Bailout Nation, Part What?
I’m losing track now.
GM wants in on the action now.
This is a company that can’t sell cars that consumers want, has leadership that thinks Climate Change is a crock and:
Since GM CEO Rick Wagoner believes the oil spike was an act of God, however, it’s no wonder that GM and Ford were left flat-footed when oil prices rose to record highs.
Yes. Well. Perhaps GM failing because it can’t build and sell cars that consumers want, might be God sending a very serious message to Mr. Wagoner — Old Testament-style.
And the unfortunate thing is that Wagoner will likely get his wish — neither Presidential candidate or this current administration will deny a car company whatever tax dollars they want.
Tags: Bush's Fubar Economy
It just gets better and better.
Delaware Liberal is too big to fail. Where’s our check?
You know, Jason, I was just thinking about that.
But I think that if we are going to go for a bailout, it needs to be now, while Ruth Ann is at the wheel, because we’d never get this shit past Jack Markell.
Sorry.
You need to have a track record of being in favor of “free markets” and deregulation in order to qualify for the new American socialist handouts.
Can someone please point me in the direction of the bailout window? My business has been headed downhill for months. As long as all you taxpayers are handing out money I’d like to get some too.
General Motors should get no money as their dire situation and potential demise has nothing to do with the survival of the economy at large.
The key element here for people to take note of is the variable trust for employee health care is already positioned to fail.
A more mature look at the “bailout” of AIG.
The AIG situation is a touch more complicated. Here the Federal Reserve granted an $85 billion loan to take control of 80 percent of the group’s stock. Many saw this as a bailout and heckled the decision, but the reality could not be further from the truth. The Fed’s conditions were simple: We will grant you this loan so that you do not need to worry about stockholders’ demands (there will be no dividends) or liquidity ($85 billion should be plenty to keep AIG’s internal operations running no matter what happens in the wider market). In exchange, you will sell off the entire company within two years. The Fed intervened only to ensure that AIG’s massive insurance policies would not be abandoned (the group controls a half-trillion dollars’ worth of financial protection that it provides Wall Street firms and the biggest companies of Europe and Asia). The price for its assistance was the group’s utter liquidation. AIG, in effect, ceased to exist the day the “bailout” was announced. The Fed action simply keeps the body on life support until all of the body’s organs can be harvested.
from Stratfor
What I want to know is who’s going to bail out the US Treasury?
Didn’t you get the memo from Cheney?
Debt doesn’t matter…..
Only Cheney memos I read are the ones calling for his arrest and confinement in Gitmo.
Well now, I doubt he would put that out!
No…sure they are locked up in Addington’s safe
Along with the secret microphone from under Bush’s jacket during the debates!
Mike the Loser
That is so sweet. The fact is that AIG insured more bad loans than it could cover. So when those claims come due, who pays? The taxpayer. And selling the company sounds great, but when you sell it for pennies on the dollar it ain’t so sweet anymore. The free market had already priced the company. Many of the “organs” on life support are already dead.
Never trust repubs with money.
Thats my point anonone. The taxpayer is over extended and broke. In a depressed economy the tax base shrinks, so even an increase in taxes is unlikely to create additional funds for the Treasury. Where does the money come from?
Clinton found the sweet spot between tax rate and economic growth in `93. Obama will, too. Honest markets and tough regulatory enforcement will help, too.
Clinton did not have predecessors who spent $1 trillion on a bailout on their way out the door.
I have a far more pessimistic view of where these bailouts are taking us.
As long as we’re handing out checks – where’s my universal health care?
Clinton did not have predecessors who spent $1 trillion on a bailout on their way out the door
How much did th US spend on bailouts for the benefactors of the Keating 5