My question is "why"???? Let them fail! This is what they get for building crappy cars for the past 30 years. Why are we propping up a company that is continuing to build crappy cars that no one wants to buy? It is time to let these companies fail!

If the government had been doing its job, enforcing anti-trust laws, then NONE of these companies would be "too big to fail". The failure of companies have helped America remain a dominating force in the world. When one company fails, ostensibly due to the fact that either their products or service are crap, then a better company with a better widget steps up and takes over. By propping up mediocrity you are guaranteeing that this economy will remain on a treadmill - running faster to stand still!

And I'm not interested in hearing about saving jobs - the unions and the management deserve to be unemployed. They created the mess that the company is in today. why should I, as a tax-payer, be forced to invest in a crappy company?

Obviously GM has no idea what it is doing at all. How can so many smart people be so ignorant? I just cannot believe we are doing this again...........LET THEM FAIL. It happens all the time and the world continues to spin......stop bailing out these idiots......man oh man...

This is exactly the problem with having government own any part of a company -- complete conflict of interests.

Just like the BoA/Merrill Lynch debacle, the government more than likely 'steered' them in the direction of acquisition. The trade-off? Assurance that no matter what, the government won't allow them to go under. Which of course poses a huge problem when the companies involved have not recovered, but instead are still bleeding.

At some point one has to cut the apron strings -- but since it's also the government's apron, it's very unlikely this will happen.

I'm not sure about the rest of you, but I feel very duped by this whole stimulus bill. Perhaps I was just being naive, but I never realized - or thought about - the fact that this would become a never-ending line of credit. At this point, I am not at all comfortable with the government still having this money to simply dole out to whomever they see fit whenever the need arises. All the while collecting the interest on our money while it sits waiting for distribution to the next leech.

I guess I thought there would be some kind of time limit or something. At what point does one say, "OK....enough is enough. There is no saving XYZ company no matter how much money we pump into it.?"

A protest should be in order. A simple message: "We want our money back. No more bailouts!"

All this bailout money does is extend the inevitable. If they haven't managed to recover after all the layoffs, management changes, cut wages, and billions and billions of dollars -- they are not going to recover. Period.

There is way too much winking, nodding, deal-making, and check writing going on at this point. Yes, it always has -- but the fact that it has become SO blatant -- and with OUR money to boot -- shows you the extreme arrogance of this administration.

No more bailouts!

Originally posted by kozmo
My question is "why"????

Well this administration is seeking ways on how to harness profits from the private sector in order to spread wealth world wide. What better way then to absorb some of largest manufactures and "bail" them out with tax payers money? Why look for ways to win over the private sectors charity(largest contributors) contributions when you can just take over a company and pay it with tax payers money.

I'd be interested in seeing an itemization(LMAO, right) on where every single penny of not only the auto bailouts are going, but where all the stimulus is going. My bet is it's outside the country and we've(and my grandkids who arn't even born yet) virtually become slaves to the World over night.a






[edit on 28-10-2009 by Tyr Sog]