Sparks Fly as Lansing Mayor and John Fund Argue Baiiouts!l

[pranays]

They paid the money Back

where's the money from wall street?

[mgezz3]

Did you notice as soon as he mentions "Wall Street" he gets cut off! No biased there! NOT

[simoom101]

If you're a Republican, get out of here. You care about yourselves and no one else. You want the hard worker's money to enrich yourselves.

[ThatsHowSimple]

He always blames wall street

[ThatsHowSimple]

He always blams wall street

[usrevolution2]

Yep. Michigan needs another Democrat Socialist to finish the job of collapsing our economy and driving our the productive from our state. Let's forget we are the Auto Industry epicenter and focus on those GREEN jobs! Team D is DONE! No to Socialists! No to more Damage, Destruction, Devistation, Depression, Depopulation, Disorganization, Disinformation, Dishonesty, Donkeys, and Democrats!

[mbutehorn]

This mayor is a nut job. I wish I lived in Lansing, just so I could vote for his opponent.

[MotorCityPlayer]

omg!! THIS MARTH WOMAN IS NUTS! Wall st is the BIGGESST problem in this entire country! Verg is NOT changing the subject. He is merely comparing Wallst's screwups that caused GM to fail. FOX loves to kick the working man...

[MotorCityPlayer]

Trillions for a war based on lies. Hundreds of billions into the hands of corrupt defense contractors, and building contractors, yet nothing for the working man. Did you forget that? WAKE UP AMERICA!

[mpc516]

This mayor is a moron.

[sep0507]

Using the airline industry as an example of bankrupt companies is disengenuous. The airlines are a service industry. If you can't get service from one, you get it from another. Not so with the auto industry. They make a product and rely on returning customers to sell that product. If they go bankrupt, they will lose those customers, possibly for good.. Bankruptcy is not the answer for GM, their dealer network, their customers, their suppliers, and everyone relies on them for their lifeblood.

[MooseOfReason]

Sassygrl345, companies should be allowed to go out of business if they can't sustain a profit.

Go tell a waitress who earns a couple dollars per hour in a diner, that the government is taking her money and giving to auto executives, because they couldn't run a successful company.

The mayor, Virg Bernero, is wrong. The FOX host told him GM burned through $13 billion, and Virg told her it was nothing. Excuse me? $13 billion is nothing? Apparently everyone in Detroit thinks like that.

[prrolg]

Anyone can tell that politician that an automobile is not a major investment 2nd only to your home. As soon as you drive it off the lot it loses value and everyday thereafter does the same. Your 401 k is a major investment. Let the govt refund everyones 401k and let the auto industry go bankrupt. You are right John

[MooseOfReason]

Bernero: "The difference between an airline industry bankruptcy and the automobile bankruptcy is that with the automobile, you are purchasing a product--it's a major investment, second only to your home."

If it's common for your major investments to depreciate in value over time, you're doing it wrong.

Also doing it wrong is Virg Bernero, comparing airline industry products to automobile industry products, rather than the respective bankruptcy.

Virg should keep his mouth like his mind: closed.

[MooseOfReason]

So his argument is, "It's okay to give us money, even though we'll waste it, because AIG got a lot of money."

Hmm, yeah. He should be a businessman. How soon would he ask for a bailout after his company starts failing?

[LiberalshateAmerica]

The Lansing Mayor is in the pocket of labor, see what happens when socialism takes hold? GM need to go to bankruptcy

[johnedwards1968]

It couldn't be that he's just looking out for his city, could it? What is wrong with you people? If GM goes bankrupt, it WILL be because of wall street. John Fund is just another moronic apologist!

[LiberalshateAmerica]

johnedwards- Sure he is looking out for his city but GM has been having problems for years because the gave huge contracts to the unions over the years. GMs products have not been what people want either and its mgmts fault also. How strong could they be if a 6 month decline in sales drove them into the ground? Not very

[johnedwards1968]

Ask Toyota or Honda! They're getting handouts from the Japanese government. Don't pretend that GM is the only auto manufacturer in the world with this problem.

