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Jase

Treasury ready to prevent collapse of automakers

34 posts in this topic

This is bullsh*t... You can't bailout three of the largest employers in the Country? but you can give AIG 50 billion for what? To give their exec? bonuses, if they dont bail-out GM, Ford, Chrysler you knwo how many people will lose their jobs??? Yeah sure they make a sh*tty product, but it will put thousands out of work in an already tough time, you dont bail them out, all the chevy lovers lose their parts.. think about, we should bailed out some of them before the banks, i make some stupid financial decisions but i do not seeing me getting help from the government why the f*ck should take care of them because of their ignorance with money...

Where do you think the gravy train should make its last stop?

Or should I say, the stolen money train.

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If we want to bail out anyone and fix the economy the gov't should wipe out all outstanding student loans. That would allow for the group within their 20-30's to buy houses, cars, services...

Enable us.

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Where do you think the gravy train should make its last stop?

Or should I say, the stolen money train.

to be fair, the Auto Bailout is unlike the financial in that it is a loan. The automakers are required to pay back the money that they are being given. I'm not happy about it, but I understand the value of saving upwards of 3million jobs. The financial bailout is the travesty here.

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We'll need to know more about these "services" you're referring to.

AMP's

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to be fair, the Auto Bailout is unlike the financial in that it is a loan. The automakers are required to pay back the money that they are being given. I'm not happy about it, but I understand the value of saving upwards of 3million jobs. The financial bailout is the travesty here.

What happens to this "loan" if the company in question turns around and files for bankruptcy anyway?

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What happens to this "loan" if the company in question turns around and files for bankruptcy anyway?

of course that's a risk, but once again, there really is no alternative. 3million jobs and 4% of the GDP is an unacceptable loss at this point in time. Add into that the cost of the extra weight put on our social system by those 3 million, we're paying for it one way or another, at least this way there's the possibility of return.

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http://www.bloomberg.com/apps/news?pid=20601087&sid=aJ2Wj18nV2_Q&refer=home

Dec. 12 (Bloomberg) -- The Bush administration dropped its opposition to using the $700 billion bank bailout fund to provide financing for U.S. automakers after the Senate yesterday failed to approve emergency loans.

The administration’s willingness to give short-term help to General Motors Corp. and Chrysler LLC eased the concern of at least some investors that the companies will collapse and worsen what is already the longest recession since the early 1980s. Stocks pared their losses.

“Congress has really punted the ball over to the White House,” John Bogle, 79, founder of the $80.6 billion Vanguard 500 Index Fund, said in a Bloomberg Television interview. “That will give them temporary stopgap aid. I do not think General Motors is going to go out of business.”

No loan. :(

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Someone said nixing student loan debt??

I shall be writing a proposal and sending it to Obama.

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You do realize that it was the UAWs refusal to bring wages in line with the industries non union shops that killed this thing?

Its not big bad Washington DC that's being stupid here. Its the greedy ass unions that kept this from getting done. The very blue collar people that this was supposed to save gave DC the finger.

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