No more bailouts - Automakers FAIL - Peter Shiff

No More Bailouts - Let The American Auto Makers Fail - Failed Management.
AIG again and again - where does it end.

Category:

News & Politics

Tags:

• GM
• Ford
• Detroit
• Automakers

[NorthernEmperor]

Average compensation per hour of work for worker of the Big 3: $73

Average compensation per hour of work for other Americans: $28

This is a serious issue. However, Nancy Pelosi did not mention it at all when speaking about this new bailout idea. If this bailout became reality, this problem would not be taken care of, and we would simply be paying to keep the the salaries and benefits of the Big 3's workers sky high. Let these three corrupt companies fail.

[nathands]

If they fail, I'm sure some clever entrepeneur will be created out of the embers and dust up GM's crash. Either that or a synergistic group of individuals who will organize a new Automaking solution. This new company can start making cars at a quality, price and efficiency that Americans can be proud of once again. A new beginning could create this, a government subsidy could only perpetuate the old hunk of junk that it is.

[aviomaster]

It is not workers fault , GM went under ,  IT is scum bag goverment pushing the CAR companies to make GAS GUZZLERS ,,,

When GASOLINE hit 4.50 for gallon that is when people stopped buying these cars. SMaller GM gasoline guzzler is 25 MPG ... while Japanese and europpans go over 30 MPG ...

[420991]

why cant i see the video

want to chat with singles 4J

[dave777blaster]

Schiff was the only one with any good sense

The others have no clue to reality.

Detroit Auto owes too much money are way over paid and this is what has made Gm and Ford who sold the most cars the last 40 years have no profit to show for their efforts.

In fact GM and Ford went into debt selling the most cars the last 40 years.

bailouts will not help them

Sometime in the next 3 years all 3 of them are going under .How much of tax payers money is going to crash and burn with them.

[le238man]

they continued to make undependable,expensive crap and act like we as Americans are obligated to buy their crap. Thank the unions for their failure.

[shakaama]

I've been looking up bush lately after all this election has blown over. he is literally the worse president ever. forget nixon. forget taft or whomever. bush has closed down foreign policy, nearly eradicated the american good name. internally he has all but ignored many issues and has not lead the republican congress and even less the new democratic congress.

obama is going to get the brunt of this crap an the dow is going to be WORSE next year.

remember this post.

[shakaama]

as a black man.. and one that is patently aware of the issues, that was my one big fear about him being elected. my fear is that he will come in as the "1st black president" and all this crap, doodoo that stupid bush has let just fester and boil, and bernanke and paulson have just stuck their penis in and stirred and paid off regulators have avoided, is going to hit the fan, and obama is going to look incompetent in the average white american's eyes. ignorant of the issues

[shakaama]

shiff needs to be on obama's team.

i think i'll lobby for it to happen. if that retarded kid got sarah pailin as the vp pick i can get shiff into the white house staff.

[Uwiluz60]

Peter Schiff...Has been right on the last 3 years...DON'T BAILOUT!!!!!Don't nationalize the autos or the banks....Its the Obama way!!!!

[cevod123]

Oh did I mention we are a FREE MARKET or at least I thought.

[cevod123]

The guy that comes on at roughly 3 min is a total ass clown. Yeah cars are the second biggest purchase after a home, but that said they are the biggest losing purchase also a complete waist of money buy a used car that will get you from A to B save the rest of your money and do something else with it. moral of the story we don't need all this expensive over the top BS.