Top Republican senators oppose automaker bailout, page 4
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ATS Members have flagged this thread 2 times


reply posted on 17-11-2008 @ 01:01 PM by Swatman
Originally posted by GamerGal
reply to post by mrwupy


Exactly! The Auto Companies EMPLOY AMERICANS! Name one person you know who works for for Freddie Mac or Lehman Brothers, besides John McCain and the GOP. I know personally four people who work for the auto industries. But again the GOP isn't best friends, swapping wives, or owned by the Auto Industry so they won't get a penny while Billionaire Bankers get it.


umm. some friends of freddie mac. you mean Obama, Barney Frank, John Kerry and Chris Dodd?

sorry but you are so blind to what has happened because of your large hate for republicans that you fail to realize it is a democrat majority that voted for this bill. and almost every republican that voted AGAINST the bailout is still in office


reply posted on 17-11-2008 @ 03:09 PM by HunkaHunka
Originally posted by LowLevelMason
reply to post by GamerGal


Wow, did you get those talking points directly from the Democrat National Committee?

These are the same republicans who OPPOSED the financial bail out and caused it to fail the first time. Senate Republicans advised House republicans to vote against the financial bail out, and they did. Perhaps you should be getting angry at your own political party, who is throwing money at whoever asks for it.

Get the facts. Stop the propaganda.

[edit on 16-11-2008 by LowLevelMason]


LowLevelMason

Could you explain to me why so many Republicans actually signed off on the bailout for the banks? I mean aren't they supposed to represent fiscal conservatism?

Good on the Repubs who didn't support it.. but what about those who did?


Secondly...
The only reason why GM et al have gone in the toilet ius because of their allegiance to Big Oil... it's about time they paid the price for having allegiance to anti-american companies

[edit on 17-11-2008 by HunkaHunka]


reply posted on 17-11-2008 @ 05:08 PM by GoalPoster
reply to post by marg6043


Once again, you're bang on.

Look at the hundreds of thousands of jobs leaching out of our system, our economy and our futures while we sit around claiming the Democrats are evil or the Republicans are repugnant, failing all the while to recognize theyre both the shipdeck gargoyls pointing plotting our course in this economic demise.

There's so much bicking over party lines and who's doing what to whom, virtually everyone is losing sight of the real losers in this situation.

Anyone ever stop to think that this is exactly what they want . . . for us to spend our time bitching at each other over who's the purveyor of the lastest political fellationism?

So, let's continue to argue between ourselves while they drain the coffers. Maybe we'll wake up, but my guess is we won't. And, when we're all extolling the virtues of red beans, rice and spam, they'll be safely giggling their way into their surf-n-turf sunsets.


reply posted on 17-11-2008 @ 05:16 PM by marg6043
reply to post by GoalPoster


You my friend are among those that see reality and what our nation has become in the hand of corrupted corporate elite politicians.

A nation that lies broken and fighting from within is a nation that is easily leeched for the comfort of those in power.

A nation that unite to fight the corruption is a danger to those in power.


reply posted on 17-11-2008 @ 08:38 PM by Raist
reply to post by marg6043


Amen, at least there are some out there that are intelligent to see things the way they are. I want to say both parties are corrupt but sadly I think all of them might be. Unfortunately we do not get a chance to see anything other than one of the big two in the government really.


So I will say that for the most part both the reps and the dems have sold us down the river and anyone who thinks change is coming I believe will be greatly disappointed. Thank you though for having the intelligence to go beyond this party or that is better than the other when they are both equally bad and should be tossed out of D.C. so that the people can once again be a part of the government.

Raist


reply posted on 17-11-2008 @ 09:11 PM by Rockpuck
reply to post by sos37



Totally agree. I don't understand those who would scream "Buy American cars! You're killing us!" when it's painfully obvious that buying an American car nowadays means there's a greater chance that I'll be taking it into the dealer for repairs more often.


If they get the bailout, they will use it to ship more jobs to Mexico, where the Dems will allow the NAU to formulate.

Sestias

It took a very, very, very large war to bring us out of the mess.

I agree with Mybigunit though, the big three will never "fail" .. They will be sold off in parts to other companies, and production will eventually return to normal.

It's not like this is the first auto maker to fail anyways..

Marge::


We has been robbed blind and all we do is bickering about who's party is lying to whom.


One party to rule them all!!

