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Actually Fortune magazine had really article in the late 1990s that detained GM cash flow, pension and product problems. It wasn't really a big surprise that when the economy tanked the major auto makers where going to be in financial distress. The average American in most cases lacks the financial wherewithal to understand the degree of GM's long term problems.
The only thing that was in danger of failing was the UAW. Yes, Ohio and the nation would be much better off without the UAW.
Explain to me in the greatest economic downturn since the Great Depression, which included credit markets that had essentially seized, whose was going to buy the assets of GM and Chysler and who was going to provide the additional financing needed for the working capital necessary to run those companies?
Explain to me in the greatest economic downturn since the Great Depression, which included credit markets that had essentially seized, whose was going to buy the assets of GM and Chysler and who was going to provide the additional financing needed for the working capital necessary to run those companies?
That is a matter for a bankruptcy court to decide, not the White House.
AMERICAN WORKER - American citizen or legal immigrant available to be or already employed in America.
FWIW - Mitt Romney, as leader of Bain Capital, bet against the American Worker and WON a lot of money while causing severe economic pain to the communities and people he robbed.
FACT: There was no private money to rescue GM or Chrysler so they would have been liquidated (perminently closed down and their assets sold off)
FACT: This WOULD have resulted in virtually all auto parts supplier companies in the country going bankrupt. That would have meant even companies like Ford, Toyota, Nissan, and Honda having to shut down production due to lack of parts. This is why those companies supported the government reorganization of those two companies.
Those are facts, not opinions, and anyone who denies those facts are full of fecal matter. Yes, Obama really did save the American auto industry even if some people are unhappy that it happened.
If we had let the auto industry fail as Republicans wanted, would Ohio be better off today than it is now?
Your premise is wrong if you are talking about GM. The Republicans against a bailout wanted a managed bankruptcy which eventually is what happened but only after all of that taxpayer bailout money was poured into it.
Again, it was another rookie executive mistake and it cost us a lot of money.
Quit electing Senators for the job of President with no executive (governor, businessman, big city mayor, head of a large non-profit, general) experience...that would have included McCain, too.
Oh bull crap.. The auto industry was no different than the banking industry since the auto companies held so much paper..
If you support the auto bailout, but opposed the banking industry bailouts, your a hypocrite..
I was for the bank bailouts because i'm not so stupid that i'd rather have a depression instead of a bad recession just to make a political point.
A depression would be devastating to me AND especially YOU!! (and don't pretend that it wouldn't be)
Quote:
Originally Posted by Think4Yourself
FACT: There was no private money to rescue GM or Chrysler so they would have been liquidated (perminently closed down and their assets sold off)
FACT: This WOULD have resulted in virtually all auto parts supplier companies in the country going bankrupt. That would have meant even companies like Ford, Toyota, Nissan, and Honda having to shut down production due to lack of parts. This is why those companies supported the government reorganization of those two companies.
Those are facts, not opinions, and anyone who denies those facts are full of fecal matter. Yes, Obama really did save the American auto industry even if some people are unhappy that it happened.
You're talking to a wall...these folks refuse to listen. In truth, the know what you're saying is true, but they feel safer spouting off at the mouth now that the deed has been done.
Quote:
Originally Posted by TrapperJohn
Does anyone still live in Ohio?
Buckeyes are alive and well. I was there not too long ago in Massillon and had a great time with my family.
Quote:
Originally Posted by bluesjuke
It wouldn't have failed and Republicans didn't want it to.
That's an absurd statement.
Yea, it would have failed, and no, Republicans didn't want it to fail, but they now want to sound as if they were willing to let it fail just to make a political point. ANY Republican president would've bailed out the auto industry. It's a big ass lie when they say they wouldn't have. In fact, Bush signed the first bailouts.
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