A "car czar"?

[HognotinMemphis]

WTH? Gov't taking equity ownership in the Big 3 after already taking equity ownership in hundreds of financial institutions.

Are the Big 3 going to be "Amtrack'd"? How many industries can be nationalized in a capitalistic economy/society? I smell governmental corruption coming. Too bad there are not term limits on members of congress.

Here is what I think about the remedy that congress has tentatively proposed for the Big 3. It won't work. $15 billion won't get them through 3 months. The UAW will play chicken and will not agree to further salary cuts and benefit losses. In 3 to 6 months, you'll see one of two things, with or without a car czar overseeing the Big 3 - they'll be back in Washington asking for another $15 to $20 billion or GM and Chrysler will be in bankruptcy.

[Fletch]

I think it is a pretty well known fact that the funds the Big 3 are seeking now will not be enough in the long run.

[Verge]

socialism time...


All of this is very very bad.

[hawgwilde]

And people bash Wally World for not wanting to go union...go figure!

[beachhawg]

socialism is just about apparent.  government needs to let what fails fail. 

[dennab]

Speaking of term limits for Congressmen, is there ANY possible way to implement this?  Of course we'd have to cut their pensions too.

[ConwayHog]

Sorry to be a doom and gloom guy but if we don't get back to some reasonable capitalistic measures, we will be watching the fall of the USA.  People like Barney Frank are going to have this country in such a mess.

[HOGSCALD]

Sorry to be a doom and gloom but if we don't get back to some reasonable capitalistic measures, we will be watching the fall of the USA.  People like Barney Frank are going to have this country in such a mess.

Barney Frank is a person?  He's a politician, please don't confuse the two.

You mean you don't get a warm, fuzzy feeling knowing that Barney holds a lot of your future success in his hand?

[ConwayHog]

Barney Frank is a person?  He's a politician, please don't confuse the two.

You mean you don't get a warm, fuzzy feeling knowing that Barney holds a lot of your future success in his hand?

That's an emphatic no.  I also believe that I don't need the government to create my future.  Stay out of my way and the markets so that I can get a decent return on my invested assets and hold a decent paying job. 

[hawgrunner]

Let the dude running Toyota be the czar

2007 Toyota Sales = 9.37mil units = 17bil profit

2007 GM Sales = 9.37mil units = 37bil LOSS.

I see the light! 

[HognotinMemphis]

See my post that started this thread. Bingo! I hit it on the head 2 1/2 months ago. See this article in today's online WSJ:

http://online.wsj.com/article/SB123500874299418721.html?mod=djemITP

GM alone is going to cost the federal gov't at least $100 billion whether it gets bailout money from the govt or declares bankruptcy. Told you that the orginal $15 billion they asked for back in early December would end up being literally a drop in the bucket. It was so easy to see. The taxpayer is really getting screwed here. There is only so much to go around and when people make stupid decisions, the piper eventually has to be paid.

[john c]

And don't forget the exposure to the Pension Benefit Guarantee Corporation.  Taxpayers will have to pony up.  I already feel like I've been ridden hard and put up wet.

[HognotinMemphis]

And don't forget the exposure to the Pension Benefit Guarantee Corporation.  Taxpayers will have to pony up.  I already feel like I've been ridden hard and put up wet.

You have been.

[hawgrunner]

I'm still waiting for MY stimulus check.

and you'll keep waiting!

[john c]

I'm still waiting for MY stimulus check.

You want a stimulus check?  Go write a check to a neighbor for $1000 and have them write you a check back for $100.  Even swap, you both got a check.

[RazorbackRon]

See my post that started this thread. Bingo! I hit it on the head 2 1/2 months ago. See this article in today's online WSJ:

http://online.wsj.com/article/SB123500874299418721.html?mod=djemITP

GM alone is going to cost the federal gov't at least $100 billion whether it gets bailout money from the govt or declares bankruptcy. Told you that the orginal $15 billion they asked for back in early December would end up being literally a drop in the bucket. It was so easy to see. The taxpayer is really getting screwed here. There is only so much to go around and when people make stupid decisions, the piper eventually has to be paid.

Yea, aren't you the guy who told everybody to buy GM stock back when it was like $12-15 a share ?  You said it was going to go through the roof.  Oh yeah, GM stock closed @ $1.77 a share today. 

[Dr. Leonard Ford]

 Yes, that was HiM.

[HogNuttz]

I can't type into words how pissed I am at our government.  They've socialized to some extent or proposed to socialized:

Healthcare
Prescription Medicine
Retirement
Education
Financial Industry - to some degree
Etc...etc....etc.....
and now the auto industry

ARE YOU PHUCKING KIDDING ME!!!!


With the exception of education, all the others are either:
1) In bad shape because of the current state of the economy
2) Were in piss poor shape when the economy was roaring the last 20 or so years




Yeah, I really want to keep socializing.  Everything the government touches turns to dog crap except education and the only reason it hasn't went in the crapper is because education is handled more so on the state level than the national level.  Our government (federal) could easily be cut to 1/3 the size of its current state and probably should.  Only problem is the democrats and republicans are in too much of a pissing match and anyone who proposes to cut the government by so much as 1/4 of it's current size would never receive popular support.  The federal government needs to:

1) Set federal criminal laws and run federal prisions
2) Run the military
3) Deliver my mail
4) Help, but not own, interstate and highway construction
5) Get all the non-taxpaying illegals out of the country, as opposed to nationalizing them as well

and a very few select other items.  Instead, they are now own banks (or mortgage backed securities from banks that will never be worth a $hit), a piece of healthcare and medicine, part of MY retirement, and the auto industry is next.  PHUCK ME!!!!!!!!!!  I pay taxes and the government won't let me decide how to spend my retirement savings!

Pretty soon, the government will own socks, home made jelly, Ebay, the local farmers market, garage sales, little girls lemonade stands, girl scout cookies, the classified section in your local newspaper, vending machines, and the kid down the steet that cuts your lawn.


I wish Canada and Mexico would swap geographic locations so I could pack up my schitt and move to Canada.

[HognotinMemphis]

Yea, aren't you the guy who told everybody to buy GM stock back when it was like $12-15 a share ?  You said it was going to go through the roof.  Oh yeah, GM stock closed @ $1.77 a share today.

One can say that about oh....any of several hundred equities right now, doofus.