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Obama Says He Has 'No Intention' of Running General Motors

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posted on Mar, 30 2009 @ 01:35 PM
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reply to post by grover
 


The government has gone too far in assuming the role of selective santa claus in a vain attempt to float this economic collapse down.

The sooner they get out of trying to run business and get back to serving the people, the sooner the chips will fall where they may and the country can start the recovery process.

It is completely unethical and probably unconstitutional what is happening in DC right now.

Since when does the government have the right to choose who will be allowed to fail and who will be bailed out, since when do they have the power to TELL a business how to operate?

Where in the Constitution is this power granted?

BTW, I wouldn't give them any money, then again I wouldn't have given any of the bailed out entities ANY money, I know I am not the only one around here who lost a substantial amount of my reitrement fund over the past year, now on top of that the Congress and Administration are basically wiping out the remainder with my expected taxpayer portion of this bailout, (I read somewhere it would equal $80K+ per household).

On top of that all of the NEW Taxes coming down the line ie carbon etc.. and elimination of some deductions being slipped in here and there. All this before the health care program being promised.

We (taxpayers) will be footing that bill as well.

I do hope the health care deal comes soon though, with these daily Jaw drops to the floor moments, I am sure I will be taking a trip to the local hospital to get my broken jaw fixed, and I won't be the only one.

Let's just agree that it is a BIG MESS, with no end in sight


Time to get the seeds in the ground and work hard for a bountiful harvest a few months down the line




posted on Mar, 30 2009 @ 01:38 PM
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The part of this that strikes me as treasonous is forcing a US company that is involved in manufactoring merge with a foreign company before you give them tax money.

This is ludicrous, just like AIG.



posted on Mar, 30 2009 @ 01:40 PM
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reply to post by JacKatMtn
 


But if the busniesses that are "too big to fail" won't do it themselves then who?

Also when asking where in the constituition... were you asking that when bush minor was using it as toilet paper?



posted on Mar, 30 2009 @ 01:40 PM
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Originally posted by nixie_nox

Fact is, the CEOs should step down. They need better leadership.


so does the world...


i think i need 2 lines right?



posted on Mar, 30 2009 @ 01:44 PM
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reply to post by grover
 


No need to drop the Bush bomb grover, this whole mess goes WAY back and both sides are complicit so I won't dive into partisanship, especially when I locate myself near the center


Also that Too Big to Fail BS lost it's luster since the government has been allowing those TBTF, to actually grow larger, letting them absorb competition deemed not worthy of a bailout, thus their TBTF argument lost all credibility since they have done nothing but make those TBTF BIGGER.

IMO.



posted on Mar, 30 2009 @ 01:52 PM
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Even though I don't like it one iota I understand what "too big to fail" actually means in terms of real people and real jobs... I mean I don't give a rat's ass about the hedge fund managers and stock brokers and the CEO's... I understand it from the little guy level... and really the only way to deal with it is to do what American and European powers did in the late 18th and early 19th centuries when it came to corporations... limit their size and their charter.

No company should be allowed to get so big that its failure would threaten the national economy... but now that we are there... the options all the way across the board are pretty paltry.



posted on Mar, 30 2009 @ 01:56 PM
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reply to post by grover
 


I can understand that angle, but one thing to remember is that with ALL of that money being shoveled out the front door...

Be very keen to keep an eye out for that back door where they (GOVT), will be looking to the little guy to be shoveling that money back in through a variety of means.








[edit on 3/30/2009 by JacKatMtn]



posted on Mar, 30 2009 @ 02:43 PM
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reply to post by grover
 

We should believe him why, the man is a liar he has done nothing but lie to the American people doesn't matter anyhow GM is History! People are not going to magically start buying their cars because they got bailed out.



posted on Mar, 30 2009 @ 02:44 PM
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Originally posted by kozmo
Oooops, to late Obama! You already started running GM


The GM CEO, which by the way everybody here scoffed at not too long ago, had the power to make his own decision as to whether to leave. Dont care what the big bad president said, the CEO had a choice and made that choice. Stop defending him.


When u fired it's CEO!


He didnt fire the CEO. Regardless of what he said the CEO had a choice and made it.


'Don't pay attention to what I do, just listen to what I say and believe it' mentality


Another example of the far right fringe mentality... cry foul about the wealthy when it suits your campaign, then defend them outright when your screaming "socialismisms".

He had a choice. He made that choice.



posted on Mar, 30 2009 @ 02:49 PM
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reply to post by kozmo
 


Bingo!!!!!!

He doesn't have to to run the auto industry he just appoints some recycle trash like he is been doing since he took government and let them run it like the pros they are, after all the same trash is the one that put this nation where is right now, in its knees.

