ZenLunatic

So Democrats reject the $25 billion for the energy car thing being used as help for the car companies. Auto industry has no bailout. Senate will meet again in December for another meeting to see if GM and others have a better plan. I really think the Democrats are taking a big risk with that if they really wanna help the car companies.

Then why shouldnt any other non-bank finanical company have access to the money also? Get in line, I think the credit card companies were first. This brings up the future of credit cards. Dont be suprised when you start seeing your credit cards drastically lowering your limit. Why doesnt GM sell off GMAC?

I know GMAC is into mortgages, started out as car loans and went into mortgages.

Unacceptable. A bank that gets acquired should not have access to any bailout funds.

I know its gonna suck for Detriot and whoever is directly effected but it is the right move. They can get bank status if they want, but the government has to realize all these businesses cant just start changing into banks just to get money.

Really doesnt look like a bailout is gonna happen this calendar year. So happy that America isnt as stupid as I thought it was. Good sense won this time, I just hope we are getting smarter about this whole bailout plan. Worried about what Obama may do once he gets in. If GM wasnt lying, they should file Chater11 early Janurary. GMAC now trying to become a bank to get bailout funds. Dont think this will work either.

Yeah we have to try to help the people that are hurt the most by this. I just dont support giving billions to the same people who ran the companies at this point. For the most part, we offered them the $25 billion from the energy car plan, they want to keep that and get $25 more. Cmon..... they dont deserve the first $25. The hearings are over. GM needs money now or else they will file Chpter11, they wont make it till Obama gets in so we should hear a resolution soon.

I have been on the watch for the mother myself and havent seen her. It's naptime now.

The existing labor and pension contracts are a big part of the problem though, why do you want to keep them in tact? The fact is, people will suffer and you cant avoid it. Trying to avoid it makes political sense but not economic sense.

One just woke up and looks to want the others awake.

The sad part about all this, is that we as tax payers will probably end up giving them money. Then later, they will ask for more and we maybe give them more. Our leaders have lead us astray, the only thing we can do now is protect our own wealth.

Live Puppy Cam http://cdn1.ustream.tv/swf/4/viewer.45.swf?cid=317016

Ok back to my point, I dont want implosion, who does?? -- its just are fate. I just want to cut off creating more damage and start the healing. The closer you are to retirement, the more you should in cash and bonds types than in equities. You cant afford to be at risk so close, and if you were, you were playing and you lost. To the people that did lose, it is horrible and you can blame the FED for this mess. Blame Alan Greenspan and Bernake who's job was to look over things like this. What the result of our situation can lead to is that there is no retirement anymore except for the su

Yeah, I think we are the two opposing sides. Of course you have to have timing to play the markets. Just saying timing on calling big trends is not important, because those trends will eventually happen. If you have to wait years or a few months, it will happen. No one can predict when bubbles will pop close enough to make sound investments. His plays are long terms on sound investments not trying to catch the right side of a certain bubble. There's always high risk factor, when trying playing this way. You could argue that you want to play short term markets and in that timing is cr

Schiff's ideas are not about timing the market. Its about the fundalmentals based on Austrian Economics. He's not out there giving short term advice or calling timed deals. If you know there is a bubble about to burst and you play, you are really gambling big time cause no one can predict the burst. If you are wrong, you lose tons of money, if you are late, you make your money later. How can being late be worse? Schiff is probably early on his current predictions, just like his other ones, but he's always been right. His track record speaks for itself. Timing isnt that important when

First off, you cant have a company driven by cheap loans. Cheap money is the reason we are in the this mess. If you rely on that, you're company is garbage. You also have to admit to being a fool if you are in a upside down car loan. If you buy a car with no money down, you are trying to live way past your means. Stupid irresponsible move. Companys should be driven by quality products at good prices. Well it seems like GM really doesnt know how to make a car economically. It hasnt for the past decade or 2. So what's going to make me think they know now? At least give someone else a

Peter Schiff, economic advisier for Ron Paul. Why dont we listen to the people who predicted this whole thing instead of relying on the people who got us here.

From what I've been hearing, GM cant wait until Obama is president. They maybe gone by year end or else they would just wait.

Undercutting Honda and Toyota in price and quality. Now thats a US car company I want, can GM and Ford even get there with where they are now? Just because the Big 3 fails doesnt mean there will be no US car company ever. Someone is bound to buy up the pieces and build a company from the ground up that can compete effectively. There is alot of opportunity here for the right businessman.

I have to disagree with you on "Rapidly shifting consumer demand". Honda and Toyota have been following consumer interest for years by making high reliability cars that are great on gas mileage, nothing new. When it comes to cars, the thing most people look for is resale value. Check the resale value of american cars to foreign cars on the whole for the past decade. It shows the story. Also, isnt there a fundalmental business problem is you are #1 in sales and you have huge money problems? How is that issue going to be addressed? Yeah GM made bad business decisions and risks and now f

They need to manage their way out of this mess through retooling in chapter 11 like everyone else. If they cant, they dont belong to exist. Do you think after the auto industry gets the bailout money, people will see the company differently? Will people actually start buying US cars more now? So what change will bailout bring except keeping the company alive for a bit longer and wasting tax payer money? So we will find out this week. Meetings tues and weds. Auto makers asking for money from govt. Interesting to see how much money will be given and at what conditions.

If GM goes Chapter 11, they can run without the restraints of union contracts to help re-org the business. This could be a way to emerge a new company with a different structure. Why not let this happen?

When I said "you", I was more referring to the person who wrote the article you posted. Main point: I think people who want the bailout of the auto industry is mostly in the auto industry and fighting for their own livelihood. Thats all good and fine, but that doesnt make it right. I have the stomach to find out what it could have been if we never bailed out the banks so the auto company is small potatoes. I would not buy a US car before, now, or after bailout. The cars suck and a bailout wont change that. If you think people wont buy from a Chpt 11 company, why would they buy from

I would have to say you are in a minority on that opinion. You are only thinking of yourself getting bailed out because most of us know that the bailout of GM is a bad idea. Yeah we know GM going down is a huge blow, but you dont know for sure that GM cant survive chapter 11. If it cant, that its own fault. Someone else will come in and make a real profitable car company that will be able to compete. I would not being counting on GM to pull through with or without any government help. Either way, there will be massive restructuring and downsizing.

YES! Sounds good. A job is a job. With unemployment rising, you are doing good. good work.