US Taxpayers: Get Ready to Bend Over...AGAIN...

[FallingOsh 0]

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Ford, especially. Ford has shown they know how to do business efficiently - check out their plant in Brazil. The F-150 is a well designed and popular vehicle. Under CH 11 they could take the necessary and painful actions required to once again become a competitive company. Throwing $$ at them with their current contractual burden would be an insult to every tax payer.

A rep from Ford said they won't be taking any money right now. They've sold enough brands and restructured enough to survive, in his words, at least a year or two longer with no help.

Listening to the big 3 in front of the senate committee, it was made clear by the GM CEO that the loan would start to be paid back in late 2010 with full repayment by 2012. I think those were the numbers he gave. Regardless, GM has a plan to repay all of the money. I have no idea if that will actually happen or not, but that's their plan.

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Stay positive and love your life.

[Andrewwhyte 1]

So if GM goes down, won't that help Ford? The truth is there is not enough room for the big three any more at anywhere near their current size. Propping GM an Chrysler up just helps to insure that Ford will not be able to find their own way out.

[TheAnvil 0]

That's GREAT news from Ford! Ha!

Now, it looks like some sane people are coming onto the scene! Haven't been so happy at the prospect of a filibuster - ever.

Dear LORD let them be successful and kill this thing! Forever!

Vinny the Anvil
Post Traumatic Didn't Make The Lakers Syndrome is REAL
JACKASS POWER!!!!!!

[Gawain 0]

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That's GREAT news from Ford! Ha!

Now, it looks like some sane people are coming onto the scene! Haven't been so happy at the prospect of a filibuster - ever.

Dear LORD let them be successful and kill this thing! Forever!

It's not dead:

GM and Chrysler Will Get $17.4B in Loans



I told everyone to block the "bailout", $850B for all variety of reasons, now, because Congress doesn't know how to do sh*t, and they gave SecTreas unchecked power, now the TARP funds are being used, again, beyond their intended purpose.

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Under the terms of the plan, if the companies can't demonstrate financial viability by March 31 the loans will be called and the money must be returned, the statement said.

Who's going to judge that? Sh*t, I can't tell them right now: They aren't viable.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[kallend 2,131]

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I told everyone to block the "bailout", $850B for all variety of reasons,

So there are limits to your powers of persuasion

...

The only sure way to survive a canopy collision is not to have one.

[billvon 3,095]

>I told everyone to block the "bailout", $850B for all variety of reasons, now,
>because Congress doesn't know how to do sh*t . . .

. . . and now we come to the present day, where the democratically controlled congress refused to authorize the bailout, and so the republican administration figured out a way to give Detroit billions anyway.

Strange days indeed.

[kelpdiver 2]

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>I told everyone to block the "bailout", $850B for all variety of reasons, now,
>because Congress doesn't know how to do sh*t . . .

. . . and now we come to the present day, where the democratically controlled congress refused to authorize the bailout, and so the republican administration figured out a way to give Detroit billions anyway.

Strange days indeed.

sshhhh....don't disturb the fantasy. Congress will be blamed for everything that happened in the past 2 as well as 8 years, until Obama is in the White House and can be blamed for it all.

[TheAnvil 0]

Dear God this is so fucking stupid. I mean dumb. Outright goat fuck stupid. What a waste of taxpayer $$.

Politics hasn't nauseated me to this extent since the election.

[barf]

Vinny the Anvil
Post Traumatic Didn't Make The Lakers Syndrome is REAL
JACKASS POWER!!!!!!

[Gawain 0]

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>I told everyone to block the "bailout", $850B for all variety of reasons, now,
>because Congress doesn't know how to do sh*t . . .

. . . and now we come to the present day, where the democratically controlled congress refused to authorize the bailout, and so the republican administration figured out a way to give Detroit billions anyway.

Strange days indeed.

It's funny you should mention that...who handed over all that unchecked power to SecTreas? ...three guesses, the first two don't count.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[billvon 3,095]

>who handed over all that unchecked power to SecTreas?

The president. Paulson is doing what he's been told to do. From his statement today:

"President Bush has been pretty clear that, since Congress has failed to act, he wants to take steps to avoid a failure."

And he's taking them.

Now, if you want to ask who gave Bush the authority, it's Congress. To paraphrase the old classic - they screwed up; they trusted him.

[marks2065 0]

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>who handed over all that unchecked power to SecTreas?

The president. Paulson is doing what he's been told to do. From his statement today:

"President Bush has been pretty clear that, since Congress has failed to act, he wants to take steps to avoid a failure."

And he's taking them.

Now, if you want to ask who gave Bush the authority, it's Congress. To paraphrase the old classic - they screwed up; they trusted him.

I may be wrong, but isn't the dem's that wanted the bailout for the auto industry but couldn't get the support fom the rep's? Isn't Bush doing this in spite of what the rep's want?

[Gawain 0]

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>who handed over all that unchecked power to SecTreas?

The president. Paulson is doing what he's been told to do

You are aware that Congress had to pass a law before the President could sign it right? Remember that iddy-biddy $850B bailout bill passed recently?

The rest is a consequence of that. The people told Congress not to pass the bailout, thus creating TARP. The House listened once. The Senate passed an even fatter one. The House caved in to BS...

Since then, SecTreas, good intentions or not, doesn't buy assets, he nationalizes the top nine banks in the country. They nationalize AIG, and now, GM and Chrysler may as well become government agencies.

The banks are not using the relief they received, instead using for M&A and zipping up the purse.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[billvon 3,095]

>You are aware that Congress had to pass a law before the President could
>sign it right?

Yes. Like I said, they gave the president the authority to spend the money.

>The banks are not using the relief they received, instead using for
>M&A and zipping up the purse.

Of course. They are trying to be as competitive (which means as greedy) as possible. That's capitalism.