RangerM Posted December 12, 2008 Share Posted December 12, 2008 Link to article Facing the potential bankruptcy of iconic American firms, President Bush on Friday abandoned his longstanding objection to using using the Wall Street bailout fund to help save G.M., Ford and Chrysler. A frustrated Republican congressional official said: "If only they had said this last week, we could have saved ourselves a full week." Ten hours after the Senate rejected a separate lifeline for the automakers, White House Press Secretary Dana Perino said in a statement it would be "irresponsible" to let the companies crash. So she said Bush will "consider other options," including the $700 billion Troubled Assets Relief Program that Congress created for the Treasury Department in October. "Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms," Perino said in a statement. "However, given the current weakened state of the U.S. economy, we will consider other options if necessary – including use of the TARP program — to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time." Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted December 12, 2008 Share Posted December 12, 2008 A frustrated Republican congressional official said: "If only they had said this last week, we could have saved ourselves a full week." Depending on how he Voted, they could have this taken care of last night :rolleyes: Quote Link to comment Share on other sites More sharing options...
RangerM Posted December 12, 2008 Author Share Posted December 12, 2008 Depending on how he Voted, they could have this taken care of last night :rolleyes: I see it differently. The TARP funds come with NO STRINGS ATTACHED. As far as I am concerned, that is the Big 3's one (and only) chance. They get one, and no more. (No, I'm not naive enough to think the Dems will not provide the funds, but they'll add so many caviats, it'll truly result in failure, and evermore funding.) Ironically, I'd bet that many autoworkers (out of a pure sense of entitlement) will still s#!^ on Bush for it. Quote Link to comment Share on other sites More sharing options...
goinbroke2 Posted December 12, 2008 Share Posted December 12, 2008 Another case of "you blink first....... no you blink first" They are trying to squeeze every last option out of the 3 before handing over the money. I'm totally disgusted with the american government. Quote Link to comment Share on other sites More sharing options...
silvrsvt Posted December 12, 2008 Share Posted December 12, 2008 Another case of "you blink first....... no you blink first" They are trying to squeeze every last option out of the 3 before handing over the money. I'm totally disgusted with the american government. They did the same thing when they did the bail out for the banks, except that more fear mongering was used to pass it because the Stock Market went down 500 points or something the next day. Credit markets are still fucked and the auto manufactures are prob going to be still fucked after everything is said and done. Quote Link to comment Share on other sites More sharing options...
theoldwizard Posted December 12, 2008 Share Posted December 12, 2008 I see it differently. The TARP funds come with NO STRINGS ATTACHED. Don't bet on that ! My gut tells me different. Chrysler/Cerberus will not be able to meet what ever requirements are on the table. The loan will be just enough to get GM to the inauguration. Chrysler will go Chapter 7. Quote Link to comment Share on other sites More sharing options...
JasonM Posted December 12, 2008 Share Posted December 12, 2008 how ironic, the UAW has trashed Bush for years and now they come groveling to his feet, and the feet of the taxpayer. Quote Link to comment Share on other sites More sharing options...
DUCKRACER Posted December 12, 2008 Share Posted December 12, 2008 I see it differently. The TARP funds come with NO STRINGS ATTACHED. As far as I am concerned, that is the Big 3's one (and only) chance. They get one, and no more. (No, I'm not naive enough to think the Dems will not provide the funds, but they'll add so many caviats, it'll truly result in failure, and evermore funding.) Ironically, I'd bet that many autoworkers (out of a pure sense of entitlement) will still s#!^ on Bush for it. I hope that is correct. No strings attached. I don't want Eco Nazis telling detroit what to build. But like what theoldwizard said, don't bet on it. Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 I'm totally disgusted with the american government. Welcome to the club... What else is new? :lol: Quote Link to comment Share on other sites More sharing options...
