Quote:
Originally Posted by BentBow
How did Ford do it?
|
I'd have to do some major research .. again.. but Ford was in better financial shape, think they had gotten some huge loan before the crash - that's what I THINK I rermember, but not 100 percent sure. Chrysler can go DIAF.
So can GM. I never said they should've been bailed out. I just said that write up in that article made it sound like it was Joe's Fishbait market going bankrupt, and it's in a whole 'nother world. Cash for Clunkers was totally F'ng stupid, too. What about people who don't buy new cars? **** you, that's what.
https://www.city-data.com/forum/busin...-chrysler.html
*****************************
GM, Ford, Chrysler Want Emergency Aid : NPR November 11th - need 25 billion. Feb 17th - need 39 billion.
GM, Chrysler now say they need billions more | Freep.com | Detroit Free Press (http://www.freep.com/article/20090218/BUSINESS01/902180393/1014/GM++Chrysler+now+say+they+need+billions+more - broken link)
In 3 months, they figured out they need 14 billion more dollars. Bullspit. They know what they needed. It's that "trickle" crap that banks pull. "Oh, we're only going to write off 10 million...ermm 40 million, ermm 480 million." This is a slap in the balls. I mean seriously. The recession has been going on for a WHOLE YEAR. And you're telling me that they've just gotten around to figuring out how much they need to survive? That they need to cut costs? That the **** is gonna hit the fan? Ok. Let's go with it. Let's say they are really that stupid. Why would you give stupid people 39 billion dollars? That doesn't make sense.
************************************
As for Chrysler:
Cerberus bought
Chrysler May 14, 2007.
Cerberus controls GMAC. GMAC was originally created to be an auto finance company. Cerberus (GMAC) basically stopped loaning money to GMC customers. Whaddya know, this had an impact...the company collapsed.
Q&A: Under the Hood of the Chrysler Deal : NPR
GMAC "Tightens" Lending Policy; Domestics' Car Loan Cash Drying-Up | The Truth About Cars
http://www.autonews.com/article/2008...NA03/811240306
Cerberus took a calculated risk less than 2 years ago, failed to read/foresee the market and FAILED AT THEIR GAMBLE. This is NO DIFFERENT than paying for someone's gambling losses, except it's on a larger scale.
******************
And now GMAC, which failed because basically Cerberus walked away like it was a bad mortgage, is known as Ally Bank. GMAC = which by political magic turned itself into a "bank." so it could get a bailout.......how the hell did that happen???
Who's on Cerberus board of directors?
Who's DAN QUAYLE
http://www.nndb.com/people/781/000024709/
Whos's JOHN SNOW
http://www.nndb.com/people/437/000032341/
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