It's a bit concerning when leaders of both parties agree with each other on everything regarding this current... economic....... 'situation' ..

It's almost like.. someone says, behind the current "you will say this, nod, smile, wave, good boy.. now your turn Obama, ah yes an extra treat for you, who's a good boy? Who's a good boy?? Obama is, yes, good little B**"


Get over it and wake up!!!!!!!! before is to late!!!!!!!!!!!!!


The American people said HELL NO. Gov did it anyways. American people said (very quietly) .. "that wasn't very nice... greedy bastards)"

Then we bought a big mac, a twinki and sat down to watch Dancing with the Stars, and what latest Hollywood whore OD'd on crack while driving down the wrong lane of a highway.

Corruption and greed, consolidation of power and abuse of responsibilities. These destroy empires, but in all honesty, it's the complacency of the people to allow such events to unfold that inevitably destroy our once proud Republic.



reply posted on 17-11-2008 @ 11:36 PM by Avenginggecko
I just have a few comments to make from my perspective.

Those in favor of an auto bailout want to use the 700 billion that's already been approved. They don't want to use more money, they want to divert money that's already been allocated where they think it's necessary.

Second, the trickle down effect if GM failed would be huge. It's estimated that it could cost at least 2.5 million American jobs if the company went under. And you know what? Most of those jobs aren't even in the auto industry.

General Motors has the most at stake. There seems little doubt that GM will file for bankruptcy without a large cash infusion by the end of the year. The company ended the third quarter with about $16 billion on hand, but it needs $11 billion to $14 billion to continue normal operations. It burned through $7 billion in the third quarter.

What happens after a bankruptcy is a topic of debate.

GM executives, while refusing to discuss the chance of a bankruptcy filing, say that buyers would be unwilling to buy from a bankrupt automaker because of fears about resale value and warranties.

The company, along with credit analysts, has also questioned whether it could get financing to reorganize while in bankruptcy.

If GM were unable to pay its bills, it could be forced to liquidate and sell off assets rather than reorganize. And if it can't pay its creditors, auto parts suppliers would suffer and many would likely fail.

"The domino effect would be immense," said Deborah Thorn, a bankruptcy attorney who represents auto parts makers. "You can't afford to produce parts if you're not being paid."

And because the automakers have so much overlap in their supplier base, a closure at one parts maker could cause GM rivals to shut plants as well.

The Center for Automotive Research, an Ann Arbor, Mich., think tank pushing for a bailout, estimates a loss of nearly 2.5 million jobs if just half of the Big Three manufacturing capacity were shuttered - a possible scenario if GM files for protection.

About 240,000 of those job losses would be at the automakers, while 800,000 would be at various suppliers and dealerships. The other 1.4 million job losses would be at businesses that rely on automaker spending.

For example, the Big Three have made deep cuts in their advertising budgets. That is already fueling media industry layoffs. Reduced spending by auto company employees who lose their jobs would hurt stores and other businesses in cities where plants are located.


Auto Bailout: Showdown

The big worry here is about the domino effect, because while GM/Ford/Dodge etc. are competitors, their industries are all very entwined. We saw how the domino effect started with the financial industry, and that's why proponents of the bailout are nervous about this.

Of course, this might not happen and GM might be get back on it's feet if it has to declare bankruptcy, but it may not, and there's the rub I guess.


reply posted on 18-11-2008 @ 07:03 AM by marg6043
reply to post by Avenginggecko


Remember that the same excuses was used to pass the biggest scam in the history of this nation the bail out and still the economy is in the crapper because Paulson decided to take the money and do as he wanted with it and change his mind.

So much for the greatest crisis of all.

Now the same tactics are used to push the 25 billion dollar bail out for the auto makers.

This will be a totally different bail out that has nothing to do with the 700 billions that now stands at 2 trillion dollars of money that has been use for bail outs since the crisis started




[edit on 18-11-2008 by marg6043]


reply posted on 18-11-2008 @ 07:09 AM by marg6043
reply to post by Rockpuck


Actually GM has been trying to sell to India, China and Russia, so far both India and China decided to push their own brand of car making now expecting to get Americans credit addicts to buy their crap when ready.

But as the American economy keeps sinking and credit stays freeze I guess this countries will have a hard time selling in America, unless their products are so inexpensive that it will lure Americans consumers into buying their junk, because that is what it will be nothing but junk.
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