Would you bail out the auto industry?

[Mike C.]

I voted NO !!!!!

But then I wouldn't have bailed out the financial institutions or the people that bought houses they couldn't afford. I can't seem to find any of this in the Constitution. Alhough I understand now that it's considered a living document.....I'm sure our founding fathers would be really impressed with how bad we have screwed up our country.

[caseydog]

I voted NO !!!!!

But then I wouldn't have bailed out the financial institutions or the people that bought houses they couldn't afford. I can't seem to find any of this in the Constitution. Alhough I understand now that it's considered a living document.....I'm sure our founding fathers would be really impressed with how bad we have screwed up our country.

Just a quick point. The constitution guides our basic system of governing, and has a bill of rights designed to keep majority rule from overriding certain fundamental rights.

Our economic system is pretty much a separate animal.

Our governing system is a representative democracy, by design, and our economic system is basically Free-Market Capitalism, by choice.

But, since we are also a representative democracy, our government can interact with our economy. The constitution has no prohibition in that regard. The constitution doesn't clearly spell out our economic system as it does our system of governance.


As much as it pissed me off to see the banks bailed out after they gambled all those billions of dollars away, I still believe it had to be done. I just hope we learn something from it, since we didn't learn anything from the S&L bailout twenty years ago. Our banking system is too important to operate without strict rules and proper oversight.

As for the car companies, they are going to have to fundamentally change the way they do business. And, I just have serious doubts that the guys running the Big 3 are serious about changing the way they do business.

CD

[asianflava]

Here's an SNL clip that pokes fun at the situation.

http://videocafe.crooksandliars.com/hea ... ut-hearing

[caseydog]

Well, we're bailing out another huge bank. Citigroup is the latest dominos to fall, thanks to bad decisions made by them. In 2007, Charles O. Prince raked in $15,105,376 in total compensation according to the SEC.

Hey, I will run ANY corporation into the ground for a mere 2-million dollars. They should have hired me to be CEO. They would have gotten the same results, for a lot less money.

[caseydog]

Here's an SNL clip that pokes fun at the situation.

http://videocafe.crooksandliars.com/hea ... ut-hearing

That was funny, but the audience didn't get a few of the jokes.

I thought they were unfair about the breakdown factor. Detroit isn't building crappy cars -- their cars are just not appealing to enough buyers. Trucks and SUVs were all they had that people were excited about.

CD

[Kelly Coker]

You needed to add an "OH, Hell NO " selection on the poll.

[Elumia]

Three auto makers are made to come to DC to grovel for a 25 Billion bridge loan and get carped on for taking private jets. Yet on a Sunday, we hear that Citi Bank gets 20 Billion. WTF?

Mark

[Miriam C.]

Three auto makers are made to come to DC to grovel for a 25 Billion bridge loan and get carped on for taking private jets. Yet on a Sunday, we hear that Citi Bank gets 20 Billion. WTF?

Mark

And I hear that UAW parked employees are getting unemployment for 2 years before the company picks up the whole tab..........WTF.

The totally ripping off of the American taxpayer. Just think---they could have gotten your social security along with your 401 and other savings. Wonder if wonderboy will reinvigorate the economy with your social security. We can all put our "donation" in the market and they can gamble and steal that too.

[satch]

It's becoming numbing,I just enjoy watching my retirement, and possibly my kids future getting flushed down the toilet

[caseydog]

Three auto makers are made to come to DC to grovel for a 25 Billion bridge loan and get carped on for taking private jets. Yet on a Sunday, we hear that Citi Bank gets 20 Billion. WTF?

Mark

CitiBank holds the mortgage on my house. If we bail them out, I think I should have my mortgage bailed out, too.

[Ron Dickey]

I answered not but wait there should be a "depends on see below " section.

If I saw a group of guys come to see me and they each flew in on private jets and asked for money ..... well they are asking to be turned away.

I am not Union but I am for Unions. This is about jobs but until they come with a plan and a sure the country that it will not be spent on the Golf course does that just ran out. Until they offer me a reason to stop driving all my Toyota's and build a unit that is not only good on gas but will not fall apart before the first year is up. The Tax payers are not winning on this deal and the Union workers have little say in what the company is building.

Mike lost his job do to cut backs on the first round. I am sure he designed a good product. but it did not deal with quality or he would still be there.

Saying No is a catch 22 and saying yes is keep the basterds at the top rich.
the ones who bought Chrysler bought Mervyn's and drove them out of business for profit. They did not car about me and I worked for Mervyn's for 23 years they told me I had to pay totally for my insurance they could not afford it then they bought Chrysler .... so who is lieing here??
Those bosses do not care about the workers only how much richer they can be ..... like us they should work for their money and prove they care about not only the worker but the buyer and saving energy or $4 will be 5 then 6 then we pull our TTTs with horses. whow Ron settle down.... relax
It will all be ok but but ... they....but
maybe Dean is right I should leave the Gun Port on
hey I could have new doors and Steve B said he would help me hmmm new doors with Grants windows....
Oh ya what was I talking about
Ron D.

[satch]

I'm with ya Ron, I work for a gov. agency,and I'm a union member, since the gov is bailing out everyone and their mother, we get screwed.We get our finance thru HUD, so they cut our budget down to the bone, so they can bail out these crooks and now my job is up in the air. Are they gonna bail me out? Calif. unemployment insurance is almost bankrupt. What piss's me of the most is, I NEVER took out risky loans, I pay my mortgage, have no credit card dept, and always lived with in my means. Now I feel like I'm going to pay for everyone elses screw ups.
Sorry for the rant, but it hits a nerve to see people that play by the rules get in the a$$

[caseydog]

Ron, I too have a problem with Chrysler coming to the taxpayer for money. Cerberus bought them and took them private, expecting to make money. That was, what, a year or two ago? Are we supposed to guarantee these rich investors a profitable deal?

They did due diligence, so surely they should have known what they were buying. And Nardeli is the guy that got fired for nearly wrecking Home Depot, and he is who Cerberus picked to fix Chrysler.

The poor get welfare (which I understand), and the rich get welfare (which is insane), and we in the middle class pay for both.

I do want to save the good manufacturing jobs, but I don't want to help the uber-wealthy get wealthier.

CD

[satch]

The poor get welfare (which I understand), and the rich get welfare (which is insane), and we in the middle class pay for both.

So true

[Miriam C.]

And to thank us for donating our money to all the companies who have truly rich leaders---raise our gas taxes Wow, I just can't wait.