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Now that is something I can agree with. It is something the previous administration and Democrats in Congress should have done to begin with, but instead thought it would be more fun to throw money at the problem first then ask for a plan...
Obama plans to do the opposite, receive the plans, then offer assistance. And while I oppose bailouts, at least in this case we have a better chance of the money actually doing what it is intended to do.
+1 for Obama
To bad about the market response to this announcement.. So much for the upward trend
You think this is right??? It isn't right! The government telling private business what to do? This is totally unconstitutional (and of course, so is the bailout). He asked Wagoner to resign! How can the "President" of the United States ask the CEO of GM to resign?
This goes right along with going after the bonuses paid based on a legal contract.
Our government is out of control, and it is time to make your voice heard loud and clear!
So do i, but your going to get those die hard haters that will still have something vile to state about this. The bottom line, the failure of the auto industry will not only impact the workers, but their suppliers/creditors and ultimately the tax payers. But of course again die hard haters will still spew venom no matter what.
This isn't about "hate". It's about the Constitution, and Law!
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.
A company that goes bankrupt does not mean that the stocks are worth $0...
Who buys cars from companies in bankrupt? Probably the same people buying cars now, and the same who bought airline tickets in USAir when they went under and shopped at Kmart when they filed bankruptcy..
I concur that the market is a terrible way to make decisions, however if the market is bad, individuals do not have money to spend that invest in the market.
This isn't about "hate". It's about the Constitution, and Law!
Corporations are pretty outside the bounds of the framework the founding fathers originally put together, so you might want to reserve the constitution/law argument for another time.
Corporations are pretty outside the bounds of the framework the founding fathers originally put together, so you might want to reserve the constitution/law argument for another time.
Do you think big companies did not exist in the 1500's? I'm sure the boat builders and tea traders would disagree with you. Were they as large as our corporations today? No, but neither was the population.
You think this is right??? It isn't right! The government telling private business what to do? This is totally unconstitutional (and of course, so is the bailout). He asked Wagoner to resign! How can the "President" of the United States ask the CEO of GM to resign?
This goes right along with going after the bonuses paid based on a legal contract.
Our government is out of control, and it is time to make your voice heard loud and clear!
I'm grateful people like yourself do not control my purse, nor are you permitted to make sweeping decisions that affect large groups of people. Defense of the constitution by exploiting it the benefit of private monopoly? How sick, how ignorant, how twisted with entitlement corporate welfare queen could you possibly get???
You're irrational, unwilling to educate yourself, entitle yourself to overstep your bounds by infringing on the rights of the majority. You have no valubable contribution to this subject beyond what every american should guard themselves against if they mean to defend healthy free markets, our constitution, and true liberty (not indentured servitude on a global scale).
The most inefficient organization in the country trying to run a business that they have no idea how to run and telling them they need to make deeper cuts... Is there an entity in the world that needs to make deeper cuts and stop wasting money than the US government?? This is like an 800 pound man giving diet tips to a 300 pound man..
Do you think big companies did not exist in the 1500's? I'm sure the boat builders and tea traders would disagree with you. Were they as large as our corporations today? No, but neither was the population.
I'm not going to sit here and educate you, the founding fathers had very very strict guidelines for what corporations could and could not do. Corporations gained more and more freedom overtime by getting lawyers to bend laws and amendments to suit their purposes (for example the 14th amendment was used to grant all kinds of rights to corporations since they are defined as a legal person).
There is a section in the beginning which describes how corporations have gained the level of power they have in modern time and what restrictions existed in creating/owning a corporation in the 1800s.
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