Corporate America stepping up!

[1ViciousGSX]

Leave it to Tom to take what I said and twist it around.

Show me were I said the government should tell Chrysler what to do. I'm only pointing out how the American taxpayer got fucked again.

GEM-JEN, auto correct is a bitch sometimes.

Chrysler and GM both should have went through structured bankruptcies without government intervention, you would have had the same results without dumping all that money down the drain. But you see Tom, that would have the unions without power, and can't have that now can we?

[Super Bleeder!!]

Originally Posted by 1ViciousGSX

Chrysler and GM both should have went through structured bankruptcies without government intervention, you would have had the same results without dumping all that money down the drain. But you see Tom, that would have the unions without power, and can't have that now can we?

Yeaaaa, because that would have been really great for the THOUSANDS of 3rd party suppliers that would have likely gone bankrupt during those bankruptcies. Those companies are huge trees and their roots go many places. Its not as simple as you'd like to think.

[JET]

Originally Posted by Super Bleeder!!

Yeaaaa, because that would have been really great for the THOUSANDS of 3rd party suppliers that would have likely gone bankrupt during those bankruptcies. Those companies are huge trees and their roots go many places. Its not as simple as you'd like to think.

His point was that is still happening. Those jobs are still going to go overseas, so it just postponed it. Now, the economy is in a bit better shape now and it can probably absorb those job losses better than it could have at the time of the bailout. Was it worth the billions we spent? We'll never know that one way or the other probably.

[Super Bleeder!!]

Originally Posted by JET

His point was that is still happening. Those jobs are still going to go overseas, so it just postponed it. Now, the economy is in a bit better shape now and it can probably absorb those job losses better than it could have at the time of the bailout. Was it worth the billions we spent? We'll never know that one way or the other probably.

Saying that is getting a bit head of ourselves, i think. We'll just have to wait and see where the holy job creators take us!

[tpunx99GSX]

Originally Posted by Super Bleeder!!

Saying that is getting a bit head of ourselves, i think. We'll just have to wait and see where the holy job creators take us!

regardless of who wins the election i really do hope people realize that NO PRESIDENT, no matter what they say on the trail, can turn around an economy in one day (as someone seems to think they can) one week, one month or even one term. The massive shit hole we were in, everyone should be much happier that we are on the upswing now. 2008 was very stressful for a lot of people, unemployment is down, manufacturing is now on the upswing, employment numbers are moving up even more, etc.
If the members of congress stop playing filibuster everything and put their differences aside, they should be able to get something done sooner rather than later.
I know this may sound like an obama nut swinger, but i dont think a change in presidents is what we need, we dont need someone to come in and "shake things up", we need someone to give constant and steady results and finish what he started.

[tpunx99GSX]

Originally Posted by 1ViciousGSX

Chrysler and GM both should have went through structured bankruptcies without government intervention, you would have had the same results without dumping all that money down the drain. But you see Tom, that would have the unions without power, and can't have that now can we?

This has been refuted many times for the simple fact that NO PRIVATE CAPITAL WOULD FRONT A STRUCTURED BANKRUPTCY OF THAT PROPORTION! There had to be government money otherwise there would be no auto industry, and like super bleeder said, it would kill a number of other companies. Again heres where historical fact comes into play. The banks were all figuring out their own problem of how to unfreeze the system, the auto companies were the least of their concern. The government stepped in so that the auto industry would not implode causing millions more unemployed. This is why i laugh when Romney says "the president did the same thing i suggested" Sorry but no he didn't, your way wouldn't work, and every economist with any knowledge agrees.