Bush Announces Automaker Bailout

[MrGreeneg]

Making a speech does not constitute bailing anybody out.

Congress WAS NOT EVEN IN SESSION on this date; the last Congress

WAS GONE and the new one had not been sworn in yet!

He was bloviating.

He knew perfectly well that HE could NOT take ANY action to accomplish this!

THAT would HAVE to wait until AFTER the people who WON the elections

in November got sworn in in January!

[cazyblood3]

5 stars

[ponic420h]

uhm, free market? wait the dushe bags that made the mess get bailed out at our expense? what happened to the invisible hand?

[pfriverrat]

ok, japan autos are marking a loss now too, so bad quality is out the door. I agree with the auto bailout(some one ask Pelosi how her private jet is working out). Reason why this is great, this does not help only the rich, but the men and women that work in the factorys, the local dealerships(big tax money from them), company workers that supply parts, people that repair our cars, and this list could go on for ever. And when you say thier fault, find me a maker of a 3/4 ton truck for work.

[d5486]

bad quality

no customers

price gauging

rich executives

and we hand out OUR money?

poor is funding the rich AGAIN!?

wow.

free markets and capitalism ..yeah right..

socialism for the rich...

capitalism for the poor.

[LITTLEDRUMMERBOY30]

In a nutshell, since we don't buy a shitty car, they will take our money anyway.  Buy an American car buy a Honda!

[KyndestKid]

This was the one day that I almost put GW Bush sticker on my car!!! Thanks for finally doing the right thing GW!!!!!!

[FanFisique]

WTC Witnesses SAW ON 911...

watch?v=3Fmnfdn_ukY

watch?v=iqrdX0rX64U

watch?v=aHVg9P73lQ0

Yep...we all saw Planes there on TV...But maybe is just a Coincidence, but Live Witnesses saw preciselly MISSLES!!!

Look at it by yourself:

watch?v=eQVTO96hmEM

Same shot-diff orb= Media censorship.

Liberals begging 4 money to a state...WOW

[SkynetAlex]

Thank YUO Bush

[rOckOwnz]

bush is the greatest president ever!

[richie19190]

Sorry, but Barack Obama has gotten more done globally and domestically in 80 days than what Bush and Cheney did in 8 years. If you think that he is the greatest president ever because all he did was fight a war in Iraq for 8 years is productive, then I think that you are very much mistaken.

[rabidbeavir]

We fucking fail.

[bigge525]

America at its finest. The top 300 CEO's

split 2 Billion in bonuses in 2007 and we

give them 150 Billion more without a question.

But the UAW is the problem!!!!!!!

Anyone that even jokes that unions are the

problem has their HEAD UP THEIR ASS.

[nordrassil1]

Oh, I saw that! It was extremely upsetting how they chose to use that money. MORE into their salaries for 'extra motivation' to do their work? Come on!

[Richardgwm]

George Bush is a war criminal. George Bush ordered the torture of prisoners of war. Torture is a war crime. George Bush must be tried and executed.

[turoiniat123]

you suck

[CountArtha]

Holy cow...what did he say at 6:30? That sounds like code for "raise wages."

[Niem254]

6:40 "if a company fails to come up with a vaible plan by march 31st it must pay off it's loans"

so all bush is doing is pushing this problem off on the next president again cuz he doesn't want ANOTHER disaster to affect his already broken legacy

[CountArtha]

Congress voted for it, dude.  He just signed it into law. Stop pretending Bush is Tsar.

[Gamingtrevor]

BUSH: WE ARE NOT ANGRY WE'RE HAVING TO BAIL OUT THESE AUTO-MAKING CEO-FUCKS! WE'RE MAD THEY ARE COMING TO US, AGAIN, DURING AN ECONOMIC DOWNTURN, AND THEY DON'T HAVE ONE FREAKIN' CLUE HOW TO PAY US BACK, AND WANT ALL INDICATIONS OF REPAYMENT TO BE KNOCKED OUT OF THE FINAL AGREEMENT!!!

God DAMN, I hate this freakin' government at times... It's like AIG all over again.  How long before they give themselves a week long getaway at a luxury resort?...

[BelligerentAuthority]

Next natural disaster!

