More bailout money for GM
11-04-09, 08:08 AM
#1
Lexus Test Driver
Thread Starter
More bailout money for GM
The Obama administration said last week that it is currently in talks to provide a third bailout package to GM, which might be as hight as 5.6 billion dollars.
Am I the only one who is getting sick of the administration giving away tax payer's money for big cooperation that do not plan to pay it back. Will the US government give me a bailout package if my small business fail?
http://www.freep.com/article/2009102...m-bailout-fund
Am I the only one who is getting sick of the administration giving away tax payer's money for big cooperation that do not plan to pay it back. Will the US government give me a bailout package if my small business fail?
http://www.freep.com/article/2009102...m-bailout-fund
11-04-09, 08:21 AM
#3
Lexus Champion
Wishful thinking.
Pathetic company that should have been allowed to fail last year. There is no way they are meeting any of the agreed terms of the original bailout. We aren't going to see any of this money back. They also now owe the German gov't $1.5B after backing out of the Opel/Magna deal.
Pathetic company that should have been allowed to fail last year. There is no way they are meeting any of the agreed terms of the original bailout. We aren't going to see any of this money back. They also now owe the German gov't $1.5B after backing out of the Opel/Magna deal.
11-04-09, 08:26 AM
#4
Lexus Test Driver
Thread Starter
The government should have just let these big cooperation fail. They are too big and too inefficient. When a big company like this fails, many more smaller ones will pop up and some will success. To keep a big comapny like GM alive with endless tax payer's money just doesnt make sense to me.
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11-04-09, 08:36 AM
#8
The Obama administration said last week that it is currently in talks to provide a third bailout package to GM, which might be as hight as 5.6 billion dollars.
Am I the only one who is getting sick of the administration giving away tax payer's money for big cooperation that do not plan to pay it back. Will the US government give me a bailout package if my small business fail?
http://www.freep.com/article/2009102...m-bailout-fund
Am I the only one who is getting sick of the administration giving away tax payer's money for big cooperation that do not plan to pay it back. Will the US government give me a bailout package if my small business fail?
http://www.freep.com/article/2009102...m-bailout-fund
11-04-09, 08:44 AM
#9
The government should have just let these big cooperation fail. They are too big and too inefficient. When a big company like this fails, many more smaller ones will pop up and some will success. To keep a big comapny like GM alive with endless tax payer's money just doesnt make sense to me.
11-04-09, 09:08 AM
#11
That is the truth right there. GM could have failed. They would liquidate all supplies, their factories would be bought up by other companies, and their suppliers would just shift product to other companies.
As for their Union workforce, with the bankruptcy of the company it would be nullified, and those people could perhaps either work for another manufacturer NOT under a union or sit on their asses at home getting nothing. There are plenty of people out there who would do their mindless repetitive job for half of what union workers were earning, just to make a buck and be happy with it.
As for their Union workforce, with the bankruptcy of the company it would be nullified, and those people could perhaps either work for another manufacturer NOT under a union or sit on their asses at home getting nothing. There are plenty of people out there who would do their mindless repetitive job for half of what union workers were earning, just to make a buck and be happy with it.
11-04-09, 09:25 AM
#13
Lexus Champion
It's sad when even car enthusiasts like ourselves think feel we should let a car company fail. I love this country, but sometimes I just can seem to understand how our politicians could give a rat's a** about public reaction. Obama may bet the unions votes, but he's going to have hell to pay in a few years when we're out billions of dollars and he wants to be re-elected.
11-04-09, 09:36 AM
#14
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The Obama administration said last week that it is currently in talks to provide a third bailout package to GM, which might be as hight as 5.6 billion dollars.
Am I the only one who is getting sick of the administration giving away tax payer's money for big cooperation that do not plan to pay it back. Will the US government give me a bailout package if my small business fail?
http://www.freep.com/article/2009102...m-bailout-fund
Am I the only one who is getting sick of the administration giving away tax payer's money for big cooperation that do not plan to pay it back. Will the US government give me a bailout package if my small business fail?
http://www.freep.com/article/2009102...m-bailout-fund
All this money could have been used to prop up small businesses who employ most people in the country. Last week CIT (the largest small business lender) declared bankruptcy and I assume this will result in even fewer loans to small businesses thereby resulting in more unemployment.
Taking a stake in these bailed-out companies is now coming back to bite us and I doubt we will ever see a return on our "investment".
