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This is great news. Now maybe they'll file for bankruptcy and reorganize without wasting taxpayer money.
They never should have been given them taxpayer money (our money) to begin with! Now, our government is in control of the company and can even tell a private citizen to step down from his job. This IS Socialism....and it will almost certainly get worse. Companies should be allowed to fail and restructure under BK rules. Our government should have never gotten involved by giving taxpayer's money to them. Now we taxpayers are on the hook for what the government did [on our behalf]. BAD!!!
The way it stands now Obama and his administration are making decisions on whether the auto-makers should live or die. The government is incapable of doing this! This is a decision that should be made under bankruptcy laws with bankruptcy court procedures. This whole thing is absurd!!!
Next Obama and his administration will be determining whether you should have surgery or medication instead of a medical doctor/surgeon.
This is what happens with Socialism. It's CRAZY!!!
They are now making Obama and the Dems out to be the heros? These are the people that gave them billions in the first place. What ever happened to filing for bankrupcy
I heard that Obama was going to give them money, just not as much as they requested and AGAIN request that they restructure? Is this true? WHy didn't they just let them file for bankruptcy? All the stuff they were trying to stave off (suppliers going out of business etc) is STILL happening. Put it to death already. I find it interesting that Obama fires Wagoner but doesn't fire the head of the AWU, which is apparantly the real thing draining GM. Hmmmmm.
I heard that Obama was going to give them money, just not as much as they requested and AGAIN request that they restructure? Is this true? WHy didn't they just let them file for bankruptcy? All the stuff they were trying to stave off (suppliers going out of business etc) is STILL happening. Put it to death already. I find it interesting that Obama fires Wagoner but doesn't fire the head of the AWU, which is apparantly the real thing draining GM. Hmmmmm.
It sounds like Obama is again taking a populist platform and talking out of both sides of his mouth. One one side he is saying "Government doesn't want to take over the auto business", on the other side his administration is deciding to fire the GM CEO and the government will now cover car warranties ....on one side he is saying "no more bail outs, file for bankruptcy if you don't have a plan in 30 days (Chrysler) or 60 days (GM)" and on the other side he just gave them "adequate working capital" for this time span (no sure how much this is, the amount is cyrptically lacking in news reports, like a few billion more here and there doesn't matter anymore).
So what's he really going to do when he decides to finally make a decision? Who knows. Stock markets plummet again!
there are a couple of things to ponder here.
1. obama will give them operating capital although it is hard to find out exactly what those figures would be.
2. wagoner gets a severance package of 23 million for someone being forced to step aside. salaries and severance for top executives are so out of line with the wages of working americans that it is beyond ridiculous.
3. finally, why are we considering giving chrysler 6 billion dollars of american taxpayer money only when they are turned into an italian corporation?
this is all so absurd!
GM now stands for Government Motors...run by Dumbocrat politicians - continuing to destroy America as quickly as possible.
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