Big Three's Big Ask: $25 Billion
Here's the latest bailout:
Detroit’s beleaguered carmakers sought to present themselves as
lean, innovative and environmentally aware as they appealed to Congress
for $25bn (£16.8bn) in emergency loans on Tuesday.Nancy
Pelosi, Democratic House leader, said she had not yet reviewed the
plans, but wanted to see a commitment to the future with an overhaul of
business models that incorporated viability, accountability and
innovation.
Read the rest here.
- FILED UNDER: Finance, big three, big three bailout
- December 2, 2008
Just stop with the bullshit.
Don't try to feed me viability, innovation and accountability crap when you have given more than ten times the amount these guys are asking for to your rich banker corporate masters without requiring them to grovel before the CSPAN cameras.
Stop the bullshit on both sides. Stop fucking with American automotive viability by stringing these companies out while consumers are concerned they are getting ready to purchase an Edsel. Try to find parts for a car whose manufacturer no longer exists.
Pelosi needs to go. She is nothing but a white collar corporate shill who has taken it upon herself at the behest of her corporate masters to ignore our constitution and deprive millions of suffering Americans the justice our constitution demands.
Then she turns around with her plastic smile telling us how much accountability is important to her. This Republican needs to go.
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By AntillectualDecember 2, 2008 - 6:25pmi wanted to chime in on the
i wanted to chime in on the day oil hit $40 a barrel as i predicted back when no one thought it would go below $80. my other prediction was the dow falling to 4000 - 4500. when the oil companies and their related industries fall to the levels of the financials, auto-makers, technology the dow should be damn close to 4000. oil companies are only now in the process of shutting down all drilling programs and capping wells. keep in mind oil generally has a 18 - 24 month bust to boom cycle, but then again this is a perfect shit storm of a "fundamentally sound" economy.
as for detroit; ceos are bound to their shareholders, midwest politicians are bound to automakers, and the rest of the politicians are bound to oppose these special interests. if we should choose to protect detroit it should be done on the premiss of protectionism. because foreign auto-makers have done the same. then it comes down to which government can pour the most money into a bloated dinosaur. i would prefere to let any company die a natural death, in the darwinian way. it's best to suffer greatly all at once and get it out of the way. offer billions to a fresh, young genius with a prototype everyone would want but he can't get produced. i know there are many of those types out there.
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By commiecakesDecember 6, 2008 - 7:13am