America has become a big ponzi scheme where only the few are allowed to play and win.



posted on Mar, 30 2009 @ 02:49 PM
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Straight out of Atlas Shrugged.


Originally posted by nixie_nox
Demanding the resignation is not the same as forcing the resignation.

You're kidding, right? The President of the United States demanded the resignation. He got it. There is no way that could be fought. It was definately forced.


Originally posted by kozmo
Fact is they should be left alone to fail!

Exactly. A free market society without the fear of bankruptcy is like Christianity without the fear of hell. It doesn't work.



posted on Mar, 30 2009 @ 02:52 PM
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Originally posted by grover
No company should be allowed to get so big that its failure would threaten the national economy... .


Grover .. buddy ... seriously, have you read ATLAS SHRUGGED?
What you just said is straight out of the book.
And know what happens at the end of the book when people
who think like this get their way?

The world economy fails.

You may say it's just a fictional book.
But read it and take a look around. It's prophetic.



posted on Mar, 30 2009 @ 02:53 PM
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Originally posted by FlyersFan
You're kidding, right? The President of the United States demanded the resignation. He got it. There is no way that could be fought. It was definately forced.


No his not kidding. The CEO made his own choice. The CEO had a choice. Dont come here with the big bad president mentality, it sounds like a broken record here. The CEO had a choice and made that choice.


Originally posted by kozmo
Exactly. A free market society


A "free market society" that had been implemented countless times in past, during the earl 70s, 80s and 2000s and each time we find ourselves left with triple the amount of debt and major financial crises to follow. The "free" market ploy has tired itself out.



posted on Mar, 30 2009 @ 02:57 PM
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reply to post by Southern Guardian
 


That is why government intervention has prove that meddling is always wrong and costly to the tax payers in the nation.

This time the meddling has gone farther, now is our own government the one that will collapse our Nations economy.



posted on Mar, 30 2009 @ 03:00 PM
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One interesting thing I've not seen mentioned is this...

Yahoo - Obama on Car Industry


It is my hope that the steps I am announcing today will go a long way towards answering many of the questions people may have about the future of GM and Chrysler. But just in case there are still nagging doubts, let me say it as plainly as I can -- if you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired, just like always. Your warrantee will be safe.

In fact, it will be safer than it's ever been. Because starting today, the United States government will stand behind your warrantee.



Is he saying that if GM goes under anyway that the govt will repair your car under warrantee?



posted on Mar, 30 2009 @ 03:01 PM
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reply to post by FlyersFan
 


Yes I've read Atlas Shrugged and I had to go into therapy afterwards... it was one of the poorest written book I have ever read.

I have no idea what the right sees in it.



posted on Mar, 30 2009 @ 03:05 PM
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Originally posted by marg6043
That is why government intervention has prove that meddling is always wrong and costly to the tax payers in the nation.


Ill say this again, the CEO had a choice whether to leave an he did. Doesnt matter what the big bad president said, the CEO made that choice. As for government intervention there need to be any if the markets and wallstreeters are not left to completely run amock without the proper laws in place that protect the tax payer.

As the result of a deregulated market private speculative entities were allowed to own oil shares and drive up prices collectively, making us suffering during what was already an oil war, due the regulation companies were allowed to blow billions of loans and mortgages they were held responsible for. The deregulated market allowed folks like Madoff and stanford to get away as they were. A whole heap of crap was found under the mattress and sitting right on top of it all these years was mr "free" market himself and mr rightwing contrarian. Get off it.


This time the meddling has gone farther


Again Ill say it. The CEO had a choice and made it.


now is our own government the one that will collapse our Nations economy.


The economy already collapsed under yet another "free market conservative president". The damage has been done, now it will take alot longer than just a year for us to see any recovery, whatever solution.



posted on Mar, 30 2009 @ 03:07 PM
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Originally posted by grover
reply to post by FlyersFan
 


Yes I've read Atlas Shrugged


Atlas shrugged? Thats like telling a conservative to go read a far left stalinist book
are you serious why did you make yourself suffer like that!



posted on Mar, 30 2009 @ 03:14 PM
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reply to post by Southern Guardian
 


He was coerced into stepping down with 2.2 million dollars and not severance pay.

again he was asked not choice, he had none, plain and simple or the company will have to face no more bail out money.



posted on Mar, 30 2009 @ 03:19 PM
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If i was him i'd resign as soon as i was given the chance.

I wouldn't want to have to deal with the government everyday trying to tell me how to run my company.

This is nothing but another sideshow anyway.

This move makes no difference whatsoever.

They (ACTUALLY TAXPAYERS UNWILLLINGLY) already had control of the auto industries after they gave them the first penny of bailout money.

I'm getting a little tired of watching politicians deciding what they are going to do with money i have yet to earn.



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