Senate Republicans Kill Big-3 Auto Rescue Plan - Page 6 - Mercedes-Benz Forum

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post #51 of 181 (permalink) Old 12-11-2008, 08:12 PM
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post #52 of 181 (permalink) Old 12-11-2008, 08:20 PM
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True. This one will have a more specific impact on the American Taxpayer and will cascade throughout the economy in ways the small minded Neocons can't even imagine. That inability to understand economics by the NeoCon right has caused entirely too much damage to this economy.

They threw away a bargain tonight. Cleanup costs will be 10X.
Cleanup costs will be -10X after they restructure!

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post #53 of 181 (permalink) Old 12-11-2008, 08:31 PM
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Cleanup costs will be -10X after they restructure!
Nope. After N number of plants move out of country and unemployment increases and cities and states have to either completely revamp their budgets, raise taxes, ask for a bailout or go bankrupt, the costs will become evident.

There is NOTHING that supports the notion that restructuring will not cost taxpayers large monies.

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post #54 of 181 (permalink) Old 12-11-2008, 08:35 PM
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There you kookbergers go again...
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post #55 of 181 (permalink) Old 12-11-2008, 08:38 PM
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There you kookbergers go again...
Funny, I somehow remember you saying that very thing, with that very graph in September 2006 and every month afterwords as we posted up again and again the oncoming train that is the Bush Recession of 2007-2009.

And hopefully that is the entire timeframe.


So yep. Here we go again. You might want to pay attention THIS TIME.

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post #56 of 181 (permalink) Old 12-11-2008, 09:03 PM
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U.S. Senate fails to reach auto compromise deal

WASHINGTON, Dec 11 (Reuters) - Senate negotiators failed on Thursday night to reach a compromise deal to bail out U.S. automakers, Senate Majority Leader Harry Reid said.

"There is too much difference" between negotiators to reach an agreement, he said.

Reid said the chamber would attempt to proceed with a Democratic-sponsored plan, but predicted it would not pass.

"It's over with," the Nevada Democrat said.

U.S. Senate fails to reach auto compromise deal | Deals | Mergers & Acquisitions | Reuters

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post #57 of 181 (permalink) Old 12-11-2008, 09:06 PM
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Funny, I somehow remember you saying that very thing, with that very graph in September 2006 and every month afterwords as we posted up again and again the oncoming train that is the Bush Recession of 2007-2009.

And hopefully that is the entire timeframe.


So yep. Here we go again. You might want to pay attention THIS TIME.
Your early-onset Alzheimer's kicking up again? Or is it just your usual hallucinations??

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post #58 of 181 (permalink) Old 12-11-2008, 09:08 PM
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I bought FAZ today before close, hope to score tomorrow. Futures are down 316 points at the moment.

WASHINGTON (AP) -- A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.


Workers leave the Chrysler Truck Assembly plant in Warren, Mich., Thursday, Dec. 11, 2008. Prospects for a $14 billion auto industry rescue bill dimmed Thursday amid growing opposition in both parties and despite urgent appeals by both President-elect Barack Obama and President George W. Bush. (AP Photo/Paul Sancya)

Senate Majority Leader Harry Reid said he was "terribly disappointed" about the demise of an emerging bipartisan deal to rescue Detroit's Big Three.

He spoke shortly after Republicans left a closed-door meeting where they balked at giving the automakers federal aid unless their powerful union agreed to slash wages next year to bring them into line with those of Japanese carmakers.

Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts -- but not until 2011.

Reid was working to set a swift test vote on the measure Thursday night, but it was just a formality. The bill was virtually certain to fail to reach the 60-vote threshold it would need to clear to advance.

Reid called the bill's collapse "a loss for the country," adding "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."

The implosion followed an unprecedented marathon set of talks at the Capitol among labor, the auto industry and lawmakers who bargained into the night in efforts to salvage the auto bailout at a time of soaring job losses and widespread economic turmoil.

"In the midst of already deep and troubling economic times, we are about to add to that by walking away," said Sen. Chris Dodd, D-Conn., the Banking Committee chairman who led negotiations on the package.

Sen. Bob Corker of Tennessee, the GOP point man in the talks, said the two sides had been tantalizingly close to a deal, but the UAW's refusal to agree wage concessions by a specific date in 2009 kept them apart.

The autoworkers' contract doesn't expire until 2011.

http://finance.yahoo.com/news/Auto-b...-13813530.html

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post #59 of 181 (permalink) Old 12-11-2008, 09:11 PM
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Your early-onset Alzheimer's kicking up again? Or is it just your usual hallucinations??
I think it must be the repetition and astonishment.

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post #60 of 181 (permalink) Old 12-11-2008, 09:13 PM
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I think it must be the repetition and astonishment.
You'll get over it, w/ a good night's sleep.

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