Citing danger to the economy, President Bush approved an emergency bailout of the U.S. auto industry, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers. (Dec. 19)
GM isn't in financial trouble because they can't sell cars, they are in trouble because GMAC made risky subprime mortgage bets and lost $7.9 BILLION over the past five quarters. They took all the profits from these bets and now we are going to take the losses for them. Isn't this world grand.
Just look at the idiots at Ford! They spread themselves to thin. They have invested next to nothing in develping fuel effecient cars and now 80% of thier inventory is SUVs and trucks that are just sitting on car dealership lots all across the U.S. They bought Volvo, Jaguar, and LandRover then quickly dumped them off when they realized those brands were failing. And what American taxpayer is responsible for those decisions? Not me or you and we shouldnt have to pay for it.
we should all be aware of the extremism talk here. they keep saying that if they dont get a bailout then they will have to cut jobs and go into bankruptcy. but then if they do get the money then there no garuntee it will go to keeping those american jobs. where's the middleground? If it were up to me the big 3 would get about 1/10 of what they are asking for. Why give these idiots taxpayer money when we all know they caused this? They need to change their failed business model before anything.
2 million real Americans would be workless and homeless if the Big 3 fail. They got $17 billion and it is a big deal.
Bernie Madoff and Jewish bankers ruin Wall Street and our economy and they get $900 billion and no one bats an eye. New York bankers should look to the country they love, Israel, for money.
glad that creep is out of office. what a freakshow
rudeawakeningxxx 2 years ago
Yeah well you said "Toyota doesn't need a bailout" actually Toyota did get a bailout,$2billion from the Japanese gov...
ChevroletBowtie 2 years ago
toyota sells more because they are better cars, i love chevy to but its true, if gm had a prius clone they would not be in this situation
attactoftheretard 2 years ago
Thats because Toyota does more sales than GM does.Did you know that Toyota does huge buisness with Iraq and Iran?
Have fun driving the same automobile the terrorist drove to dullas airport that bombed us on 911
ChevroletBowtie 2 years ago
they should just close now, they make shit cars thats why they are going down, toyota isnt looking for a handout
attactoftheretard 2 years ago
help
mannyfeseha 3 years ago
GM isn't in financial trouble because they can't sell cars, they are in trouble because GMAC made risky subprime mortgage bets and lost $7.9 BILLION over the past five quarters. They took all the profits from these bets and now we are going to take the losses for them. Isn't this world grand.
agentbb007 3 years ago
Just look at the idiots at Ford! They spread themselves to thin. They have invested next to nothing in develping fuel effecient cars and now 80% of thier inventory is SUVs and trucks that are just sitting on car dealership lots all across the U.S. They bought Volvo, Jaguar, and LandRover then quickly dumped them off when they realized those brands were failing. And what American taxpayer is responsible for those decisions? Not me or you and we shouldnt have to pay for it.
sfields619 3 years ago 2
we should all be aware of the extremism talk here. they keep saying that if they dont get a bailout then they will have to cut jobs and go into bankruptcy. but then if they do get the money then there no garuntee it will go to keeping those american jobs. where's the middleground? If it were up to me the big 3 would get about 1/10 of what they are asking for. Why give these idiots taxpayer money when we all know they caused this? They need to change their failed business model before anything.
sfields619 3 years ago
2 million real Americans would be workless and homeless if the Big 3 fail. They got $17 billion and it is a big deal.
Bernie Madoff and Jewish bankers ruin Wall Street and our economy and they get $900 billion and no one bats an eye. New York bankers should look to the country they love, Israel, for money.
Keep manufacturing jobs in the United States.
drew20211 3 years ago