There's 1 automobile maker in the whole world that hasn't asked for a handout from their government. Are you seriously telling me that Ford is the only company making cars that people want?

That's right, a UAW company, is the ONLY solvent auto manufacturer in the world. lol

That should really bring out the talking  points!

[LiberalshateAmerica]

johnedwards- How much of a handout is Toyota and Honda getting from their govt? Ford made the right call not to take the bailout money. Saying Ford in the "ONLY solvent auto manufacturer in the world" is a lie. Why do you have to lie? Fact is GM and Chrysler will be bankrupt soon.

[johnedwards1968]

Toyota requested the equivalent of $2 Billion US! The money's being requested to offer car loans in the US market. Nice fair trade arrangement there. Their own internal losses makes car loans impossible for the company itself.

The point you're missing is that Toyota and Honda are hurting because of the banks! Surprise, surprise!

I guess I should have said Ford is the only company NOT receiving government funds! I apologize for using "solvent". You can pick a better word if you like!

[johnedwards1968]

Toyota has 20 billion dollars in loans and bonds maturing this year, that they just can't pay off. That's why they're seeking government help. They are in VERY poor financial condition.

[vrj40]

Toyota and Honda have already been getting handouts from their government. Where have you been on this? Their government pays for healthcare so those costs do not have to be put on the back of businesses. Thus, Toyota and Honda do not have to pay for healthcare for their employees. That is a huge burden. I read estimates of $1,200 for US automakers per employee for healtcare costs.

[LiberalshateAmerica]

vrj40- I am not being a smart ass here but what Toyota or Honda take from their country is none of my business and I dont care. What I do care about is our govt. passing out money like it is candy to the banks and auto companies. You brought up health care so let me give you this example. I have one employee who makes $10.00 a hour for unskilled work. Under obamas plan I would need to pay health care costs and I cant afford it so either I have to reduce the guys pay or fire him.

[vrj40]

I am sympathetic to small businesses, I hope to own one myself oneday, but in case you have not noticed over the last several years under Bush, millions have already been laid off in the US. Some due to, no doubt, the high cost of healtcare for employers and outsourcing of our US jobs. You already had soup lines under Bush and massive foreclosures. Repealing of the safeguards (over the last 25 years) that FDR put in place, caused this economic collaspe.

[LiberalshateAmerica]

vrj- Health care costs didnt cause all the job losses what caused the mess we are in is The CRA program that was expanded under Clinton and Bush AND Barney Frank, Criss Dodd and Maxime Waters in the banking comittee AND Wall Street speculators whom Bush and OBAMA just bailed out. The housing bubble was caused by all these people EXCEPT for obama. obama will only be blamed for destroying our economy. Its not a left or right issue its all of the above on this one.

[vrj40]

As for your comment about Honda and Toyota, my response is relevant to your false charge that they do not receive any government assistance. They do as I stated. Now Toyota and Honda have seen massive decline in their sales and are being supported by their government similarly like our US auto industry is. relevant to the cost of manufacturing the car that the Japanese car companies do not have to contend with.

[vrj40]

If corporations are left virtually unregulated, most will do just about anything. And they have, unfortunately and that is the reason why the US economy has collasped. A lack of regulation and supply side economics have been disastrous for this nation.

[LiberalshateAmerica]

vrj- Supply side helped the economy. Those who make over $200,000 pay over 90% of all income taxes. Thats the highest 5% of earners.

[vrj40]

When you no longer have customers who can afford to buy your products or utilize your service because all of their US jobs have been outsourced overseas to China, India, Tiawan and the like, come back with your supply side endorsement then.

On the tax question, if you make more money, you should pay more in taxes.

[LiberalshateAmerica]

vrj40- I really appricate the civil comments between us, it has been refreshing. Supply side has nothing to do with losing jobs to China or India its about taxes. The ratios havent changed much between Reagan and Bush but with obama they are risings fast. Nobody has any figures but obamas plan is costing us more jobs already. I think obama is making a great argument for lower taxes for people who hire other people. By lower I mean back to the Bush numbers. cont...

