Should the big3 get a bailout??

[manning]

Should they get one?

 

[minnie61650]

Yes, definitely!
The Big 3 American auto companies deperatly need a bridge loan to keep them from folding.
We cannot afford to add another 2-3 million unemployed workers during this already severe economic recession.

If any one the Big 3 american auto companies goes under the rest of the US auto companies including, US Honda and US Toyota will most likey follow.

If that happens than millions of more persons will be effected by trickle down bankrupcy.

JUst my 2 cents.

 

[denisenh]

I don't know what a good answer would be.
I don't tend to agree with lending large amounts of money to chronic losers, but it is true what PP said.

If a bailout loan is THE ONLY WAY (is it?) to save the 'big 3" and they don't get one and then fail, can you imagine all of the unemployment checks and more folks struggling without health insurance benefits?

You know darn well those with a decline in income aren't going to be paying for COBRA'ed health insurance every month.

 

[The Mayor]

NO....NO...NO...not unless the government is going to bail out every poorly run company that goes bankrupt...I wouldn't be for any bailouts except for the fact that bailing out the banks may, and I said may, help save homeowners from foreclosure.

 

[S. C.]

NO....NO...NO...not unless the government is going to bail out every poorly run company that goes bankrupt...I wouldn't be for any bailouts except for the fact that bailing out the banks may, and I said may, help save homeowners from foreclosure.

Why should people be able to keep their homes because of THEIR OWN bad choices of taking on too much debt, but not their jobs?

 

[The Mayor]

Why should people be able to keep their homes because of THEIR OWN bad choices of taking on too much debt, but not their jobs?

For as many people that got in over their heads there are people that got scammed by fly by night mortgage companies...you have to take the good with the bad in that case...and if it saves one of the homeowners that got bamboozled then it's worth it to me...I'd rather save that homeowner than some friggin car company that paid their CEO $22 MILION dollars a year to lead them into the toilet!!!!!!!!!!!!!!!!!!!!!!!

 

[S. C.]

For as many people that got in over their heads there are people that got scammed by fly by night mortgage companies...you have to take the good with the bad in that case...and if it saves one of the homeowners that got bamboozled then it's worth it to me...I'd rather save that homeowner than some friggin car company that paid their CEO $22 MILION dollars a year to lead them into the toilet!!!!!!!!!!!!!!!!!!!!!!!

So its ok for the everyday worker to lose their job and their homes because of the friggin car company that paid their CEO $22 MILION dollars a year to lead them into the toilet?

 

[veraletta]

Yes, definitely!

 

[The Mayor]

So its ok for the everyday worker to lose their job because of the friggin car company that paid their CEO $22 MILION dollars a year to lead them into the toilet?

If my company goes bankrupt is the government going to save my job...NO...if the small business owner goes bankrupt because he mismangaed his money and 5-10 employees lose their jobs, is the government going to save their jobs...NO...why should the "Big 3" be any different!!!!!!!!...don't forget we've already given these morons $25 BILLION dollars

 

[S. C.]

If my company goes bankrupt is the government going to save my job...NO...if the small business owner goes bankrupt because he mismangaed his money and 5-10 employees lose their jobs, is the government going to save their jobs...NO...why should the "Big 3" be any different!!!!!!!!...don't forget we've already given these morons $25 BILLION dollars

OH i see....but it's ok to bail out foreclosers because of some fly by night company that cheated them. UM yeah .... that makes sense.

 

[The Mayor]

OH i see....but it's ok to bail out foreclosers because of some fly by night company that cheated them. UM yeah .... that makes sense.

That's your best comeback ...so you'd rather see the banks fail than the car companies ...that would be much better for the economy

 

[S. C.]

That's your best comeback ...so you'd rather see the banks fail than the car companies ...that would be much better for the economy

You didn't see me laughing at your comeback.

I'm trying to show YOU how bias you are. It's ok in your opinion to give AIG and the banks all that money to save one forecloser because a few of the homeowners MAY HAVE got taken by fly by night companies. BUT...in your opinion you have no sympathy for the workers because of the choices in your opinion that the CEO's made.

 

[LisaR]

If my company goes bankrupt is the government going to save my job...NO...if the small business owner goes bankrupt because he mismangaed his money and 5-10 employees lose their jobs, is the government going to save their jobs...NO...why should the "Big 3" be any different!!!!!!!!...don't forget we've already given these morons $25 BILLION dollars:scared1:

The Big 3 has not received a SINGLE PENNY. They have NOT in any way, shape or form received $25 billion dollars. That money has been earmarked for new technology ONLY and it will take at least a year before they allow the automakers to have it unless Congress decides otherwise.

