The 'Big Three' testify on Capitol Hill

[sha370z]

when you go to buy a car they play around with the price

[pheromoneaction]

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[TheHcgdietplan]

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[evildego]

Assholes using our tax dollars to bail them out. I want a free fucking Camaro!

[iceman5815]

I will never buy from the big three. What a shame?? Why would anyone buy from these jokers when we have to bail them out? Have u ever got a discount from Ford, gm, or chrysler because u told them that u can't afford the asking price of their vehicles? No..they won't even look at u if u told them that. So why should we bail them out? What have they done for us? This is a private business..either u survive or u don't. No fucking handouts for these idiots. Private jets..wtf>>

[emforty2]

so they are blackmailing us to give them money they did they spent it and its gone and now asking for more

in the meantime they laid off workers and cut production so whats new

[hallangell12]

wach if thery have to pee?

[invicta62]

I want to puke when I see Dodd, Reid and Barney Frank trying to make a decision on this issue..... I have a plan: DON'T GIVE THE BAILOUT MONEY, BUT YOU MUST STOP JAPAN, GERMANY & KOREA FROM SELLING THEIR CARS HERE. I think this will solve the BIG problem this country is facing. It will also stop the selfish American people.

[eatmeskivys]

really??? why should the American people be stuck buying crap???.

[hto1971]

i thank it is crap if a working man gets behind they have to feg out there own stufe out maby there on thang they can do like are schools are doing come togather as one and maby if they made all the parts at home they would not have this prob like dont have japan build parts for usa cars

[pavlo79]

I guess most of you tubers beleive a bailout is a hand out but the auto maker will pay 5% for the first five years 9% for the rest ....If I had the money I would lend it to them at such usury rates why not?

[freesk8]

Then do so.

But the market has "said" that the interest rate was too low to compensate for the high risk indicated by the balance sheets of the auto corps. This is why it is a taxpayer subsidy. We would be giving the auto industry below-market interest rates.

It is like buying a junk bond with a non-junk interest rate. It is a bad deal for the bond purchaser, and that is the taxpayer.

Just let them go through the bankruptcy process. Most of the jobs will come out the other side.

[freesk8]

No Bailouts.

None.

Let the free market work.

Taxpayers should not bail out for-profit corporations.

Just let them go bankrupt.

Bailouts make recessions last longer.

The taxation they require destroys more jobs than could be saved at the troubled companies.

[ersatzian]

clearly, you do not work in an automobile factory, and the 500,000-plus people working for the Detroit Big Three, who incidentally do mostly pay taxes too, can just pretty much go to hell. and how, please, can higher income taxes destroy jobs (do explain...i happen to be a little slow sometimes, but i'd love to hear this one)?

[shelbymainzer]

Free market is what fucked us in the first place!

[freesk8]

That is a common misperception.

Extending home loans to people who could not make the payments is one cause. This problem had two sources: 1) Fannie Mae and Freddie Mac, both government-chartered corporations, were told by congress to make bad loans in order to help minorities buy homes at taxpayer expense. 2) The government set low reserve requirements for banks, and then implied that the govt would bail them out if they went bad. So the banks made risky loans knowing they'd get a bailout.

[eatmeskivys]

really?? ok lets scratch NAFTA...then you will see who will get screwed!! You don't want Canada's oil?? China will buy it then.Let Obama think of that one.One thing you have to remember...There are other more demanding markets now than ever other than the US.

[bluemini9]

This is funny!!

"Did you fly commercial?... No, Will you sell your jet and fly back commercial?... No"

I heard somewhere that there will be a second hearing.

Is is true they will actually fly commercial?

[lostinseganet]

Where can I see the whole hearing?

[YesMrRight]

1) Who is more important?

President of USA or CEO of Ford (or CEO of any public listed companies).

2) How much President of USA is paid?

3) How much CEO of Ford & other CEOs of public listed companies are paid?

4) Where is the logic? To run a country like USA is paid so little, and CEOs are paid so high?

