House clears $25bn for carmakers

House clears $25bn for carmakers

www.ft.com

But critics have questioned the wisdom of supporting the motor industry with taxpayers’ money, especially in the wake of the huge amounts being provided to Fannie Mae, Freddie Mac, AIG and Wall Street investment banks.

(visit the link for the full news article)

I guess we ought to just ask for a Christmas list from every corporation in America to see how much they need to get out of trouble. Where is responsibility when you need it?

Should we continue to bailout every industry that is in trouble?

This is getting hilarious. By the way, I blame both parties.

www.ft.com
(visit the link for the full news article)

I am getting really sick and tired of the handouts our government is making. If all these corporations are in such dire need of capital maybe they could borrow it from the big oil companies.They've been showing quarterly billion dollar profits.Let them fund this BS bailout business.

There are aspects of the insurance bailout plan that I can agree with. Namely, so that people who are, or are very near, retirement can count on the money that they have put into retirement accounts to be there and healthy for them later. As well, so that people who are actually capable of paying for what they have can continue to do so without fear of major rate adjustments or new terms.

Now, I work in the auto manufacturing business. It is my livelyhood. It is paying my way through school, not to mention my rent. I see first hand the impact that the fledgling US economy is having on the industry. I do not, however, agree that taxpayer money needs to be spent to bail them out as well. I think there should have been a stipulation that would hinder progress of the price gouging unions that have dredged the auto industry into the ground be added. As well, where is the interest payback going? Into the pockets of those that voted on the bill? Why not put it back into the economy and actually help the right way. Instead, this is just another crisis point that the bloated, greedy, whoremongering government is using to run the US Gov't like a Savings & Loan industry, without the savings.

Just from reading the article I would think they could create some jobs of their own by developing low-cost alternative fuel vehicles...after all everybody hates buying gas.It would kinda' kill two birds with one stone by creating jobs and helping the US get off of oil.

There needs to be strict oversight on these conglomerates getting tax dollars though, I think I'm gonna hurl if I hear of another CEO walking with millions while we stand here holding the bag. I want heads to roll for thievery...

reply to post by jam321



The blame goes much further up than that.. Everyone that has been warning America about this crisis over the last few months and years was clearly thrown under the bus and ignored. There has been a complete loss of accountability in Washington and amongst the corporate elite who made the bad decisions that put us in this situation.

Remember the Enron scandal? Remember the hearings? Where are the hearings now? With Enron we were talking about something like 60 million dollars needing to be made up because of Enron management covertly cooking the books. The management of the companies involved with the latest investment bank scandals have NOT been held accountable. Yet, the recent investment bank scandals involved illegal activity that resulted in cooking the books to show dollar amounts orders of magnitude over that involved in the Enron scandal.. And some of these people still have their jobs?

I have an idea.. How about actually fixing the ridiculous economy of this country permanently for once? Everything always has to be a temporary fix to a crisis situation. Where is the action? Where is the accountability? And why hasn't anyone in Washington listened to the people who warned about this for years?? Noone has the balls to do what needs to be done in washington. It is going to have to involve a complete restructuring of how the economy operates. What is in place right now obviously isn't working. If we go under, how many countries follow suit? There is more at stake than the mighty U.S. of A.. Inaction in the white house among the Bush Administration and a complete loss of accountability across the board are not helping things.. Another couple wars and where would we be?? For all we know our enemies are already organising among themselves to pull us into more wars and more money lost in the name of the phony war on terror..

-ChriS


[edit on 24-9-2008 by BlasteR]

you guys are on fire. Hitting it on the head. The government better start passing long term cures cause the next crisis is right around the corner. FBI needs to go after every one of these scumbags including their connections to members of Congress and the White House. People who steal candy get punish more severely than these guys. As far as Congressional hearings, I am against it. Primarily because I think there are connections and Congress would only sweep them under the rug. Go after all of them.

PRICELESS!

Ladies and gentlemen this is politics at it's VERY best. While everyone was looking at the Bailout bill, they're sneaking this little gem in right under our noses. No time for media coverage, no time for hearings, no time for the populace to say "hell no!". Washington pulled the wool over our eyes yet again. Congress, the Treasury, the Fed, and the MSM all shouted "look over here" and we missed what was really happening. Thank god they haven't gotten it through the Senate yet.

They keep bailing out these companies with our money, but leave us hanging on by a fraying thread. How can they bail out these companies with money that they don't even have ?

They help these big corporations, want to fix all their financial problems, but America is spurting blood out of it's jugular and all they do is slap a band aid on it. When are they going to actually fix the problem instead of prolonging it ? We need to do something to hold them accountable for what's going on here.


If congress wants to bail them out, then they should be the one's coming up with the money, not us. They can start by taking a cut in pay. Then they can cut all the excessive government spending. Put a hold on foriegn aid. Bring our troops home and stop spending billions of dollars on this war.


People can't pay their mortages because they have no jobs, This government has turned this country from a nation of producers into a nation of consumers. But how long did they think that it would last ? Bring our jobs back home to us, stop outsourcing to other countries, bring back the tariffs. Stop coddling corporate America and take care of America, hold corporate America responsible for their actions.


We're supposed to bail out these corporations when half of us can't make ends meet anymore ? We can't pay our rent, bills, food, and fill up the tank so we have to sacrifice something and we are expected to help them ? When the hell are they going to bail us out ? Or better yet bring this country back to a state where we don't need to be bailed out ?

I guess after talking about a $700 Billion dollar bailout, $25 billion is a drop in the bucket. But 25 here and there adds up.

Should I also mention that this is a part of a spending bill Congress is working on at this very moment. This spending bill might even surpass the bailout bill.

The House passed a $630 billion-plus spending bill Wednesday that wraps together a record Pentagon budget with aid for automakers and natural disaster victims, and increased health care funding for veterans returning from Iraq and Afghanistan.

source


Don't you love it the way they slip everything under the radar?