CSMJ Posted December 12, 2008 Share Posted December 12, 2008 Don't bet on that ! My gut tells me different. Chrysler/Cerberus will not be able to meet what ever requirements are on the table. The loan will be just enough to get GM to the inauguration. Chrysler will go Chapter 7. Your full of shit!!!! Bush wants to preserve his legacy he will not allow them to go under... And he only did it at last resort. The new Congress comes in Jan 6 and will pass a bill then with Veto proof majorities if not then come jan 21 they will pass it with ease and Obama will sign it either way no one is going bankrupt!!!!!!!! Dems will have a veto proof majority in the House and 58 senate seats. 7 new dems are coming in to replace 7 REPUBS that voted no on this bill so right there is 59 votes plus obama's seat and bidens seat =61 add on the other 10 repubs who voted yes and we get over 70 votes. GOP is finished they better look what happened between 1954-1994 cause its gonna happen again!! Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 Your full of shit!!!! Bush wants to preserve his legacy he will not allow them to go under...And he only did it at last resort. The new Congress comes in Jan 6 and will pass a bill then with Veto proof majorities if not then come jan 21 they will pass it with ease and Obama will sign it either way no one is going bankrupt!!!!!!!! Dems will have a veto proof majority in the House and 58 senate seats. 7 new dems are coming in to replace 7 REPUBS that voted no on this bill so right there is 59 votes plus obama's seat and bidens seat =61 add on the other 10 repubs who voted yes and we get over 70 votes. GOP is finished they better look what happened between 1954-1994 cause its gonna happen again!! Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted December 12, 2008 Share Posted December 12, 2008 plus obama's seat and bidens seat =61 Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 "The 50 continental United States plus Alaska and Hawaii= 52 states" Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted December 12, 2008 Share Posted December 12, 2008 Isn't Obama's seat going up for auction? Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 Isn't Obama's seat going up for auction? Like anyone is going to take the appointment at this point :lol: Quote Link to comment Share on other sites More sharing options...
one2gamble Posted December 12, 2008 Share Posted December 12, 2008 Isn't Obama's seat going up for auction? I think its on ebay right now Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 I think its on ebay right now Check out what I found on Ebay! Mah Linq Quote Link to comment Share on other sites More sharing options...
Deanh Posted December 12, 2008 Share Posted December 12, 2008 Check out what I found on Ebay! Mah Linq if we could just mix yours and Metechs Avatars............ Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 if we could just mix yours and Metechs Avatars............ Come on. At least mine is Ford related :lol: Quote Link to comment Share on other sites More sharing options...
Deanh Posted December 12, 2008 Share Posted December 12, 2008 Come on. At least mine is Ford related :lol: yeah but....oh, and in 3D please..... Quote Link to comment Share on other sites More sharing options...
Versa-Tech Posted December 12, 2008 Share Posted December 12, 2008 yeah but....oh, and in 3D please..... That's the best I can do for yah. Enjoy Quote Link to comment Share on other sites More sharing options...
Pioneer Posted December 12, 2008 Share Posted December 12, 2008 how ironic, the UAW has trashed Bush for years and now they come groveling to his feet, and the feet of the taxpayer. The Government is giving the UAW money? Quote Link to comment Share on other sites More sharing options...
Joe771476 Posted December 12, 2008 Share Posted December 12, 2008 Versa..the boobs are very distracting! Quote Link to comment Share on other sites More sharing options...
JasonM Posted December 13, 2008 Share Posted December 13, 2008 The Government is giving the UAW money? Who said the Government is giving the UAW money? What was said is the UAW is begging for taxpayer's money to bail out their employers. Quote Link to comment Share on other sites More sharing options...
wildosvt Posted December 13, 2008 Share Posted December 13, 2008 (edited) how ironic, the UAW has trashed Bush for years and now they come groveling to his feet, and the feet of the taxpayer. What were you going with this? Exactly. Edited December 13, 2008 by wildosvt Quote Link to comment Share on other sites More sharing options...
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