5) Are the CEOs misuse of public fund by getting millions of dollars?

6) If the company is losing money, that means the CEO is not capable or incompetent. So why pay them so much? Shame.

[weelittlewillie]

really great video ...would love to see more

[YesMrRight]

I'm ashamed by the big 3 auto beggers.

These big-3-auto-beggers are holding CEO posts, and are getting millions of dollars as salaries & other benefits.

The reason auto companies to employ them is to "make millions of dollars for the companies".

If they can't make money for the compaies,why should they get paid?

Since they are non-productive, kick them out of the companies.

Why pay to kick these beggers out? sick of this.

Shame on these auto-big-3-CEOs, they are just bigger-beggers. Shame

[HammockTimeNow]

You don't have a dog in this fight (unless its the one you are planning to eat) You don't vote here, pay taxes here, or work here...stfu

[freesk8]

Free country, still. Anyone can comment on anything, whether he has a dog in the fight or not.

I'd say those of you who don't believe in free speech, the 1st amendment or who can not defend your bad position so that you have to resort to saying "stfu" should stfu.

Why not just respond to his argument about CEO pay?

[mack70214]

Honda, Toyota, And Nissan, the new and sucessful big 3 that is the future of America

due to QUALITY. Ford, GM, and Chrysler, the failing big 3 that cost the American people the

American Dream due to GREED. the nerve of these

guys asking for so much money.

[krysteenoc]

Do you really think that Honda, Toyota and Nissan will retool their plants to support this country if we get in a war? Do you realize what the big 3 did for this country in WW2? We are at risk not only economically but in the protection of our borders! It is insane to think that Honda, Toyota and Nissan would pick up the slack there. We have to stop and think about the effect of this on us as AMERICAN citizens. This is going to have an effect that is more far-reaching than people realize.

[voyeurdug]

Whatever they (Congress) comes up with, it's got to be on the basis of a businesslike investment rather than a forgivable loan to the prodigal son.

Taxpayers will object strongly to the latter, but will be glad to support the former in the form of matching some percentage of co-investment by, say union pension funds, oil company profits, and pension funds, government pension funds (TSP), and the like.

[Chslosers]

Let the record show, no hands were raised. Fuck these guys, they even said they would not lower their CEO pay which is currently 10 million.

[bendutta2008]

Ive never understood that when times get tough, you have to kick workers out of a job. All these years of building bigger rather than cleaner have come back to haunt us.

Shame!

[theancientenemy]

The biggest irony is that these automakers have had lobbyists in Washington making sure that they didn't have to spend money making their machines more efficient or environmentally friendly. They deliberately held themselves back and made sure they didn't have to change and now they are asking the same government for help after fighting to get their way for so many decades.

Enough is enough. Let them fail.

[Chslosers]

Not to bring bi-partisan into this but most of the automakers political friends are democrats, im sorry but its true.

[dgeevers]

This is ridiculous! Why should the AMERICAN people have to bail out these companies? Do you see the top execs of Nissan, Honda or Toyota asking for $25 billion??? Obviously they know how to run a corporation and how to make a good vehicle. I would NEVER own a GM, Ford or Chrysler product. My company car is a Chrysler product and it is the biggest piece of crap I have ever driven. I am saddened that such poor management has led to this! I just feel bad for the employees. They don't deserve this!

[PeruDallas74]

These guys were arrogant as hell for years selling enormous fuel inefficient cars whithout caring about the enviroment or the consumer....they can go to hell. have them sell some of those private jets they have...they are least worth 10 million each.

[kipptumor]

If you open a lemonade stand and start pouring piss into glasses and charging $5.00 a pop for it, how am I responsible for helping the lemonade stand stay in business?

[totaljett]

Ford needs to bail me out for all the repairs I have done on my Lincoln Ls!

[98GSM90]

Honestly man, that's what you get for buying a Ford product.

[totaljett]

Yep, you got me there.  :(