Fatso Posted September 15, 2008 Share Posted September 15, 2008 (edited) Watching the stock market take a nosedive.This is going to affect many white collar types.People who buy into 'appearances' and believe that they are above the hardships that blue collar types may face because they {white collar}went to college.Makes me glad I am in the UAW.Wall street executives and lawyers and politicians steal money in a very complicated way.This current crisis will give Bush/Cheney an oppurtunity to hand out some more Corporate Welfare at taxpayer expense.I think the government should 'piss test' the board members of any corporation who wants Corporate Welfare. Edited September 15, 2008 by Fatso Quote Link to comment Share on other sites More sharing options...
lackanookey Posted September 15, 2008 Share Posted September 15, 2008 Watching the stock market take a nosedive.This is going to affect many white collar types.People who buy into 'appearances' and believe that they are above the hardships that blue collar types may face because they {white collar}went to college.Makes me glad I am in the UAW.Wall street executives and lawyers and politicians steal money in a very complicated way.This current crisis will give Bush/Cheney an oppurtunity to hand out some more Corporate Welfare at taxpayer expense.I think the government should 'piss test' the board members of any corporation who wants Corporate Welfare. I am sure that this is somehow the UAW's fault. After all we, the UAW members, are to blame for all the nations problems! Quote Link to comment Share on other sites More sharing options...
lackanookey Posted September 15, 2008 Share Posted September 15, 2008 all jobs gone overseas in 5 years!! Five years? Maybe sooner. The masses will be left to sell hambugers and imported flat screen tv's to each other. Quote Link to comment Share on other sites More sharing options...
Fatso Posted September 15, 2008 Author Share Posted September 15, 2008 (edited) I guess the Treasury Secretary has said no way will he bail out AIG/Lehman but then the Mayor of New York said the company can give itself a bridge loan.These screw ups are way over my head.If the stock market were to crash and the government declares martial law then the C.I.a releases the Bird Flu virus they have been stockpiling.EXCELLSIOR!Then you will see how primal and savage a human being becomes when we are competing for our own survival.A soccer mom will just be somebody who gets 'punched out' for running their mouth about Oprah the Magazine!Keep Smilin!This is what happens when banks advertise No money down,no problem.Hard to verify income {huh?}no problem.A cocktail waitress in Las Vegas got a 300k loan to buy a house.Wonder how come she was unable to verify her major source of income?Bottom line is honest taxpayers and honest people in general pay their own way on top of bailing out this sub-prime mess.I am voting Obama because I want everything free,too! Edited September 15, 2008 by Fatso Quote Link to comment Share on other sites More sharing options...
lackanookey Posted September 15, 2008 Share Posted September 15, 2008 I guess the Treasury Secretary has said no way will he bail out AIG but then the Mayor of New York said the company can give itself a bridge loan.These screw ups are way over my head.If the stock market were to crash and the government declares martial law then the C.I.a releases the Bird Flu virus they have been stockpiling.EXCELLSIOR!Then you will see how primal and savage a human being becomes when we are competing for our own survival.A soccer mom will just be somebody who gets 'punched out' for running their mouth about Oprah the Magazine!Keep Smilin! Is the bridge loan coming from the American General life insurance co. that they own? And if so, how will they continue to pay out life insurance benefits in they treat American General's assets a fund to save parent co. AIG? Quote Link to comment Share on other sites More sharing options...
lackanookey Posted September 15, 2008 Share Posted September 15, 2008 Is the bridge loan coming from the American General life insurance co. that they own? And if so, how will they continue to pay out life insurance benefits in they treat American General's assets a fund to save parent co. AIG? I meant to say, how will they continue to pay out life insurance benefits if they treat American General's assets as a fund to save AIG? Quote Link to comment Share on other sites More sharing options...
jeg74 Posted September 16, 2008 Share Posted September 16, 2008 Watching the stock market take a nosedive.This is going to affect many white collar types.People who buy into 'appearances' and believe that they are above the hardships that blue collar types may face because they {white collar}went to college.Makes me glad I am in the UAW.Wall street executives and lawyers and politicians steal money in a very complicated way.This current crisis will give Bush/Cheney an oppurtunity to hand out some more Corporate Welfare at taxpayer expense.I think the government should 'piss test' the board members of any corporation who wants Corporate Welfare. Shit rolls down hill buddy! Guess were we are standing? Were do you think Ford got the loans when they "Hauked" The Blue Oval for thier Way Foward version 3.0! Quote Link to comment Share on other sites More sharing options...
TheScrutenizer Posted September 16, 2008 Share Posted September 16, 2008 Shit rolls down hill buddy! Guess were we are standing? Were do you think Ford got the loans when they "Hauked" The Blue Oval for thier Way Foward version 3.0! From investors and private banks. Quote Link to comment Share on other sites More sharing options...
