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post #1 of 13 (permalink) Old 03-30-2009, 09:01 AM Thread Starter
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Thumbs up Let em DIE!

Obama shortens Detroit's lifeline


...........In surprising findings to be outlined at the White House on Monday, President Obama has concluded that neither GM nor Chrysler as they now exist deserve more bailouts. But the White House is sparing them for a month or two, and is promising American consumers that the government will stand behind warranties if the automakers fail.

..........The administration found that both carmakers had failed to prove their “viability” as required under the terms of the massive government loans they’ve already received, and determined that neither should receive another bailout.

“We have unfortunately concluded that neither plan submitted by either company represents viability, and therefore does not warrant the substantial additional investments that they requested,” a senior administration official told reporters on a conference call Sunday night....................


W.H.: Chrysler small enough to fail


.........It turns out that Chrysler might be just small enough to fail.

In the end, the Obama administration decided to back General Motors – at least for 60 days – but to effectively wash its hands of the much-smaller Chrysler after only 30 days. Barring a last-minute rescue by Italian automaker Fiat, U.S. taxpayers won’t put up another penny to back the company...........................
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post #2 of 13 (permalink) Old 03-30-2009, 06:21 PM
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Not that I want to defend General Motors and Chrysler, but why the double standard? Trillions of dollars thrown at Wall Street without any strings attached, no need to show a "viable plan" to restructure to deserve the money, and for the automakers, all this scrutiny and then rejection of their proposals and forcing out the GM CEO? Why weren't all the Wall Street CEOs representing the failed institutions forced out?

Obama is digging a hole for himself - a pretty deep hole in my opinion. Hundreds of thousands of workers who work for these automakers and their suppliers voted and campaigned hard for Obama. They see this double standard. We are talking what? $40 or 50 billion total here? A tiny fraction of what was given to the bastards on Wall Street who got us into this economic and financial mess.

This is wrong time to play these games. Stock market tanked today and probably will tank for the next two weeks to erase any gains of the last two weeks. And when it comes to Obama's reelection, these auto workers just may vote for someone else.

Last edited by p100; 03-30-2009 at 06:24 PM.
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post #3 of 13 (permalink) Old 03-30-2009, 06:47 PM
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^^^
If there is ever another presidential election.

The speed of the actions taken (it's only a little over two months so far) means that as he continues to gather power unto himself, can "President for Life" be all that far in the offing?

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post #4 of 13 (permalink) Old 03-30-2009, 06:52 PM
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^^^
If there is ever another presidential election.

The speed of the actions taken (it's only a little over two months so far) means that as he continues to gather power unto himself, can "President for Life" be all that far in the offing?
Now that's funny. I need to slide over to the Shenanigans thread for the rest of the show.

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post #5 of 13 (permalink) Old 03-30-2009, 08:58 PM
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Originally Posted by p100 View Post
Not that I want to defend General Motors and Chrysler, but why the double standard? Trillions of dollars thrown at Wall Street without any strings attached, no need to show a "viable plan" to restructure to deserve the money, and for the automakers, all this scrutiny and then rejection of their proposals and forcing out the GM CEO? Why weren't all the Wall Street CEOs representing the failed institutions forced out?
You are hardly alone in raising that question.

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This is wrong time to play these games. ....
Ignoring the doublespeak in the words of the president, one should ask what that game might be. A possible answer is that the Obama administration sees GM as a tool for furthering its social and energy agenda. Obama foresees the government subsidizing the manufacture , sales and distribution of smaller cars.
The economy could just be a sideshow in this grand agenda.
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post #6 of 13 (permalink) Old 03-30-2009, 09:02 PM
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The economy could just be a sideshow in this grand agenda.
That's silly, milfy. This is a sideshow in the grand agenda. The amounts in this matter pale in relation to the Wall Street heist.

Nonetheless, it's sobering:
the government now is not only the ultimate guarantor of savings accounts and insurance policies — it will also cover that blown transmission.
http://www.nytimes.com/2009/03/31/bu.../31assess.html

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post #7 of 13 (permalink) Old 03-30-2009, 09:08 PM
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That's silly, milfy. This is a sideshow in the grand agenda. The amounts in this matter pale in relation to the Wall Street heist.
I wouldn't be so certain about that since we are only at the beginning.
Running GM is not a one year deal with those goals I posted about.

Quote:
Nonetheless, it's sobering:
the government now is not only the ultimate guarantor of savings accounts and insurance policies — it will also cover that blown transmission.
http://www.nytimes.com/2009/03/31/bu.../31assess.html
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post #8 of 13 (permalink) Old 03-30-2009, 09:11 PM
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I got a sick feeling reading that article

'Why should one not tolerate this life, when so little suffices to deprive one of it?' --Raymond Queneau
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post #9 of 13 (permalink) Old 03-30-2009, 11:46 PM
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It is past the time for the General and Chrysler... Let them pass into the wind, there is no reason to keep bailing them out... I guess in short fuck'em, break them up, what's not viable sinks, and them rest forms into a new company...

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post #10 of 13 (permalink) Old 03-31-2009, 04:00 AM
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Originally Posted by mcbear View Post
Now that's funny. I need to slide over to the Shenanigans thread for the rest of the show.
If you wouldn't mind just popping this up in the left corner...


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