[Beamshipcaptain]

Bush should have the oil companies loan som of those outrageous profits they mad last year and this year to the carmakers. But that would reward the American Automakers for making and selling shitty cars that rust, fail and fall-apart more rapidly thatn Japanese or German-cars. And have lousey fuel economy. While TOYOTA does great selling hybrids, and GM confiscates and crushes plug-in electric cars that were BELOVED by the lesees, and were the most reliable car (EV-1) ever made.

[danieldrownr]

Oil company stock is down over 50%- One of the reasons everyone's 401k has tanked.

[yanikv]

The Republic is being held hostage by special interests.

[ATRUEAMERICAN10000]

Instead of a bailout, we should offer to sell Michigan to Canada ... $1.

[BelligerentAuthority]

Or offer to let everybody hit bush with a sock full of woodscrews....$1

[Mychaels]

Ya!!! Now that bushs friends have more billions. Where the hell will the people get the money to buy their cars???

[Defucijus]

My busines going to shutdown if i wont get 50.000$. Please bail-me-out. I have small business, making CD cases

[triumphelf]

WOW!! Alot of the Top Dude's can Retire Quicker and Richer!!!

[killergames187]

No your right the FED has got it's hands all over this.Don't think Obama is going to be better his is tied to the same people that Bush it like CFR!

[krusha666]

why didn't the banks that just got 800 billion dollars in loans, loan the 30 billion to the auto companies?!?

this is economic terrorism and bush is the terrorist

they are trying to privatize the auto industry

"these are not ordinary circumstances"

fucking loser, using fear to control us

wake up people this is a war

Rich VS Poor!!!!!! and unless you're making over 10 million a year, guess whose side you're on

[njcarlos1]

Obama would have done the same thing, stop being ignorant. All our leaders are becoming communist scum, and we'll be paying the price while they live off the backs of Americans.

[classicrockforever5]

If those automakers collapse this economy will plunge into a massive depression

[Donninator1]

if they get bailed out the economy will plunge into a massive depression the next month..

don't be an idiot.. THE GOVERNMENT DOESN"T HAVE MONEY!!!! idiots.

[classicrockforever5]

The government has no choice. At this point a few billion in debt won't hurt anything. So much of the economy is tied in to the success of the automakers we can not allow them to fail. Are we doing it right? Not really. The UAW needs to be forced to make serious concessions or it will just suck the 17 billion out of the companies. The companies need to have a more rigid definition of a viable enterprise and their needs to be a guarantee that they will suffer should theyfail.Theyneedmoney

[wojiwodj]

bush seems to be quite articulate about the seeming economic basis of orderly oil driven

economic interest

[jaim12005]

interesting isn't it. he can put on his G Dumb mask whenever it is convenient.

:Iwishsomeonewouldputhimjailno­wface:

[melloprod]

just buy used! finance companies are fucking us with these high interest rates. bailouts aint gonna help until they lower credit standards!

[depletable]

All Bush has been is the fucking messenger of bad news.

[pgthinker007]

What's bad about that? Be thankful he gave chances to Detroit CEOs.

[ozne64]

Goodbye blue sky!

watch?v=m08n6yVFmX0

[hellshade2]

giving the auto industry is not going to help them unless they start marketing a better product. i'm an auto mech for the past 27 years and still can't believe the garbage the big three have been pushing on consumers for the past 10-15 years.the cars are made to save the company money on manufacturring but adds that cost to the buyer who has to spend more to fix things when they fail. or spend extra money to make a car alignable (gm)

[pa6xylly]

well said, and i must say i agree.

gm and chrysler have consistently dominated the Consumer Reports least reliable car list for as long as I can remember.

toyota makes the camry...while gm makes the cadillac eldorado (a car whose bumper falls off every 3,000 miles). it has taken a while, but people are finally getting tired of having to fix things when their buick's and pontiac's fail.

[ROBERTwebbb]

GM fuckt us here in flint and all over michigan ......... BUY TOYOTA.. it's american and it is built in alabama U.S.A

GM is made in russia india mexico and fucking china

WAKE UP AMERICA

[ROBERTwebbb]

fuck GM buy a toyota 4 life

[FoShizzle951]

"Mission Accomplished."