[nfwvideo]

@LiberalshateAmerica how about we fix the trade deals we have they are the main reson jobs leave america

[LiberalshateAmerica]

vrj40- cont. You do know that someone who makes 100,000 a year pays something like 39% federal taxes plus SSI and Medicaid, State taxes right? Depending on what state you are in that comes to something like 65%. A person making 35,000 pays less than 10% federal. Did you know that there are millions of people that Bush took off the tax roles? He cut taxes for low income people more than any president in history but he has never gotten any credit for it. obama is raising taxes on the poor

[nfwvideo]

@LiberalshateAmerica THEY SHOULD PAY MORE!!!

[LiberalshateAmerica]

vrj part 2. Now there are millions of small businesses who will be faced with the same thing. 70% of ALL business in the US is 25 or less employees. If someone is making $1,600 a month and it costs $600 a month, well I think you get the idea. Mass layoffs, pay cuts just as inflation from all the printing of money obama is doing means bread and soup lines, homeless people by the thousands! This is insane!

[nfwvideo]

@LiberalshateAmerica this coming froma paerson that wants job loss? whats your problem/ you want a 3rd world economy like china? GO LIVE THERE THAN!!!!!!!

[nfwvideo]

@LiberalshateAmerica do u belive in any worker rights?

[jrc99us]

To the Lansing Mayor bankruptcy does not mean total shut down. The Mayor has bought into the myth that filing for bankruptcy is closing the business. It does, in a nutshell, allows the company to reorganize without worrying about their debt for a period of time. John Fund is absolutely right.

[arkivx1]

What a bunch a cry babies GM loses $1400 on every vehclie because of the union. I also love how he blames wall street because GM is full of idiots.

[TheRealDreadsen]

Well the entire base of his argument is not blaming it on wallstreet but questioning people principles. If you are against bailout as a principle then you should have used your power of the media to voice your opnion against principle equally when it arises not ONLY when it is the automobile industry and not wallstreet. Fox called him on another show on the same issue. You are either against it all the time or you are for it all the time. Treat them all equally.

[arkivx1]

Yeah, But see if you had ever watched Fox you would know most of the people on there have been saying bail-outs are bad the whole time, even when Bush was doing it.

[TheRealDreadsen]

Yes I watch fox. A whispering voice is not the same as a loud one. When John McCain and a LOT of the republicans voted for the first bailout the opposition was not parallel to what you see now. This is the 2nd time Fox has decided to go to this Mayor.

[arkivx1]

OK, Thank you for proving what a moron you are.

/ignore

[TheRealDreadsen]

No you are a moron and who ever else supports your method of discussion. I'm just trying to see things from another perspective and possibly TRY to get an understanding of where the Lansing mayor may be coming from. But i guess trying to see things from another point of view is seen as being moronic to you intellectuals here.

[arkivx1]

Right, You are just spouting off random bull crap no points, just making excuses for stupid politicians. Fox had people saying everyday bail-outs are bad all day(Niel Cavuto, Dave Ramsey, for a few) everyday since the bail-out trend hit the stupid poll-it-icians, and you call that a whisper, I think that qualifies you sir as a moron. Also I'm not an "intellectual" Just a person with an opinion and you don't have to like it.

[TheRealDreadsen]

Intellectual was me being sarcastic. I am against ALL BAILOUTS. Since you seem to make an attempt at ad hominem with me. Go read above you are arguing that Fox had people saying bailouts are bad. I did not say that they did not. You are creating a strawman and you are a nazi. Msnbc even had people all day long speaking against some liberal agendas that doesn't mean that they aren't going to scream LOUDER when it is a conservative agenda. You incapability to comprehend shows your intelligence.

[arkivx1]

Yeah, I'm a nazi and your a moron.

[TheRealDreadsen]

Correction. You are a nazi AND a moron.

[jrc99us]

Amen arkivx1! Amen!

[thatonedude675]

companies need to realise that bankruptcy is THE solution. bailouts are not the solution (no matter how many depression threats we get).