Auto Bailout Compromise Reached

[GregW]

I do not want the government to loan money to the auto companies. I want the government to purchase ownership in these companies and, through the BOD have some control over how the money is spent. We should have done this with the bank bailout as well. Giving money to financiers is like giving whiskey to an alcoholic. Not the smartest thing to do.

[texdav]

Letting the governamnt own/run any business is crazy.; Look at the deficit;they went bankruprt decades ago.Ther now selling their children future to stay afloat.

[GregW]

The huge deficit is directly attributable to your conservative hero Ronnie Raygun. Instead of taxing Americans to pay for his "bust the USSR" policy he borrowed us into irrecoverable debt. The rest of the Republican conservative presidents followed down this road to ruin.

We need government representation on all corporate boards if we are ever going to prevent this rip off from happening again. You cannot trust financiers with free money just as you cannot trust a drunk with free drinks. We need government accountants on the boards to prevent market manipulation such as hidden monopolies, insider trading and direct management theft.

[floridasandy]

Originally Posted by GregW

I do not want the government to loan money to the auto companies. I want the government to purchase ownership in these companies and, through the BOD have some control over how the money is spent. We should have done this with the bank bailout as well. Giving money to financiers is like giving whiskey to an alcoholic. Not the smartest thing to do.

i want the government to keep their dirty little hands off things from now on, but that is not going to happen. you are saying that if the automakers fail then the united states taxpayers should be forced to fail as well. there is no guarantee that this will work as GM lost 6.9 billion in the 3rd quarter, our economy is starting to tailspin, and there will be way fewer jobs starting after christmas. why should taxpayers assume the risk for this probable failure? furthermore, why should taxpayers have to invest in GM when they are trying to buy more of SAIC (their chinese partnership with GM) while stating that they are broke. they might just outsource these jobs to china eventually to save money.

Never in US history was the Federal Government able to take control of banks, insurance companies, automotive industries and the education system by confiscating trillions of the money of the American people.

[Lulu101]

Well, after 300 billion given to Citi how could they not bail out the autos? 25 billion sounds like chump change compared to that.

The problem is they are bailing out crap companies--does anyone really believe these places are going to change how they do things?