Auto industry bailout: yes or no?


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dwreese182 is offline dwreese182 Post #91  December 14,2008, 9:35am
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Smitty332,379396 wrote :

dwreese182,378922 wrote :


Who cares who is for it. It is the concept of buying someone out of debt for bad financial decisions. They went behind closed doors to talk about it, no worries, a deal has been struck with our tax dollars behind our backs. There will be a bail out of some scale, we just don't know, yet.


Others have been bailed out for worse decisions i.e. AIG and lenders. They didn't have to submit any pans either. Bad decisions sure but the stinkin economy and high gas prices also had an impact...this was out of their control. Now don't get me wrong, my tax dollars are precious to me BUT I'm nottrying to experience the ripple/tsunami from throwing that big rock in the pond.
So two wrongs make a right? You also have to look at when the government bailed out the financial companies. It was in the middle of an election and neither party wanted to be responsible for ANY type of economic kick back from turning down that bail out. Did that make it right? No.


From what I have heard this is not technically a "bail out" like the last one. This is to be a loan . To me this makes even less sense. What do they have as collateral? Their stocks? Their cars? Well guess what, if they go bankrupt then all that is worthless, they have nothing to use to pay back the loan. I don't think ANY loan officer would even consider giving YOU a loan under these circumstances. As far as the "ripple/tsunami" from that big rock, yeah maybe things would get a little worse but I say let the free market work. Someone will step up and produce some American made cars and provide it to the masses. Yeah, it might take a decade or so, but I think the foreign car companies can hold out and produce some extra cars for us over here. I will miss my Dodge Dakotas though. Mine has been one of the best vehicles I have ever had. +100k miles and not a single problem (yet). Small truck, big engine, great design, love it. Psst, I'm a fossil fuel junky myself, love the sound of a V8 with a good exhaust system. LoL


I do, however, agree with HeatherQJ that we need to decrease our dependency on oil 100%. Ethanol is bad too, but I think we have it within our technological knowledge to develop a car that runs on basically nothing (I watched a video of a guy that learned how, accidentally, to burn salt water with some crazy machine he developed). The oil industry would HATE that though, so they won't allow that to happen. The Big 3 have proven themselves unable to adapt and make financially sound decisions. The have no business being in business. And haven't other big businesses filed for bankruptcy and came out of it? I don't think it signifies the death of a company, just some hard times.


I have to disagree that we shouldn't go Nuclear though. It is clean, efficient, and SAFE. People just get a little scared when they hear that N word lol. All nuclear power plants do is control nuclear reactions to superheat water which in turn powers a turbine. Not to mention the Navy has used this technology to power some of it's ships for over half a century incident free. If an 18 year old kid can join the navy and go to a 2 year school to make this happen then I don't see why the civilian sector can't do the same. I'm not saying nuclear powered cars or anything, but electric cars that get their power from clean (non-fossil fuel) providers.
 
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pinz is offline pinz Post #92  December 19,2008, 4:30pm
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So, it's official. The Executive Branch of the out-going Bush presidency has ponied up 17.4 billion.


...sigh ... 'tis a very sad day for America ... and Canada too, our stupid government said it will 'cover' 'our share' of the Big 3 automotive sector here ... sigh ... it's just giving the government an on-going reason to TAX us from 'birth to death'...


And I agree with Heather. Overall, this 'bail-out' is a 'power play' to protect the interests of the few.


The oil oligarchy will NOT go down quietly. There is just too much of the world's economy tied up with it. Don't forget the Saudi's are in bed with the Bush Administration ... Who knows how Obama will DEAL with THAT. He may be over-lobbied on any kind of new 'forward thinking' energy policy ...
 
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dito is offline dito Post #93  December 23,2008, 5:45am
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Obama is just more of the same, unfortuantely. Remember he's been for every single bailout. Now he's for a "stimulus plan" that we cannot pay for
 
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