So, did they bailout the car companies?

[czarina]

I've been having a hard time following the news lately with so much work, and the Xmas, and what not, so can someone enlighten me? Did they get bail out or not? thanks!

[96ukssob]

Originally Posted by czarina

I've been having a hard time following the news lately with so much work, and the Xmas, and what not, so can someone enlighten me? Did they get bail out or not? thanks!

i havent heard anything but i sure hope not. why would they need SOOO much money now? seems a bit odd to me

[pornguy]

The car companies need to start working on the lending themselves. In house financing.

[Vendot]

Its unclear.

First it looked like it was going ahead, then it didnt, then it did and now its like theyre looking at some kind of a compromise to keep them ticking over till new year.

[StuartD]

http://usnews.rankingsandreviews.com...-Auto-Bailout/

From today.

[czarina]

Glad to see nothing has been given to them yet... god, I hope they dont bail them out. That'd be the biggest scam of the century!

[_Richard_]

white house could bail em out without approval. they might also go through teh canadian government

[IllTestYourGirls]

Originally Posted by SBR Richard

white house could bail em out without approval. they might also go through teh canadian government

The biggest travesty and over looked fact.

Why have congress anymore? The Treasury Sec. can just hand out money to anyone they wish, with any stipulations they wish.

[Chauncy]

I cannot believe nobody can see the big picture here they go under it will cripple our entire economy the extended job losses would be in area of about 3 million people in the US and close to another million overseas so that would be 3 million people collecting unemployment think the housing market is bad now let all these people go into foreclosure. They are asking for a whole lot less the banks who have already proven in two short months to have misappropriated billions of the money they were given with no questions asked and the money was just given and not a loan like this which has to be paid back. Oh yeah and lets not forget the banks used that money to pay off debit and not to keep tax paying employees employed TAX PAYING which mean income to the government. The max unemployment is close to 1500 a month which all of these people will qualify for so

3 million at $1500 a month is $4.5 billion a month and worst case they all go the max 26 weeks or 6 months that is $27 billion in unemployment yeah so keep saying no to loan of 14 billions because the 27 billion the government stands to loss in unemployment is a much smarter way to go for all of us.

[seeric]

the industries supporting the auto manufacturers are already cracking and will collapse soon. parts manufacturers etc. lots and lots of companies that depend on the auto manufacturers are laying off thousands and thousands of people. its insane the ripples that are going through other industries because of it.

[tony286]

Originally Posted by A1R3K

the industries supporting the auto manufacturers are already cracking and will collapse soon. parts manufacturers etc. lots and lots of companies that depend on the auto manufacturers are laying off thousands and thousands of people. its insane the ripples that are going through other industries because of it.

I heard on the news already, banks are starting to call mortgages on dealerships and financing for their floor plans is drying up.

[spacedog]

Fuck the car companies.. Fucking scammers..

[sarad]

Originally Posted by Chauncy

The max unemployment is close to 1500 a month which all of these people will qualify for so

3 million at $1500 a month is $4.5 billion a month and worst case they all go the max 26 weeks or 6 months that is $27 billion in unemployment yeah so keep saying no to loan of 14 billions because the 27 billion the government stands to loss in unemployment is a much smarter way to go for all of us.

[IllTestYourGirls]

No one has answered this question yet. Who are they going to sell cars to? Will loans to the big 3 suddenly make people want to buy cars? There are going to be massive lay offs no matter what. Reality for a lot is sinking in. $15 billion is not going to save that many jobs.

The era of DEBT and SPEND are over. Americans need to change their ways.

[Robbie]

Originally Posted by IllTestYourGirls

No one has answered this question yet. Who are they going to sell cars to? Will loans to the big 3 suddenly make people want to buy cars? There are going to be massive lay offs no matter what. Reality for a lot is sinking in. $15 billion is not going to save that many jobs.

The era of DEBT and SPEND are over. Americans need to change their ways.

