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Detroit Automakers: Bail us out too

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posted on Sep, 11 2008 @ 01:45 AM
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The Big Three can't be accused of tailgating. Congress authorized — but didn't fund — $25 billion in loan guarantees to the auto industry last December to help it cope with higher fuel-efficiency mandates.
Now, General Motors, (GM) Ford (F) and Chrysler — along with their Congressional bidders — are asking Washington to pony up.


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House Democratic leaders are considering a $25-billion rescue package for the auto industry as part of an effort to bolster the sagging U.S. economy. The aid proposal, with its clear political implications for key battleground states, is likely to be put on a legislative fast track, possibly clearing Congress in a matter of weeks.


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Congress has already given the auto industry US$30 billion in low interest loans over a period of 12 years[...]


As if the bailouts of Fannie Mae and Freddie Mac weren't a big enough tax burden, Democrats are now considering a massive "rescue package" for America's "Big 3" automakers in Detroit. Already both major candidates have given their support as has Speaker Pelosi. As if the economy isn't enough of a circus already, Congress may ask taxpayers to pony up $25 to $50 billion dollars.

The taxpayer must seem a giant cash cow not quite dead, and Congress is preparing to suck it to the very last drop. That long-gone tax rebate was a practical joke in the lead-up to this rape, I can't imagine a better way to bolster the economy than removing the consumer from it entirely
. Does anyone really think these companies will really turn a new leaf and use this money to stabilize the economy?


I really can't believe this at all. The 22% approval rating may be looking pretty good in days to come.




posted on Sep, 12 2008 @ 12:44 AM
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Originally posted by EtSolveMundi
As if the bailouts of Fannie Mae and Freddie Mac weren't a big enough tax burden, Democrats are now considering a massive "rescue package" for America's "Big 3" automakers in Detroit. Already both major candidates have given their support as has Speaker Pelosi. As if the economy isn't enough of a circus already, Congress may ask taxpayers to pony up $25 to $50 billion dollars.


Automakers read the papers, watch television ans still have no idea what the heck is going on, you would thing they were all listening to RHAMI or whatever that cook in Washington State calls herself. And House Sneaker Pukeosi? If northern California doesn't boot her from office Southern California will ship all of our illegals to San Francisco and stop paying all our taxes. Build your damn bridge at your own expense.



posted on Sep, 12 2008 @ 06:07 AM
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Not to mention there was a provision in the Housing Bailout to include resources, that was specifically worded to to apply to only one Company that fit the description, and it was Chrysler folks!

Of course they are standing there with their hands out for this one too.

Next industry?



posted on Sep, 12 2008 @ 06:21 AM
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just this morning i read one of those financial sites that GM was granted $50 Billion to develop & produce electric and natural gas automobiles...



but i suspect GM execs will direct a lot of that mney into the health portion of their outstanding, and cash poor, pension benefits programs.
..and then skim out the money like they have done to
the previous generations of retiring employees promised benefits packages...

and give the executives that devised these legal swindles a lot of bonuses for dreaming up the immoral yet technically legal raid on the company cookie-jar.



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