Barney Frank Shows Wall St. and Detroit How to Run Business!

http://www.google.com/hostednews/ap/article/ALeqM5gbjFY-o07QeryRxtFR3oC1w_v1PwD94H1IQO1

[Barney Frank]… says a House auto industry bailout would require that U.S. automakers immediately repay $25 billion in government loans next year if they can't show they're financially viable… Frank told CNN that lawmakers want a plan that will show that the companies are viable and that the money should be repaid if they aren't viable.

If the Big Three are not viable, how the hell can they pay the money back?

ohio county wrote:http://www.google.com/hostednews/ap/article/ALeqM5gbjFY-o07QeryRxtFR3oC1w_v1PwD94H1IQO1

[Barney Frank]… says a House auto industry bailout would require that U.S. automakers immediately repay $25 billion in government loans next year if they can't show they're financially viable… Frank told CNN that lawmakers want a plan that will show that the companies are viable and that the money should be repaid if they aren't viable.

If the Big Three are not viable, how the hell can they pay the money back?

Good question. And, if a corporation is "too big to fail," then what is to prevent them from factoring in big brother's bailouts in all future labor negotiations? This money they are asking for is not going for "retooling"--it is going to pay for the "legacy" retirement system of people receiving 95% of the salary as retirement pay with 100% medical, eye and dental coverage.

You're still pretty sharp for a fifty-eight year-old guy!

Well I saw him on a couple talking head shows and he said the Gvt. would be first in line.

Ahead of any other lenders, etc.

So the Gvt. loans would be paid from the assets of the company.

Maybe every mid-level bureaucrat can get a new Cadillac or pickup to drive.

You saw Armon Ayers on the talking head shows? I thought he only did TV in Europe!

Jim....what thread is that link in to the article about the job banks or whatever they're called? I need that link!

It's here on more bailouts.

Or you can find the article HERE

Thanks so much, Aaron!

Did you ever hear of such a silly lame assed excuse as:

They need the additional $25 BILLION to re-tool so they can produce more fuel efficient vehicles.

Well "DUH", they have had almost 30 years to do that ....... and haven't.

What is it, ...... 80% of the gasoline a vehicle burns is emitted as heat ...... and does nothing to propell it down the road.

But go ahead and give them that additional $25 BILLION, ..... they aren't going to pay it or the 1st $25 BILLION back, anyway, ....... and the taxpayers will have to pay those loans off.

And besides, with that influx of $50 BILLION, ..... the UAW will be demanding and getting higher wages and even better benefits ......... and then management will have to increase the retail price of the vehicles ................... and thus the taxpayer will not only be paying for the bailout of the automakers, ...... when they purchase a new car .... they will be paying additional money to the automakers because they were bailed out.




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If the Big 3 are too big to fail ........ then break them up.

When Standard Oil and Ma Bell got too big ........ the government didn't have any problem breaking them up.

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Bill Clinton went after Microsoft, for pete's sake.

Hard to believe Americans would rather favor foreign products over American.

And try to force American companies out of business.

What ever happened to old fashioned patriotism?

All for one and one for all?

I guess politics is more important than patriotism.

long as you can bust the union and put working people in their place.

Sod, it is precisely that mindset that got GM into this mess. Why build a superior product when you can count on Americans to buy an overpriced piece of crap? Decades of poor management and caving to unions are coming home to roost.

And, by the way, I support providing loans to GM and Ford. Their bankrupty during these already panicky times would cause far-reaching pyschological damage to the economy beyond just the dollars and cents impact. But when you lose $50 billion since 2005, as GM has, I'd say that's some poor strategic planning.

I agree it is poor management.

And I agree there is some merit to the criticism of the UAW.

But that does not justify the attitude displayed on here.

There seems to be a perverted joy at seeing the big 3 go down.

I suspect they will change their tune if it actually happened.

I agree it is poor management.

And I agree there is some merit to the criticism of the UAW.

But that does not justify the attitude displayed on here.

There seems to be a perverted joy at seeing the big 3 go down.

I suspect they will change their tune if it actually happened.

If I was running GM and my own country turned me down and risked millions of good jobs, I would go to China and see if they wanted to invest.

Right, we should fork over $25 billion, in addition to the $25 billion they're already getting. The taxpayers should shoulder this burden but the UAW shouldn't make any concessions, not even regarding the 12,000 members receiving enviable paychecks for sitting around playing cards and watching documentaries. The American people should take this on while the executives jet around in their multi-million dollar private jets.

We should keep quiet about all of these things, about the mismanagement, the greed, the laziness, the inferior products and lack of innovation. We should just keep taxing the producers of this nation in order to keep the things going.

I take no pleasure in seeing hard working Americans lose their jobs. I will take a certain amount of pleasure in seeing the "job banks" close. If that's perverse so be it.

What ever happened to old fashioned patriotism?

It was squandered away by applying it to such morally bankrupt enterprises as the Vietnam War, the invasion and occupation of Iraq, the "Patriot Act" and to other illegitimate usurpations of "patriotism". When everything is presented and defended as patriotic, then "patriotism" becomes a meaningless monotonous cliche- and eventually even a suspect proposition.

I don't care about Ford, GM, or the UAW. I do mourn for all the ancillary industries and small businesses that will lose everything. GM has been bleeding their suppliers for years. What a relief to be out from under them!

ziggy wrote:

What ever happened to old fashioned patriotism?

It was squandered away by applying it to such morally bankrupt enterprises as the Vietnam War, the invasion and occupation of Iraq, the "Patriot Act" and to other illegitimate usurpations of "patriotism". When everything is presented and defended as patriotic, then "patriotism" becomes a meaningless monotonous cliche- and eventually even a suspect proposition.

You're confusing patriotism with nationalism.