[ThinkingLeft]

"the fundamentals of our economy are strong" lol

[kaiser17a]

On the one hand I can understand all of the jobs that will be lost and thus all of the tumbling mortgages that will follow from these workers. However, simply bowing down and throwing money at something that wasn't built economically sound can only further the problems we feel. Executives of these companies are not taking responsibility for their actions and are acting like some of the laziest people in this country: seeking nothing more than a handout from the Government.

[killergames187]

Bush will not be happy jest fucking up the last 8 year's he is fucking up the next 8 year's!If he stayed out of this in the first place we as tax payers might jest get to keep some of the money we work for!!!Fuck BUSH!!!

[PersonalJesus348]

bush isn't doing it alone

[AvoidHell]

I can't understand this guy he is just printing fake money and throwing it at companies, that will make Americans poorer won't it ?

[mazapineda]

great! now those companies can do what they do best. MAKE SHITTY EXPENSIVE VEHICHLES THAT NOBODY WANTS TO BUY!!!

[GodKillerAtheist]

Where is my Bail out?

[nasanction]

Oh look! Alice in wonderland on the shelf!

[imrambo314]

Bush is trying to do his last minute fuckups before he is out of office.

[jaim12005]

if they do not come up with a viable plan by March 31st..what?

They will repay the loans to us tax payers How?

[mrbadguysan]

Wow, President Failure did the right thing...

Legacy +5!

[azas1949]

how is this going to work if everyone is being laid off of work - unemployment at all time high and it will probably increase.

also, the banks are not lending.

One thing that has not been mentioned - cost of living is much lower in the south than it is in the North - and you want Detroit autoworkers to lower their pay to the same level as those in the south?

What about the execs and their multimillion $ salaries and bonuses ? Is the $ 1 per yr still on the table ?

[jaim12005]

Not only is it not gonna work..now the banks want a credit rating of 750 to get a loan to buy a new or used car.

WTF? If they auto company are getting loans. Banks are getting loans..=yet we don;t get any??? how is that going to help the auto industry? People laidoff, no money, no loans for poeple who do want to buy a car not a winning combo

I would like to know the answer to that too.

What about the execs and their multimillion $ salaries and bonuses ? Is the $ 1 per yr still on the table ?

[qwertyman233]

so whats the other option?

[keithwhitmer]

3.5 minutes before he even comes close to mentioning loss of jobs and harm to American workers.

[CliveSinclairZX]

*poof*

MONEY!

Wow!

Money out of thin air! Man this will help inflation!!!!! Awesome!!

[Toorak1964]

Bailouts are bad, bad, bad.....better for money going into social welfare - let the companies fall....then help those that need help...out of the mess, the people with integrity, honesty and passion for their country will rise. I say, let those that were greedy fall.

[ProHealthQuotes]

Union Fault...... I Agree!!!!!

[CliveSinclairZX]

Agreed.

[mark99501]

Its the unions fault,how dare the unions demand a decent living wage,healthcare and a pention,HOW DARE THEY.They really need to work for those southern foreign car makers you know those slave shops.

[xCrazyJayx]

you're being sarcastic, right?

[HaloedG]

These guys offered to payoff Bush after he gets outta office probably.

Let em go bankrupt.

[avajess303]

fuck this. he has made america the laughing stock of the world. again. damn it damn it damn it...grrrr

[WKaliber1]

hahah silly Americans

I thank GOD every day I dont have to live in your shit country and with your shit president as my "leader"

[xact1212]

Wait till Obama it'll get worse

[HaloedG]

And how would you know?

[xact1212]

Everything Obama promised has been changed or altered since the election look up the facts.

[HaloedG]

Lies. The guy has't gotten into the Presidential Office yet. You're blaming him for things he hasn't even done yet. Sounds like overbearing insecurity by you..

[WKaliber1]

After picking Clinton to be a secretary of state I may well believe it. What a populist pick.

[daderone]

where do you live russia?

