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Thread: Auto bailout collapses in Senate

  1. #101
    ♫♪ ♫♪ ♫♪ ♫♪ downhill's Avatar
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    Humm.....all this bellicose crap about the UAW and I read this.

    AP study finds $1.6B went to bailed-out bank execs


    Yes let's not help industry or the middle class and let's turn a blind eye to once again, corporate cronyism.

  2. #102
    Conspiracy Fool knightmare's Avatar
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    Banks that got bailout funds also paid out millions for home security systems, private chauffeured cars, and club dues. Some banks even paid for financial advisers. Wells Fargo of San Francisco, which took $25 billion in taxpayer bailout money, gave its top executives up to $20,000 each to pay personal financial planners.


    Yeah, lets blame the slowly shrinking, middle class workers for all of this economic fallout.
    “"A wise man can learn more from a foolish question than a fool can learn from a wise answer."”

    Bruce Lee

  3. #103
    Ohh Hell yeah.. Sava700's Avatar
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    Quote Originally Posted by downhill View Post
    Humm.....all this bellicose crap about the UAW and I read this.

    AP study finds $1.6B went to bailed-out bank execs


    Yes let's not help industry or the middle class and let's turn a blind eye to once again, corporate cronyism.
    Its gone main stream news now
    http://www.cbsnews.com/stories/2008/...pStoryHeadline

    what a waste of tax money..

  4. #104
    Conspiracy Fool knightmare's Avatar
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    U.S. May Give Car Czar Power to Force Bankruptcies

    http://www.bloomberg.com/apps/news?p...efer=worldwide


    (Bloomberg) -- The U.S. Treasury may adopt a plan that would let a car czar or the Treasury secretary force General Motors Corp. and Chrysler LLC into bankruptcy if the automakers don’t show they can survive without government aid, a U.S. senator said.

    GM and Chrysler would be required to submit viability plans by March 31 or lose any further U.S. support, Carl Levin, a Democrat from Michigan, told reporters in Detroit yesterday. The Treasury plan would resemble a measure passed by the U.S. House last week that was rejected by the Senate.

    “I expect that the terms would be similar to the ones that were in the House bill,” Levin said. “The power rests in the hands of either the czar or the Secretary of the Treasury to force bankruptcy by March 31.”
    “"A wise man can learn more from a foolish question than a fool can learn from a wise answer."”

    Bruce Lee

  5. #105
    Ohh Hell yeah.. Sava700's Avatar
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    not greedy huh..imagin this....

    UAW Vows To Fight Auto Bailout Terms


    The nation's automakers are preparing to ask for wage and benefits concessions from their workers in early January to meet the conditions of a $17.4 billion federal aid package, but labor officials say they will seek to renegotiate the terms of the bailout rather than make those sacrifices.
    http://www.cbsnews.com/stories/2008/...ome;topStories

    Don't want to give up nothin to save their jobs is kinda stupid too.. wow just wow!

  6. #106
    Moderator Roody's Avatar
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    Poll: Public OK with auto bailout, but no more aid

    WASHINGTON (CNN) -- A new national poll Monday finds a majority of Americans approve of recent loans to big U.S. automakers, but less than 3 in 10 would support additional assistance.

    Sixty-three percent of those questioned in a CNN/Opinion Research Corp. survey support the White House loaning more than $13 billion to American automakers Chrysler and General Motors, while 37 percent opposed the move.

    In exchange for the loans, the deal calls for the auto companies to show by the end of March plans for viable new business models.

    The poll numbers out Monday are drastically different from a similar poll from early December.

    Sixty-one percent of those questioned in a CNN/Opinion Research Corp. survey out December 3 were against the federal government providing billions of dollars to the automakers, with 36 percent favoring such a bailout. Watch why six in 10 support the bailout »

    Monday's poll shows 53 percent of Americans don't think government assistance for the automakers will help the U.S. economy.

    But just 28 percent said they would approve providing the automakers with more money, while 70 percent said they would prefer to let them go bankrupt. Watch: Auto bailout explained »

    "The opposition to any additional assistance may be a reluctance to spend more money that they think the government may never see again," Holland added. "Only 28 percent say the auto companies involved in the current program will be able to pay all or most of the $13 billion back; one in five say they will not be able to pay any of it back to the government.

    "This perceived lack of ability to pay taxpayers back may be one reason why the poll indicates auto executives are not very popular with Americans. Eighty-two percent of those questioned have a negative view of auto executives."

    Union leaders don't fare well either: Sixty-one percent of those polled have a negative view of them.

    Two-thirds of those polled said they would be less likely to buy a car from an auto company in bankruptcy.

    The CNN/Opinion Research poll was conducted Friday through Sunday, with 1,013 adult Americans questioned by telephone. The survey's sampling error is plus or minus 3 percentage points.
    http://www.cnn.com/2008/POLITICS/12/...out/index.html

  7. #107
    Ohh Hell yeah.. Sava700's Avatar
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    I didn't get asked that question or else I would disagree. Its easy to see the UAW won't get off its greed high horse and make concessions so the money needs to come back and then let them go bankrupt so the big 3 can void contracts and leave the UAW in the dust.

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