Republicans should filibuster the auto bailout

[R.R.]

This is madness. The federal government is bailing out everything that moves. No bank in the world would loan money to any of these automakers with their failed business model, so why should the American people?

Ford, GM and Chrysler all build inferior products to their foreign counterparts. And their heathcare and pension costs are far higher. They should be allowed to fail if nobody wants to buy their products.

[BT]

10% of the workforce is related to the new car auto industry. That crashes we have social problems.

Serious problems.

[R.R.]

We'll get through it. This is America. We have made the best of challenges before. We've already lost 1.2 million jobs over the past quarter. We will get through this. But we can't bail out the big three just because they are large and provide many jobs. What about the local mom and pop hardware store down the road forced to close up because of tough economic times? Where's their bailout money? They don't have millions to spend on lobbyists. Everybody is hurting right now. Sucking the government teat is not the answer.

[BT]

Sucking the government teat is not the answer.

What is?

[Xavier_Onassis]

Allowing the auto industry to fail to make a point would cost more than a rescue attempt. If the GOP filibusters this, they will rightfully be compared to Hoover for the next 40 years.

[Knutey]

Allowing the auto industry to fail to make a point would cost more than a rescue attempt. If the GOP filibusters this, they will rightfully be compared to Hoover for the next 40 years.

If it wasnt so potentially disastrous , this would be a good reason to want them to do it.

[R.R.]

The answer is that there is no government solution to this. All a federal government should do is give the conditions to allow businesses to thrive such as low regulations and low taxes and then get out of the way. They shouldn't be in the business of running businesses, such as Chris Dodd suggesting who the CEO of GM should be. All three automakers are losing billions per month. This $15 billion bailout is just a drop in the bucket. It's not going to be nearly enough. They will be back for more. And I don't think the American taxpayer should be propping them up. When you add in pension costs and healthcare, worker costs are double at the big three than their foreign counterparts that have American plants. GM has become more of a healthcare provider than an automaker. Failed businesses should be allowed to fail, no matter how big and lethargic they have gotten.

[R.R.]

XO and Knutey, the Dems got us into this mess by forcing banks to make loans to people who couldn't afford them. The last people in the world who should be running the auto industry are Barney Frank and Chris Dodd. They are both incompetent.

[Xavier_Onassis]

The government will have to take over the pension funds if GM and Chrysler go under. It will cost more if they go under.

You think Dodd and Frank are incompetent, and that they will be somehow running the auto industry. Neither of these "facts" is true.

The main reason cars are not selling is a lack of financing. The banks are not allowing people to borrow against the equity in their homes.

New cars in the US are often bought by people who do not actually need them, Faced with hard times, they are
simply not buying.

Watch and see, the Republicans will not filibuster anything. They don't have the votes, and at least some of them are too smart to do this. Not gonna happen.

[Amianthus]

All three automakers are losing billions per month.

Actually, Ford is not. They have a $24B losses in three years, so it's less than a billion a month. Also, Ford doesn't want actual cash, they just want a guarantee that they will have access to cash if they need it over the next year (if economic conditions get worse).

GM and Chrysler, however, are in much worse shape, and they want actual cash right now.

[Knutey]

XO and Knutey, the Dems got us into this mess by forcing banks to make loans to people who couldn't afford them. The last people in the world who should be running the auto industry are Barney Frank and Chris Dodd. They are both incompetent.

If you are referring the CRA , this is just another RW lie.Even the OC Register the most RW of RW newspapers knows this. Only y'all blind morons dont.

http://www.ocregister.com/articles/loans-subprime-banks-2228728-law-lenders#

Frank & Dodd would do a much better job running the auto companies than the Bushidiot did running the county.

   

[R.R.]

The government will have to take over the pension funds if GM and Chrysler go under. It will cost more if they go under.

That is spin that I have heard labor leaders say. The government has a pension guarantee fund that companies have to pay a premium into to protect against their own failure. It's more like an insurance policy funded by premiums paid by the company.

You think Dodd and Frank are incompetent, and that they will be somehow running the auto industry. Neither of these "facts" is true.

An appointment of a car czar is not running the auto industry?

The main reason cars are not selling is a lack of financing. The banks are not allowing people to borrow against the equity in their homes.

Most people don't have any equity in their homes.

This all comes full circle to Barney Frank and Chris Dodd. Their risky scheme to force banks to make bad loans to people who couldn't repay them has been a disaster. And yes, they are both incompetent. That is a fact. Chris Dodd himself should be under investigation for accepting a favored loan from Countrywide.

[R.R.]

Only y'all blind morons dont.

Let's leave the personal insults out of this, if you can.

Frank & Dodd would do a much better job running the auto companies than the Bushidiot did running the county.

Frank and Dodd don't have any experience running the auto industry, or any business whatsoever. So I have to say that I disagree with your idea to have them run it. They should both be kicked off their congressional committees.

[Xavier_Onassis]

There is no proposal to let Frank or Dodd run the auto industry.

Neither will be removed from his committee.

The Republicans will not filibuster this bill.

Most people probably DO have equity in their homes, but those that do are either not interested in buying a new car (my home is paid in full, and I will never, ever buy a new car or even a car on credit, for example), or they cannot borrow against it.

Only by doing this is the cost of the loan deductible according to the tax code.

[Knutey]

Only y'all blind morons dont.

Let's leave the personal insults out of this, if you can.

Frank & Dodd would do a much better job running the auto companies than the Bushidiot did running the county.

Frank and Dodd don't have any experience running the auto industry, or any business whatsoever. So I have to say that I disagree with your idea to have them run it. They should both be kicked off their congressional committees.

I said y'all so it wasnt personal 

You do however lie like a rock. You claim that most folks dont have equity in their homes when 84 % do.

At the end of March, nearly 8.5 million homeowners had negative or no equity in their homes, representing more than 16 percent of all homeowners with a mortgage, according to Moody’s Economy.com Chief Economist Mark Zandi. By June 2009, he estimates that will increase to 12.2 million, or almost one out of every four homeowners with a mortgage.

http://www.msnbc.msn.com/id/24988315/

So you either lie or are stupid like your hero the Bushidiot. You dont have a clue. You just regurgitate Rushisms.