Michigan Mayor: No Auto Bailout Will Mean Depression

That was the warning from the mayor of Lansing, Mich., on CBS's "The Early Show" Dec. 2. "You know this is a sure prescription to go from recession to depression if you allow this auto industry, our manufacturing prowess, to fall by the wayside," Virg Bernero warned

Category:

News & Politics

Tags:

• Bailout
• Auto
• industry
• GM
• Chrysler
• Lansing
• Michigan
• CBS
• The
• Early
• Show
• Depression
• GReat
• Recession

[mljubilee]

The democrats cry we need regulation, but the regulated companies (AIG,BEAR STEARNS, BANKS, INS) are the ones who collapsed from corruption!

[bam6956]

actually the fed reserve which is private created this crisis.look at what the gov did they gave billions of money to banks and insurance companies what conditions none did they use it to lend no they used it to party and to buy up smaller banks who did not make stupid loans but somehow the autobailout is worse comeon notice how all obamas top ppl are wallstreet hacks how about no bailout for wallstreet theft

[bam6956]

what a joke they are in trouble bc they are not selling cars actually the difference is that gm has 4-1 supervisors as toyota the white collar makes up 20%of the cost of the vehicle blue collar 7% but it is retirement and health care that cost so much 94 they made 4 mill cars today they make about 4 mill cars with half the workforce the probl;em is that most other manufacturing is in china

[mljubilee]

(cholber1) The UAW have lobbyed congress for power over the automakers for decades. The UAW buys votes from democrats in congress, now they have pushed the auto makers into so much debt that they need a loan. Why not just build good cars and sell them? Because they can't compete because of the UAW demands. Unions are socialist, just ask Russia... it don't work. Detroit is history and I am one American who is very glad!

[cholber1]

your a retard how is that socialist you better go and get your self a little more educated. You dont know what you are talking about. Wall street is the ones that brought the auto industry to its knees not the UAW

[mljubilee]

Go sell your socialist crap somewhere else! UAW has peddled their brand of welfare for far too long...Take a pay cut or give up your job!

[abbev10]

Hey, Virg. Thank you and your unions for pushing the big 3 in the ground. We are enjoying building foreign cars that are actually in demand here in the NONUNIONED SOUTH!!

[Chrisrokk239]

This bailout will save jobs for average Americans. The $34 billion will be paid back. The bank bailout is just a way for excessively wealthy people to line their pockets on our dime. If want to bitch and moan, go after the banks.

[leardrum]

MAN this guy reeks of the fantastically popular stench of corrupt politics! Anyone doubt that he is puppeted from the back pocket of the UAW? Hey Bernero just how far do you think us tax payers are going to be pushed before we're fed up your crafty brand of BS! Screw you and the US auto makers who fed us expensive crap cars for decades and now expect us to mop it clean for you. Why should we believe you won't pull the same crap post bailout? Oh and screw you for letting Japan become number one!

[2alycia3]

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