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I'm sure everyone who has lost money in the stock market today would disagree with you.
Obamas job isnt to publicly discuss the viability of PRIVATE companies.. He has a job to sit on the sideline and simply say that there will be no more bailouts (which would be great), and let the private markets determine the viability of GM and Chrysler, but to come out openly and cause an economic collapse is over the top, especially for a president.
I almost think he's causing the drop of the dow on purpose, no one qualified to be president can be this stupid.
I'm sure everyone who has lost money in the stock market today would disagree with you.
Obamas job isnt to publicly discuss the viability of PRIVATE companies.. He has a job to sit on the sideline and simply say that there will be no more bailouts (which would be great), and let the private markets determine the viability of GM and Chrysler, but to come out openly and cause an economic collapse is over the top, especially for a president.
I almost think he's causing the drop of the dow on purpose, no one qualified to be president can be this stupid.
I can't agree with you on this one. Had it been announced that the government simply was not giving anymore bailout and then GM later stated that they were filing Bankruptcy, can you honestly say that the market wouldn't have gone done. At what point has Obama caused an economic collapse? Friday the DOW went down 175pts(+ or -) today it went down another 120pts. It was worst than this when the announcement of the Banks last year, so lets stop saying that he caused, especially purposely an economic collapse.
I can't agree with you on this one. Had it been announced that the government simply was not giving anymore bailout and then GM later stated that they were filing Bankruptcy, can you honestly say that the market wouldn't have gone done. At what point has Obama caused an economic collapse? Friday the DOW went down 175pts(+ or -) today it went down another 120pts. It was worst than this when the announcement of the Banks last year, so lets stop saying that he caused, especially purposely an economic collapse.
Everytime Obama (or any president) proclaims governmental interferance in private businesses, the market goes down.
Investors dont like seeing that their investments will be diluted or that the CEOs that are running companies that they have invested in will be fired by those who represent the government.
I'm sure everyone who has lost money in the stock market today would disagree with you.
If they care about propping up failing organizations that are trying to drain taxpayer money because their portfolio is tanking they can **** themselves.
If it wasn't for gov't interference then all those companies you've mentioned would have wiped shareholders out months ago.
“We cannot and must not, and we will not let our auto industry simply vanish,” the president said at the White House, announcing new and final deadlines for the No. 1 and No. 3 U.S. automakers to remake themselves. “We cannot continue to excuse poor decisions. We cannot make the survival of our auto industry dependent on an unending flow of taxpayer dollars.”
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Obama said the government “has no interest or intention or running GM. What we are interested in is giving GM an opportunity” to emerge from its financial crisis.
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Obama said he was also using the government’s $787 billion stimulus program to accelerate purchases of government cars and would work with finance companies to increase credit to consumers and dealers. At the same time, the Internal Revenue Service will conduct a campaign to alert consumers of a new tax benefit for auto purchases made between February 16th and the end of this year. It may lead to as [many as] 100,000 new car sales, the president said.
If it wasn't for gov't interference then all those companies you've mentioned would have wiped shareholders out months ago.
I guess you dont think people who bought stocks for $30, now worth $2 is being wiped out, the only difference with this is they pulled the rest of the market down, not just individual companies...
p.s. just because a company goes bankrupt, this does not mean that there is no shareholder value, it allows companies to reoganize debt and while it severly dilutes the value until the company comes out of bankruptcy, this is what we have going on today.
"Fascism should more appropriately be called Corporatism
because it is a merger of State and corporate power." Benito Mussolini
And that statement right there cuts to the heart of GOP infighting because true conservatives had the grace to realize that tilting grace and favor too much to oligarchy creates an unhealthy relationship enslaving the masses and destabilizing the very host country that business counts on to lay it's foundations. Neo cons are completely unwilling to see that responsibility, and blatantly abregate it via deregulation and privatization. They take it to the point where china would determine our elections when they purchase diebold computer architecture.
Sure, the big 2 plus whatever's left can take care of that themselves.
Would they have taken care of that themselves, all this would be moot, correct?
Whatever actions government involvement with the issue take have clear objectives of restoring the auto industry to viability. This is their last shot to get it right, or be pushed out of the market entirely by global free market. Blaming the mule for the direction its been steered wrongfully isn't going to cut it anymore. Sorry.
I guess you dont think people who bought stocks for $30, now worth $2 is being wiped out, the only difference with this is they pulled the rest of the market down, not just individual companies...
p.s. just because a company goes bankrupt, this does not mean that there is no shareholder value, it allows companies to reoganize debt and while it severly dilutes the value until the company comes out of bankruptcy, this is what we have going on today.
2 dollars is better than 0 dollars. And in the case of a car company bankruptcy is a death knell. Who is going to buy a car from a company that's bankrupt? Who is backing the warranties at that point, the government?
P.S. I've stated many times that I don't care about the market because it's a terrible way to make decisions.
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