Canuck57 wrote:
"John" wrote in message
...
On Mon, 15 Dec 2008 20:25:11 -0500, Tom Francis - SWSports
wrote:
At first, I was ok with the Treasury buying up mortgage securities and
stabilizing the mortgage industry.
Then I got a little itchy when that changed into a bank bailout, but I
rationalised that as necessary to keep the country's economics stable.
I became concerned that after the money was dispersed, there didn't
seem to be a lot of money coming back out in the form of loans to
small business and/or stabilizing a rational approach to mortgage
lending for private and commercial development.
I became annoyed when the Little Three wanted money to bail out their
ridiculous UAW health care system and keep them afloat with failed
business plans and no plans forthcoming for the future.
Now I'm ****ed off.
http://www.denverpost.com/business/ci_11047116
Enough stupiditiy to make me give up skiing:
"In that vein, 70 ski resorts across the nation are lobbying Congress for
mandatory caps on carbon-dioxide emissions, hoping to decrease the amount
of greenhouse gases that contribute to global warming."
A point to ponder. Why should UAW be any more preferential than the other
98 to 99% of the population losing their jobs and livelyhood that have
nothing to do with autos?
The UAW's jobs are no more important than they guy down the street who
lost his job last week.
Could it be Cerberus management after taking the cash and profitable bits
out of Chrysler and repackaging the dog now want to dump it on the
government? Only a few years ago their ponzi scheme mad billions!
The management at Cerberus deserves the losses they incur. If Daimler
Benz found out that Chrysler was a dog why did Cerberus think they could
do anything with it?
Or could it be Congress person has a lot of GM bonds in their private
accounts? Maybe a little payolla for re-election?
Lot's of payola to the numerous Democrat campaign funds.
Or could it be the super rich want some money out of GM and
Cerberus-Chrysler and will syphon the bailout money?
Everyone is trying to figure out how to get their hands on some bailout
money.
Why do they want to avoid chapter 11 that could fix a lot of problems?
Could it be the books are cooked? Money gone missing? Maybe the same
ex-CEO is getting an obscene pension that was never properly funded is
calling is Harvard buddies?
Nobody wants their books examined. The accounting firms and the CEO and
CFO of GM and Chrysler may be looking at some time in a federal pen.
GM and Chrysler need to do chapter 11 on principle if the system is 1/2
baked honest. Trying to bail out every business and industry can and will
bankrupt the USA. By allowing chapter 11, the GM and Chrysler books can be
examined for waste and corruption. It allows a real cleanup and back to
basic tried and true business practices. GM management and board need to be
fired with cause, they have been losing money so long managment has
forgotted about how to run a sucessful business.
AIG should been left to go thru Chapter 11. Congress is full of idiots
for giving Sec of Treas unlimited freedom to spend $700 billion without
any controlls.
GM & Cerberus-Chrysler are dogs.
Chrysler should have been left to go bankrupt back in 1980. If it wasn't
for the M1 Abrams the government never would have stepped in.