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BenzWorld Elitist
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Discussion Starter #1
Many of the same Republicans who voted in favor of the multi-trillion-dollar bailouts for Banks & Wall Street have stepped up to kill the Big-3 rescue plan. This wasn't even a bailout, really, mostly a loan-guarantee scheme.

Of course they know the shock waves which will ricochet through the American economy if one or more of the Big 3 is forced into bankruptcy. The job losses will be staggering. But, they wager, it'll be next year and they'll be able to pin it on Barack and the Democrats.


December 12, 2008
Auto Bailout Appears Halted in Senate as G.O.P. Resists
By DAVID M. HERSZENHORN and DAVID E. SANGER

WASHINGTON — The prospects of a $14 billion government rescue of the American auto industry seemed to vaporize Thursday as the Senate Republican leader, Mitch McConnell of Kentucky, spoke out forcefully against the bill, effectively ending its chances despite the urgings of the White House.

In a speech on the Senate floor, Mr. McConnell said he and other Republicans had drawn a clear distinction between the Treasury’s $700 billion economic stabilization, which they helped pass in October, and the proposal to aid the American automakers, which he said raised questions about which industries or individuals deserve help...​

http://www.nytimes.com/2008/12/12/business/12auto.html
 

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I am sorry to say this but good. No one is bailing or loaning us out of personal debt. Plus, I would have been extremely pissed to see the Auto makers line their accounts, while teachers, and school workers suffer. It would not have made sense.
 

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This bailout total is only three months worth of funding the phony war in Iraq, which was based on nothing but lies. And nobody in Congress seems to have any problem with it.

If this bailout fails, the economy will suffer further and the stock market will plummet. And nobody wins. :(
 

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This bailout total is only three months worth of funding the phony war in Iraq, which was based on nothing but lies. And nobody in Congress seems to have any problem with it.

If this bailout fails, the economy will suffer further and the stock market will plummet. And nobody wins. :(
Yep.
 

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BenzWorld Elitist
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Discussion Starter #6
I am sorry to say this but good.
Sly, the job losses will cascade throughout the economy and the mess we're in now will seem like a picnic by comparison.

And as we've noted before, the entirety of this plan is trivial in relation to the size of the Wall Street bailouts, which moreover have been done with precious little oversight :mad:
 

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This bailout total is only three months worth of funding the phony war in Iraq, which was based on nothing but lies. And nobody in Congress seems to have any problem with it.

If this bailout fails, the economy will suffer further and the stock market will plummet. And nobody wins. :(
Gas prices will go lower:thumbsup:
 

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Many of the same Republicans who voted in favor of the multi-trillion-dollar bailouts for Banks & Wall Street have stepped up to kill the Big-3 rescue plan. This wasn't even a bailout, really, mostly a loan-guarantee scheme.

Of course they know the shock waves which will ricochet through the American economy if one or more of the Big 3 is forced into bankruptcy. The job losses will be staggering. But, they wager, it'll be next year and they'll be able to pin it on Barack and the Democrats.


December 12, 2008
Auto Bailout Appears Halted in Senate as G.O.P. Resists
By DAVID M. HERSZENHORN and DAVID E. SANGER

WASHINGTON — The prospects of a $14 billion government rescue of the American auto industry seemed to vaporize Thursday as the Senate Republican leader, Mitch McConnell of Kentucky, spoke out forcefully against the bill, effectively ending its chances despite the urgings of the White House.

In a speech on the Senate floor, Mr. McConnell said he and other Republicans had drawn a clear distinction between the Treasury’s $700 billion economic stabilization, which they helped pass in October, and the proposal to aid the American automakers, which he said raised questions about which industries or individuals deserve help...​

http://www.nytimes.com/2008/12/12/business/12auto.html
Comparing the rescue of the financial sector of our economy to the rescue of the auto industry reflects incredible ignorance. It is so stupid I don't even know where to begin, so I won't try...
 

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Sly, the job losses will cascade throughout the economy and the mess we're in now will seem like a picnic by comparison.

And as we've noted before, the entirety of this plan is trivial in relation to the size of the Wall Street bailouts, which moreover have been done with precious little oversight :mad:
If every one that thangs this bail out is a good thing would just go out and buy a new chevy GM wouldn't need a (bail out loan) so unless your willing to do that shut the hell up.
 

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Comparing the rescue of the financial sector of our economy to the rescue of the auto industry reflects incredible ignorance. It is so stupid I don't even know where to begin, so I won't try...
+1

Not to mention the fact that the Republicans got a heck of a lot of crap in the face from their constituents about their votes for the bailout. I know Chambliss got an earfull from a lot of conservatives when he was asking for money to finance the runoff between him and Martin.
 

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BenzWorld Elitist
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11,490 Posts
Discussion Starter #20
Good God. I don't think we're going to rehash all this again. But manufacturing, for all its faults, actually produces tangible objects of real value which may--for instance--be sold to other countries and which thereby enrich this country.

Wall Street produces financial chicanery, the principal effect of which is to enrich a tiny minority at the top of the food chain and impoverish everyone else.

They also own Washington though, not to mention most of the mass media, so they get their trillions in free money while the manufacturing sector languishes and dies. Just wait and see what the effects of this will be--oh wait, it's already begun.
 
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