Fatso Posted September 16, 2008 Author Share Posted September 16, 2008 (edited) Is the bridge loan coming from the American General life insurance co. that they own? And if so, how will they continue to pay out life insurance benefits in they treat American General's assets a fund to save parent co. AIG? It is complicated and I could be wrong but I believe a bridge loan is sort of like when you mortgage your own assests.Like an equity loan but I believe the money is going to come indirectly from in AIG`s case the State of New York.PROGRESSIVE INSURANCE is a brand sold by AIG.Now we see how these executives lose money.They spend it on fancy advertising put out by an ad agency run by someone`s brother in law.Ever see the T.V. show Mad Men?Sex and decadence and status .Classy thieves these Wall Street types."The billions of $$$$$ are just-gone"Find an honest blue collar type earning a paycheck and call him 'rich' then raise his/her taxes! Edited September 16, 2008 by Fatso Quote Link to comment Share on other sites More sharing options...
Fatso Posted September 16, 2008 Author Share Posted September 16, 2008 Shit rolls down hill buddy! Guess were we are standing? Were do you think Ford got the loans when they "Hauked" The Blue Oval for thier Way Foward version 3.0! Business editor for the Detroit News said that this current banking/insurance crisis will make it harder for the Big Three to get Federally subsidized loans to retool for smaller cars.It is a complicated situation and it is very fluid and yes I agree with you the taxpayer will eventually pay and employees will lose their jobs and pensions. Quote Link to comment Share on other sites More sharing options...
Fatso Posted September 16, 2008 Author Share Posted September 16, 2008 (edited) From investors and private banks. That may be true but here is the problem for Ford.Their credit rating is low so interest rates are higher for them.I hope that Government loan comes through.Congress likes it.The Senate likes it.Bush don`t like it but could he veto it during an election year?It is scary when I think about who are the faceless people that run the banks in the USA.On this planet most humans are pagans or Humanist which means that $$$$$$ is GOD to the vast majority Edited September 16, 2008 by Fatso Quote Link to comment Share on other sites More sharing options...
TheScrutenizer Posted September 16, 2008 Share Posted September 16, 2008 That may be true but here is the problem for Ford.Their credit rating is low so interest rates are higher for them.I hope that Government loan comes through.Congress likes it.The Senate likes it.Bush don`t like it but could he veto it during an election year?It is scary when I think about who are the faceless people that run the banks in the USA.On this planet most humans are pagans or Humanist which means that $$$$$$ is GOD to the vast majority Here's the historical problem. Most industries are subsidied in many ways in foriegn countries. Not so good ol USofA. So in addition to trying to keep up with market demand for everything automotive, there's regulatory compliance, like NHTSA and EPA and so forth, as well as rampant litigation (most other countries have standards for product liability that limit claims and settlements). These factors are all drains on capital. Now, everyone expects the automotive industry to single handedly solve the entire energy crisis. Other than to produce petroleum based fuels to specific standards mandated by the government, the petroleum industry has no obligations whatsoever. The auto industry is saddled with all the research and developement responsibility. It would seem to me, that with all of the economic dependence on the automobile to provide basic transportation in this nation(and the current petroleum based fuels), it would be in the national interest, to spread some of that burden out across a few of the other players in the game. So my point is that it is entirely reasonable for the government assist in some way to develope workable, economical, and manufacturable (is that a word?) solutions to what is a national/global problem. Those of us who have been in this business more than a few years realize that the first thing to get the axe when money gets tight is the working man. When the government increases regulation, the companies cut heads. When commodity prices increase, they cut heads. The last thing they do is raise prices on the product, but that eventually happens too. So having the government (taxpayer) subsidize research and developement of new technologies with low interest loans and or gaurentees benefits the taxpayer by A) helping to keep thousands off the unemployment roles, B) alternative technologies are developed faster shortening the present energy duress, and C) consumers will eventually have access to safe, clean, economical transport. Oh, and colleges and universities benefit with colaborative projects and grants for basic research. Your results may vary. Quote Link to comment Share on other sites More sharing options...
fmccap Posted September 16, 2008 Share Posted September 16, 2008 It is complicated and I could be wrong but I believe a bridge loan is sort of like when you mortgage your own assests.Like an equity loan but I believe the money is going to come indirectly from in AIG`s case the State of New York.PROGRESSIVE INSURANCE is a brand sold by AIG.Now we see how these executives lose money.They spend it on fancy advertising put out by an ad agency run by someone`s brother in law.Ever see the T.V. show Mad Men?Sex and decadence and status .Classy thieves these Wall Street types."The billions of $$$$$ are just-gone"Find an honest blue collar type earning a paycheck and call him 'rich' then raise his/her taxes! The Crime In Buying AIG Time My Comment: This a a glaring and galling mistake. Why even bother having regulators if they are purposely going to allow the breaking of rules like this? Quote Link to comment Share on other sites More sharing options...
Fatso Posted September 17, 2008 Author Share Posted September 17, 2008 (edited) I wonder what the executive compensation was like at AIG while they were 'losing' :happy feet: money?Bush/Cheney say they stand in principle for lower taxes then grant corporate welfare to their cronies on Wall Street.Oh well I guess the middle class will continue to pull the wagon as far as accountability goes and be totally neglected in the process.'GIDDY-UP MULE' ,Pay your Taxes! with the money you save on Progressive Insurance you can buy a BIG TRICKED OUT government sponsored corporate welfare program!Go back to sleep people nothing to see here! Edited September 17, 2008 by Fatso Quote Link to comment Share on other sites More sharing options...
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