Please don't bring uncomfortable and inconvenient facts into this discussion! Don't you know the govt. has to have power over everything? And the only way to do that is by money.

Problem is...nobody can buy a car right now. Doesn't matter what the reason is. They just can't and anybody with any sanity is NOT buying things like cars right now.

And just where does all this "taxpayer money" come from anyway? The car companies are obviously NOT paying their taxes if they are so broke. And with 22,000 people losing their jobs everyday last month...those are all people who aren't gonna be paying taxes either.

Sorry, name call all you want. Tell me I don't "understand" the ramifications on our economy. It doesn't change the fact that these car companies are not profitable. All those jobs ARE going to be lost even if they get the bailout.

That's already been said. It's part of what they have to do to show they can turn a profit.

Remember the big bank bailout a month ago? Well, Bank Of America didn't even WANT any money. But they were forced to take it. The result: They fired 35,000 employees this week.

Do you REALLY think that money from the govt. is going to go towards paying salaries?

HELL NO. They are going to cut, cut, cut until they can make the company have solvency.

So all this: "You don't understand, if they don't get a bailout with OUR money there will be MILLIONS of people unemployed and we're going into a great depression.:

No, YOU don't understand. All of that is going to happen whether we waste our tax money or not. The car companies ARE going to fire a lot of people. Count on it.

edit: And by "YOU" I meant the people who support the bailout because they believe it will save workers jobs. It won't.

[Chauncy]

Originally Posted by Robbie

Please don't bring uncomfortable and inconvenient facts into this discussion! Don't you know the govt. has to have power over everything? And the only way to do that is by money.

Problem is...nobody can buy a car right now. Doesn't matter what the reason is. They just can't and anybody with any sanity is NOT buying things like cars right now.

And just where does all this "taxpayer money" come from anyway? The car companies are obviously NOT paying their taxes if they are so broke. And with 22,000 people losing their jobs everyday last month...those are all people who aren't gonna be paying taxes either.

Sorry, name call all you want. Tell me I don't "understand" the ramifications on our economy. It doesn't change the fact that these car companies are not profitable. All those jobs ARE going to be lost even if they get the bailout.

That's already been said. It's part of what they have to do to show they can turn a profit.

Remember the big bank bailout a month ago? Well, Bank Of America didn't even WANT any money. But they were forced to take it. The result: They fired 35,000 employees this week.

Do you REALLY think that money from the govt. is going to go towards paying salaries?

HELL NO. They are going to cut, cut, cut until they can make the company have solvency.

So all this: "You don't understand, if they don't get a bailout with OUR money there will be MILLIONS of people unemployed and we're going into a great depression.:

No, YOU don't understand. All of that is going to happen whether we waste our tax money or not. The car companies ARE going to fire a lot of people. Count on it.

edit: And by "YOU" I meant the people who support the bailout because they believe it will save workers jobs. It won't.

Again I ask so 14 billion for and a chance of success (even as slim of a chance as you think) or nearly twice that in unemployment oh yeah and the what about the people that never recover now we are talking billions more in welfare yeah now that I look at your right fuck'em it makes so much more sense.


btw do you know why GM is low on cash flow right now ????


how soon we forget that they were asked and totally complied by our government after 9/11 to do something to help the country get back to normal and they wrote bad paper on people who shouldn't have gotten loans and the whole 0 % thing and inflated residuals to bring down lease payments that is a large cause to the overflow of used vehicles in the market that are being sold below market value and 30 to 40 % below the expected values based residuals set by those bad loans an leases. Now this will fix itself just like the real estate market will fix itself but it will take time and some assistance from our government for it to happen.

[GatorB]

Originally Posted by czarina

I've been having a hard time following the news lately with so much work, and the Xmas, and what not, so can someone enlighten me? Did they get bail out or not? thanks!

The car companies didn't ask for a bailout. They asked for a LOAN. HUGE difference. And no they didn't get the money and if they don't, be ready for a shit to hit the fan even worse. What's going on now will be nothing. People don't see the larger picture.