Comments on: Bush’s Awful Auto Bailout

By: aaron4unitruth, DEL

aaron4unitruth, DEL — Mon, 22 Dec 2008 18:35:28 +0000

There are many reasons why the bailout of Wall street and the auto industry is wrong but most importantly because the federal government is far more powerful than it was ever meant to be. Now the government can be a stockholder? Sounds too much like socialism. http://www.theartdeptchronicles.blogspot.com

By: Mike, Clinton Twp, M

Mike, Clinton Twp, M — Mon, 22 Dec 2008 14:22:43 +0000

I'm sorry, but, I don't think many of my conservative brother and sisters get this(by the way I am and have been all my adult life a conservative) FIRST, this is NOT a bail out. It is a LOAN, one that had the government (read congress) not totally screwed upped the financial system, the auto makers could have gone to the banks to get. Second, the BAILOUT the banks got was SUPPOSED to open the credit markets. But since in their infinite wisdom, they threw $700 billion at the financial industry with no strings (they saved all of them for the auto industry)attached, the banks all just $ta$hed it away. RESULT – No credit…no car sales. However, I see the execs from AIG had a heck of a time on their retreat. Third, as much as I would like to let the free market work, if you have ANY understanding of the auto industry, you will know that the free market doesn't exist in the auto business. The imports are subsidized by their governments, our automakers are heavily tariffed to sell in those countries. Fourth, The implants waltz with our states throwing billions of dollars at them, so, suprise, they have lower overhead costs. Fifth, the legacy costs, and yes they are too high but they are the cost of building the auto industry, are something that the implants don't have. They sure are able to take advantage of all the American companies did to build the business so they could just come on down. Sixth, you say the Big 3 didn't build want the people wanted…that is why Toyota, Honda and Nissan were killing themselves to get those full size trucks on the market, because they knew they wouldn't sell…yeah right! #7, gas went up to unheard of prices because our congress can't get their proverbial heads out of the sand and open up drilling our own oil. Do that and we solve several issues. My last point, the Auto industry can't not fail…the costs would be far worse if they close. I wish I could see a show of hands on how many people would by cars from a car in company in bankruptcy…gosh, I don't see many hands up.

Yes there are issues the companies need to address, the Job Bank, is my personal fave, but and I am no union sympathizer, the UAW and the companies have made progress. They still have work to do, lots of work to do (read good by jobs bank), but they do not have wages that are as out of line as has been said. The new hires coming in are doing so at much more competitive rates. One last thing, we, the taxpayers, made money when Chrysler got its loans way back when, and the loan was paid off ahead of schedule.

There are many different ways taht I would have liked to see this resolved, but, congress pretty much left the auto makers with no viable choices, so I guess they should pony up. Maybe we can get them to reduce their salaries to one dollar until we get the budget ballanced, they can give up their cushy pensions too…

yes I do believe in the tooth fairy, the Easter Bunny and Santa, too!

By: Andrea, Louisiana

Andrea, Louisiana — Mon, 22 Dec 2008 13:33:09 +0000

Whatever happened to Capitalism. If you succeed you succeed through your own good work and ideas. If you fail, you fail it is because you didn't make good business decisions.

I am in disbelief of what has just occurred. When will the American people take a stand and tell our idiotic leaders that enough is enough especially when we, our children and our children's children will be footing the bill for generations to come.

By: Bush pushes limits on presidential authority « Principally Political

Bush pushes limits on presidential authority « Principally Political — Sun, 21 Dec 2008 22:38:55 +0000

[...] Heritage Foundation: Bush’s Awful Auto Bailout [...]

By: JB

JB — Sun, 21 Dec 2008 00:08:48 +0000

Bush and Obama are going to combine to be little Nero fiddling while Rome burns.

They could have announced a flat tax across the board to stimulate the economy (which actually stands a chance of working). Instead they choose to hand billions to idiot bankers and moronic unions and car execs.

Dems are going to get more of that "equality" they so often squawk about; everyone will be equally miserable. The writing is on the wall; those that can read it should be buying guns and ammo. The rest of you should be prepared to burn.

By: Bush Auto Bailout Illegal, Bailout Supporter Admits | OpenMarket.org

Sat, 20 Dec 2008 21:17:12 +0000

[...] out American automakers probably won’t be limited to the initial $17.4 billion in (unlikely to be repaid) loans the Bush Administration has given the automakers. Analysts have predicted that repeated infusions [...]

By: 3 Little Piggies Gorging Selves at Gov’t Trough « America, You Asked For It!

Sat, 20 Dec 2008 20:37:18 +0000

[...] Bush’s Awful Auto Bailout–The Foundry Possibly related posts: (automatically generated)Heads I Win, Tales You LoseTaxpayer group responds to President Bush’s budget proposalPeeling the onion called KatrinaRepublicans to Detroit: Drop dead [...]

By: Alex, 02138

Alex, 02138 — Sat, 20 Dec 2008 15:47:59 +0000

This article is hilarious. After enthusiatically supporting Bush and endorsing all his policies, the Heritage Foundation is shocked, shocked to discover that Dubya has no convictions, does not respect the role of Congress, and is motivated entirely by vanity.

By: rdk, Fairhope, Al

rdk, Fairhope, Al — Sat, 20 Dec 2008 10:13:59 +0000

President Bush, whether right or wrong, did what he always does. He had the courage to carry out his convictions. What he did was to temporarily save GM and allow GM to formulate and start executing a plan for survival in some sort of restructured mode. Obama and his economic team will have to complete the job.

By: The Intellectual Red

The Intellectual Red — Sat, 20 Dec 2008 07:45:49 +0000

The GM, Chrysler, UAW bailout out is doomed to fail The UAW bailout is underway now. The Bush administration has decided to loan billions to GM and Chrysler to keep them afloat for a few more months. By some estimates, this money will run out by the end of March. They are supposed to become financially viable by March 31. They have been instructed to negotiate with debt holders, suppliers and the UAW. I believe the debt holders will play ball. The supply base has already been wrung dry by years of cost reduction demands. They have little to bring to the table. The UAW is already squealing about this plan being unfair to them. And while the United Auto Workers said the plan would keep factories running, the union said it was upset by loan conditions "singling out workers." "We will work with the Obama administration and the new Congress to ensure that these unfair conditions are removed," said Ron Gettelfinger, president of the UAW. Read more here.