[WKaliber1]

no, France

[Khamila1]

/sarcasm on

... yay~

/sarcasm off

[terrence0258]

I hope conservatives will be up in arms about all of this sssoocciallliissmmmmmm. If Obama gives tax cuts to poor people its socialism, if Bush gives corporate welfare and nationalizes the banking industry he is just saving the markets.

[musicmsnger]

No doubt...

[123Ahad]

I wish some one would throw another shoe

[throttlehead12]

would just like to take this opportunity to point out how much better of a speaker Obama is compared to Bush.

actually im not even sure you can compare the two

[toiluopbruce]

This is just a delay of the chapter 11 everyone wants and the industry needs. They're not ready for bankruptcy now as there is no solid plan in place and total failure of the North American automotive manufacturing plants is not acceptable now. I agree a restructuring is necessary and that chapter 11 is the answer, but I believe we will all be better off letting Obama's administration lead the way. This is costing 17 billion now and if Bush was to take this issue all the way to the goal line?

[FullOfFail]

Is there anyway we can speed up the inauguration date to say.. tomorrow? I'm afraid of what last minute under-the-table business deals Bush is making.

[pelagic6]

This is a waste of money. This is just one more example of the government NOT listening to the people, democracy my ass. A higher percentage of people do not want this but the big machine says screw the public voice, we know what is best. It is because of the government that we are here, how in the hell does anyone think the government will help?

[ToneJermain]

is this happening today? dec 19

[Troublesome2008]

When will an American trow his shoes?

[srhabb]

Their money is in your back pocket.

[pakratmak]

On a positive note, it's being taken out of the TARP fund.

Question of the hour-how can they be taking it from the TARP fund? Is it just lying around or what?

[eliotschreiner]

I think allowing the bailout will create a small incline in the economy, but will have a high probability of dropping off if the companies can't get their shit together. However, not giving them a bailout will inevitably cause a drop in employment, but perhaps allow for smaller car companies, who are developing the "green" types of cars, to strive.

[Envir89]

What smaller companies?

[matman125]

uh oh

[stoney490]

we shoulda let 'em crash and burn...

[TokenTombstone]

One day George Bush will be dead.

[zentaaki]

:-)

[dralavant]

Those Auto makers are only gonna use that money to get rid of the Union. Well I hope that's not the case, I hope they use that money wisely... Highly doubtful though.

[hipmama715]

The American auto industry should focus on green cars and make them affordable. No more gas guzzlers! If they would use this money to make this change, then they would be able to pull through this. I doubt they would do it, though. They're still going to fail, because their products suck and they don't care.

[Xophod]

its true they should. NO MORE SUVS. The gas guzzlers we build here in Canada and in the US are shit cars anyway. Ugly and inefficeint.

[djancak]

my sentiments exactly

[Xophod]

"under ordinary economic circumstances i would say this is the price failed companies must pay and i would not favour interviening.." - But I'm outta here in a few weeks so fuck it, I haven't got anything else right so as my last parting mistake allow me to give away your tax dollars to bunch of greedy near sighted business men who won't look to the future and please accept it as my parting one finger salute to all the people of the United States of Merica. :)

[CynicalSavior]

wait wait wait....

Did Bush just admit that there are times where the "free market" doesn't work?

Isn't that high treason for a Republican to say? Or as long as when you say it, you write out a check for a few million bucks to a millionaire, then you're ok?

Fucking hypocrites.

[morten90]

woho. free market is doomed to fail sometime

[AnnaSmee]

*sigh* We need the bailout.

[lance24a]

Isn't it unconstitution for President Bush to pump money into something under his power?

Congress has not approved of such a bill; and president Bush is claiming under executive power he has the power to pump money into something!

What kind of B.S. that. There really is no seperation of power in the Gov't today!

[hipmama715]

That's what I was wondering. He seems to be stepping out of bounds more and more as his term draws to its painful end. He and his cronies are going to bankrupt this country.

[BlastTyrano]

q gay es el q no le atino

[spock8585]

Notice Bush and republicans had no problem bailing out their rich wall street friends. We spent over a trillion dollars in Iraq rebuilding a country for free. It is only when they spend money to help american workers keep jobs , do they have problems.

[KataVideo]

someone had to do something.. but given that it's bush, President-elect Obama ought to look for little poison pills hidden in the deal.