Big 3 auto bailout coverage

Jonny_B said:
the people in Capital Hill aren't asking for 25 million dollars to bail out their businesses though. and they often fly commercial.
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No, they just asked for 700 billion to buy up 'poison' mortgaged properties, and instead turned around and gave the money directly to the banks instead.

Seriously, I know I can't be the only person to see that the US people got it right up the ass on this bailout thing, and we were deliberately lied to.
 
w_a_w said:
they need to file chapter whatever and rebuild with new management...obviously the current jerkoffs are worthless and giving them free monies will only perpetuate that
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they can't file for protection while restructuring because no one will give them a DIP loan. If they file, they won't have any cash available to continue operating.
 
The Duke Of Nuke said:
No, they just asked for 700 billion to buy up 'poison' mortgaged properties, and instead turned around and gave the money directly to the banks instead.

Seriously, I know I can't be the only person to see that the US people got it right up the ass on this bailout thing, and we were deliberately lied to.
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they didn't give it to the banks, they bought preferred equity in the banks. there's a big difference.

also, they didn't take the money for themselves, they spent it on our behalf.
 
The Duke Of Nuke said:
I kind of doubt that. The airlines fiigured out a way to do it.
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the airlines had a business that was fundamentally sound, but going through a tough spot. financiers were more than happy to loan them cash to keep operating while they restructured. the auto companies are at the bitter end of a long downward spiral. no need to waste money buying a few months of life support.
 
yeah man.. when 8 or so of 10 restaurants go under in the first year, I just can't see why ANY business should be above bad business.


we've wanted to open a spot, but being a numbers guy, I would have to have a much better chance before I took out a business loan.
 
You know they will eventually get bailed out but it's B.S. They should be required to develop/release alternative fuel cars within a reasonable time line. And release a few series of lowered price cars and discontinue high polluting cars. But it will probably never happen.
 
Valve1138 said:
Looks like the bailout is having direct affect on the future of SiriusXM.

If GM goes down, Sirius loses a ton of new subscriptions and might actually fold.
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and this will be their argument that gets em the bailout. it's not so much JUST the auto industry and jobs, but the auxiliary jobs that will also lost. marketing jobs, trucking jobs, etc.
 
The government bailing out people is telling people that you can run your company like shit, loot it, and we'll just give you more money. I haven't seen a drastic drop in car prices that would indicate to me that car companies are willing to do anything to save the companies on their own. They should be put into a special type of externally managed bankruptcy instead of an all out bailout.
 
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