guzzling SUVs and didn't return the favor by putting energy efficient hybrids or straight electrical cars on the market?

Please, Amoeba, I want to slam the world with all this dishonesty as well, but don't ever doubt for a second that this is a capitalistic model unraveling before our eyes. Any time the government intervenes with business, gets us one step closer to being anything else.

CAPITALISM as a whole is doomed to failure when left unchecked. Balancing laws with running a business will always be an art, not a science.

 

[Fivetears]

I want a damn BAILOUT! Where's the line! :laugh: