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lawandorder (Republican) - 12 months ago
Reply to Lighthouse
I expect to see a prepackaged bankruptcy occuring for GM, such that the restructuring of equity inte … Show full comment
I expect to see a prepackaged bankruptcy occuring for GM, such that the restructuring of equity inte … Show full comment
Yes, if the $15 billion is used to restructure, such that GM becomes efficient, good outcome. But the bank bailout money is not being used as the government intended (new loans), so I am not yet convinced that this bailout will produce the intended results.
And I agree that saving capitalism is more important that saving any one particular industry.
HUDDINI (Democratic) - 12 months ago
Reply to Karl MarxRwe
Good point, and with more socialism we could achieve your goals and objectives. Capitalism has shown … Show full comment
Good point, and with more socialism we could achieve your goals and objectives. Capitalism has shown … Show full comment
AMAN BIG KARL TALK TO THEM BIG KARL!!!!!THEY CAN GET BUT WE CAN'T GO GET THEM BIG KARL YEAH!! YEAH!! THE RICH GET RICHER AND THE POOR GET EVEV MORE POORER FILL ME TALK TO THEM BIG KARL WRONG IS WRONG AND RIGHT IS RIGHT AND THEY WRONG WITH TO LEFT SHOES!! IN GOD WE TRUST YEAH TELL THAT TO HER IS WHAT I SAY BIG KARL!! THEN YOU LOOK UP AND YOUR BOY WALKING AROUND HERE GETTING 50.000000 MILL. AND THEY JUST NOW CATCHING ON TELL THAT TO HER BIG KARL BUT WE CAN'T GET ZERO WOW!! WHAT ABOUT ALL THE TEA IN CHINA ON THAT ONE BIG KARL TALK TO THEM PLEASE FOR THE PEOPLE WILL YA!!!!!!! HUDDINI!!!!!!!!.......
Karl MarxRwe 12 months ago
Reply to HUDDINI
look the difference between a boy!! and a man!! is that a man got a plan and that boy don't!!! so co … Show full comment
look the difference between a boy!! and a man!! is that a man got a plan and that boy don't!!! so co … Show full comment
Good point, and with more socialism we could achieve your goals and objectives. Capitalism has shown like other economic systems to be a failure it was a matter of time. I like more Western European Models where the government has a larger stake and takes care of every one
Karl MarxRwe 12 months ago
Reply to Pierre Sarkozy
Yes... nothing can stimulate you anymore. Poor PW.
Yes... nothing can stimulate you anymore. Poor PW.
This is an interesting point can you provide any source material that this is where the money is going?
HUDDINI (Democratic) - 12 months ago
look the difference between a boy!! and a man!! is that a man got a plan and that boy don't!!! so come 1-20-09 its a plan that man want's done ASAP!!!!! and that mean you are going to have to kick to him one way or other period everybody is getting money but the people that MAKE THE COMPANY GO SO WHY NOT US THE PEOPLE???
Lighthouse 12 months ago
I expect to see a prepackaged bankruptcy occuring for GM, such that the restructuring of equity interests, the addition of new, market-based credit lines and new, more modest contracts for the unions, dealers and suppliers will all be unveiled at the same time.
There is no debtor-in-possession (DIP) financing available curently, due to uncertainty in the economy and the frozen credit markets. So the government is stepping in to provide the DIP financing over the next few months to March 31/09. And allow GM to restructure itself for the future.
I expect GM to enter bankruptcy at the same time as the new restructuring plan is announced, and they will exit the same day (or very shortly thereafter) The government may have a continuing credit facility, but doing so will add cost and burden to the company; in particular limitations on corporate actions such as dividends, executive compensation and the ability to make acquisitions. So all parties will try to avoid this.
I think that is why the amount of the financing provided by the government was limited to approx. $15 billion. These aren't the credit lines or facilities needed by the GM for the long-term; just the ones needed to help the company survive while it restructures.
Put that way, I am not so disappointed that the government stepped in to help temporarily; given the extraordinary nature of the credit markets.
But the government should not be part of any longer-term solution involving the company.
Capitalism needs to be saved and protected, and this is more important than saving any one particular industry.
lawandorder (Republican) - 12 months ago
Its both shocking and depressing to think any politician would push a stimulus package to support the 'house of cards'. Is no one willing to acknowledge that poor business decisions - in many sectors - led to this collapse? We would be fools to rescue those businesses, particularly if we do it by spending money we don't have. A wise friend of mine compared the bailouts to giving a heroin addict a little bit of the drug, to ease the pain of withdrawl. The harsh reality is that all we are doing with the bailouts is supporting destructive habits.
Patriot Watch (Independent) - 12 months ago
Some economists say Obama's new job goals may be rooted in salesmanship. It is virtually impossible to quantify jobs saved, so the figures have little meaning, they said. By raising the ante to 3 million, Obama may have something else in mind: Persuading the public that a stimulus costing hundreds of billions of dollars is necessary.
Peter Morici, an economist and business professor at the University of Maryland, said in an interview Saturday that Obama's revised job numbers are an exercise in political marketing.
"He's trying to make the case for a huge stimulus package," Morici said. "Every time you turn around, the numbers get bigger."
bco2rgr (Republican) - 12 months ago
Yes lets not learn from past lessons of failure by spending more money we don't have. Let's put the bill on the backs of our kids and grandchildren Mr. Obama because you won't have to worry about by that time cause you'll have either passed or most likely be on the doorstep not worrying about it.
Pierre Sarkozy (Green) - 12 months ago
Reply to Patriot Watch
all this money is going to the parties contributors. Look at the stimulas package. It is a pay you b … Show full comment
all this money is going to the parties contributors. Look at the stimulas package. It is a pay you b … Show full comment
Yes... nothing can stimulate you anymore. Poor PW.
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