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by jteamaz from Phoenix

Last Post 27 days, 16 hours Ago


And Now, Automaker Bailout
Sep 25, 2008 | 4:12 PM
Category: News
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Our government sure is busy these days, and it seems as though it didn't feel the need to tell us about this.....and neither did the main stream media. While we were being distracted with the Wall Street crisis and bailout, the House of Representatives approved a package worth another $25 Billion in "low-cost loans" to our big three carmakers and their suppliers, because they can't get access to public capital markets. This is, of course, in addition to the $700 Billion package being rolled out today. These guys approved this 370-58, and I didn't hear a word or see anything written on this, anywhere, until today. And, after it was all a done deal of course.

It seems the auto industry was crying foul, claiming that if millions of home mortgages can be purchased by the government, or might be re-written to help the borrower, then what about the tens of millions of outstanding car and truck loan contracts that are also going bad? But, also consider that this $7.5 Billion portion is again separate from the $25 Billion. Seems as though we're now bailing out the car buyers as well as carmakers for years of bad decisions. And if you bought that Escalade, Navigator or Hummer that you can't afford to fill up or pay for, it's OK, I'll bail you out as well.

Unfortunately, this is just like any other national emergency we seems to be having this week. Every industry and affected special interest group will be sending their lobbyists to Congress to get some of this free dough being handed out.

Why am I even bothering to pay my bills? I should just default on everything and play the victim card......enough already !!
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Member Comments Total Comments: 5
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DMG2FUN read my blog
Sep 26, 2008 | 7:07 AM

The only problem with America’s automobile manufactures is from the leftist aka progressive treehuggers epa laws.
justold44 read my blog view my photos
Sep 26, 2008 | 7:23 AM

How do I get my name on the list of people being bailed out?

The only way to stop these bailouts is "NOT TO GIVE ANY!!
magnumforce read my blog
Sep 26, 2008 | 10:06 AM

Last I heard, read...they still arent in agreement with 700Billion. Where are you hearing this? Thanks...
jteamaz read my blog
Sep 26, 2008 | 10:54 AM

magnum, the $700 Billion deal hadn't hit the wall when I wrote the post. They're still negotiating I guess, but the automaker package was passed by the house on Wednesday. Google now shows it being covered on USAToday.com / autoblog.com / newsmax.com / huffingtonpost.com

I heard nothing on any television news report, did anyone else? My guess is they know the public outrage on the Wall Street bailout is still really fresh, and they wanted to slip this one in while no one was paying attention, but I could be wrong.
justold44 read my blog view my photos
Sep 26, 2008 | 10:56 AM

There was a really short blurb about it on channel 5 wed. morning.
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jteamaz

Not much to say actually. Just a normal kinda guy. I drive a truck delivering groceries for a major food chain here in the valley. Try to keep educated on local and national events especially those concerning corruption and moral ineptitude by our "elected officials." Very much for protecting our freedoms and rights, always open to new ideas and discussions. I don't identify as Democrat or Republican, and don't like to be labeled as liberal or conservative. Just try to stay responsible and informed as possible.

Member Since: 4/18/2007


 

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