I will never understand those that supported a $700 billion banking bailout and refuse to support a $34 billion loan to the auto makers. So we can bail out stupid people that got in over their heads but we can't help out MILLIONS of people that will be unemployed if the Big 3 fail? And by the way, how many people have the banks helped with that money so far?

 

[S. C.]

The Big 3 has not received a SINGLE PENNY. They have NOT in any way, shape or form received $25 billion dollars. That money has been earmarked for new technology ONLY and it will take at least a year before they allow the automakers to have it unless Congress decides otherwise.

I will never understand those that supported a $700 billion banking bailout and refuse to support a $34 billion loan to the auto makers. So we can bail out stupid people that got in over their heads but we can't help out MILLIONS of people that will be unemployed if the Big 3 fail? And by the way, how many people have the banks helped with that money so far?

Well said Lisa!

 

[The Mayor]

The Big 3 has not received a SINGLE PENNY. They have NOT in any way, shape or form received $25 billion dollars. That money has been earmarked for new technology ONLY and it will take at least a year before they allow the automakers to have it unless Congress decides otherwise.

I will never understand those that supported a $700 billion banking bailout and refuse to support a $34 billion loan to the auto makers. So we can bail out stupid people that got in over their heads but we can't help out MILLIONS of people that will be unemployed if the Big 3 fail? And by the way, how many people have the banks helped with that money so far?

I don't think all that money has been doled out yet...so in light of your response, which leaves one of my questions unanswered, should we bail out ALL mismanaged companies ...and the $25 Billion has been given out...while Honda and Toyota were thinking ahead with the Hybrid cars our "Big 3' morons were coming up with the Hummer, Tahoe, Escalade, Suburban, Expedition...yes, let's bail them out so because they have such great vision for the future...and before we bail them out why don't the three CEO's give back some of their millions of dollars salary and bonuses.

 

[S. C.]

The vehicles you mentioned were all HUGE sellers before the credit crunch and before gas skyrocketed.

You didn't answer all of my questions either!

 

[Colleen27]

.don't forget we've already given these morons $25 BILLION dollars

No, we haven't. They were promised that money but it has not yet been distributed.

 

[Lib E]

No. I wasn't thrilled about the bank bailout, but our country and financial system cannot survive without banks.

The Big 3 have lost business due to quality issues and continuing to make products that aren't in demand. They have further diminished their profits with poor management and personnel/pay issues.

Losing jobs is horrible, but keeping a company afloat which doesn't produce a product that can keep it profitable doesn't make sense. I also don't believe the trust of the consumers who won't buy Big 3 will miraculously be restored by the offer of more fuel efficient vehicles.

 

[The Mayor]

You didn't see me laughing at your comeback.

I'm trying to show YOU how bias you are. It's ok in your opinion to give AIG and the banks all that money to save one forecloser because a few of the homeowners MAY HAVE got taken by fly by night companies. BUT...in your opinion you have no sympathy for the workers because of the choices in your opinion that the CEO's made.

I do have sympathy for the workers...but again... will the government bail out my or other companies that have been mismangaed...NO...is my job or someone elses less important than an auto workers.

 

[Colleen27]

I don't think all that money has been doled out yet...so in light of your response, which leaves one of my questions unanswered, should we bail out ALL mismanaged companies ...and the $25 Billion has been given out...while Honda and Toyota were thinking ahead with the Hybrid cars our "Big 3' morons were coming up with the Hummer, Tahoe, Escalade, Suburban, Expedition...yes, let's bail them out so because they have such great vision for the future...and before we bail them out why don't the three CEO's give back some of their millions of dollars salary and bonuses.

And those SUVs have been their best selling products until the last few months ( and it appears with gas prices low again, they'll be back on top the sales charts again in the very near future. A good friend who works for a Ford dealership said it is only the tight credit market holding back the resumption of F150 sales).

As far as who deserves bailouts... I think the deciding factor needs to be the overall wellbeing of the nation. In the case of the banking sector, allowing the market to self-regulate would have brought too much to a screeching halt when credit came to an abrupt stop. The bailout should have been done much differently, with serious strings attached and a good deal of oversight, but it was a necessary evil. The auto bailout is in the same category. Bloomberg estimates the government costs of a Big 3 bankruptcy (just one, not all 3) at 150-200B in increased PBGC payouts, unemployment, welfare, etc. That isn't taking into account lost tax revenues, which would be in the same range over just 3 years. A 34B loan is a small price to pay to avoid nearly 10x that in increased spending and decreased revenues.