DISQUS

Vermont Trader · 1 year ago

There is real strategic value in having a world class car industry that is strong technologically and financially.

But the problem isn't the companies themselves, it is the capital structure of the companies and their heavy reliance on financial products.

If the companies are restructured through bankruptcy they will emerge stronger.

But the current shareholders will be wiped out and the debt holders will take massive losses.

This is a bailout of the share and debt holders, not the companies.

So we limp along with undercapitalized and stressed businesses while dolling out huge sums of money to keep them on life support.

jim mc garry · 1 year ago

fuck the gang of theives on wall st . let the economy go into the shitter. the haves will find out what it is like to be a have not!

Peggy McGilligan · 1 year ago

Did you know many of the fat cats who circulate from board to board and from job to job throughout the financial industry are also members of the Bilderberg Group and or the Trilateral Commission, founded respectively in 1954, and in 1973, in New York City? When someone takes your money and steals your car, it makes an impression. When they belong to such a shadowy political clique, it leaves an indelible impression. Many elected officials even belong to these cabals, hence the secrecy. When Bill Clinton eased banking restrictions, he dished out $8-billion dollars for “community reinvestment loans.”

When the financing schemes fell through, as is their wont whenever 30-million Mexican nationals buy inflated properties and default, it left banks in the lurch. Hillary Clinton counted on the Politically Correct loan giveaways to buy votes. Interestingly enough, had Hillary secured the nomination; she, instead of Barack Obama would preside over the bailout. So, where’s that $8-bilion plus dollars? Where’s Hillary? Why the caveat in Section 8 of the bailout: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency?”

The Global Initiative people (code speak for car thieves) took my money; they did in fact steal my car. If you or I did half the things these people have done, we’d be serving consecutive life sentences. Wise up, get angry, and let the bubble burst. Besides, a bailout guarantees nothing. We’re going to be just fine. You have my word on it. “You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.” –Andrew Jackson, to fraudulent financiers, 1832. Gentlemen, I want my money back: http://theseedsof9-11.com

Alexjr · 1 year ago

Hope we not fall to far

Johny · 1 year ago

I think we already did ...

Dream Cars · 1 year ago

This is a bailout of the share and debt holders, not the companies.

Tom Grey · 1 year ago

The shareholders+debt holders ARE the 'company', not the union workers, nor the factories; tho it's not so clear about pension debt and health expense debt.

DC should be debating the terms of a pre-packaged Chapter 11 post-bankruptcy plan to help create a viable car making industry. With good, 90% of average wages (instead of 200%). That's right, less than average wage.
Far fewer office workers (there will be plenty of not so old computers to replace them) and lower paid top execs -- all of whom share in profit sharing.

Flashing Novelties · 7 months ago

I guess that the problem of recession is really getting on the nerves of many people around and they would surely have a tough time getting themselves out of what I would like to call a self-imposed mess.

truck parts · 7 months ago

They still got the bailout they want. But all was for paying their dept last 2008. Definitely Obama needs to know the solution on how to solve this recession.