We are in Big Trouble Now!!

[Grumpy]

When the government starts taking control of private businesses and indusrty we are in BIG TROUBLE NOW!! It was bad enough when they/Obama were just dictating what to do to the banking/financial industry but now they are taking over actual control and deciding who can or can't run the business. The following is quoted from the INSIGHT NEWS PAGE:

"WASHINGTON (Reuters) - President Barack Obama seized the wheel of the failing U.S. auto industry on Monday, forcing out General Motors Corp's chief executive, pushing Chrysler LLC toward a merger and threatening bankruptcy for both.

"What we are asking is difficult," Obama said in an appearance at the White House. "It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognize that they cannot hold out for the prospect of endless government bailouts."

Major U.S. stock indexes tumbled on the harsher-than-expected medicine for the automakers as investors reacted to the government's decision, which could push the companies closer to a bankruptcy that could wipe out equity and force deeper losses on creditors."

I wonder what business/industry will be taken over next.

Grumpy

[DJD]

Healthcare.....*gulp*

[mhall]

Socialism at it's finest!

[pontooner]

If they are going to give them bailout money why not put restrictions on it?

Plus it looks like they are doing what most on here wanted done, Fire the people at the top, force the union to make even more concession and submit a plan that will work.

GM has 60 days to come up with a feasible resturcturing plan or they get nothing and Chrysler has 30 days.

[GeoFisher]

If they are going to give them bailout money why not put restrictions on it?

Plus it looks like they are doing what most on here wanted done, Fire the people at the top, force the union to make even more concession and submit a plan that will work.

GM has 60 days to come up with a feasible resturcturing plan or they get nothing and Chrysler has 30 days.

So, you think it is OK for the GOVERNMENT to step in and setup these rules.

THE government has NO BUSINESS doing this.............they cannot run Medicare, Social Security, our TAX SYSTEM, Government Parks, whatever.......WHAT makes you think they can do this..........

Welcome to SOCIALISM...........

Our new republic with be the U.O.S.R............United Obama Socialist Republic.........

When does the new government open up Gulag type prisons in Utah for dissenters......Just checking.

http://en.wikipedia.org/wiki/Gulag

Later,

Geo

[pontooner]

So, you think it is OK for the GOVERNMENT to step in and setup these rules.

THE government has NO BUSINESS doing this.............they cannot run Medicare, Social Security, our TAX SYSTEM, Government Parks, whatever.......WHAT makes you think they can do this..........

Welcome to SOCIALISM...........

Our new republic with be the U.O.S.R............United Obama Socialist Republic.........

When does the new government open up Gulag type prisons in Utah for dissenters......Just checking.

http://en.wikipedia.org/wiki/Gulag

Later,

Geo

If they are asking for/taking bailout money then yes.

[Grumpy]

Socialism at it's finest!

Yeah, George Bush criticized Hugo Chavez for taking over private industry and now its happening in this country.

Grumpy

[DJD]

1) I wanted no bail out money at all to these automakers and Unions.
2) If they get money I want a plan where they pay it back and they do get restrictions. It's our money so they should give us something for using our money, maybe tax credits for any car you purchase?
3) I don't like the fact that gubment is involved but it's doesn't matter what I want these guys do whatever they want....so much for the people getting protected. We get hosed.
4) The Union contracts are the main problem (IMO) so quit going after the top exec's only and go for the meat of the problem. It's the crooked Unions and their stranglehold they have on the car companies. Get them out!!!!!!!

[Col Forbin]

1)
4) The Union contracts are the main problem (IMO) so quit going after the top exec's only and go for the meat of the problem. It's the crooked Unions and their stranglehold they have on the car companies. Get them out!!!!!!!

I totally agree with this.

I also think, if we are handing federal money to keep large corporations afloat, then YES the federal government has every right to place restrictions and monitor spending. It gives me at least some assurance that they are not blindly handing out money.

[BPenrod]

just a little bit draconian isn't it. the inmates are running the asylum!

[DJD]

GM stands for Gubment Motors ha ha! Ok, it's more sad than funny. Also heard the gubment will honor the warranties of the vehicles. Is that supposed to help sales of GM vehicles?? That gives me a warm fuzzy feeling knowing that! They are also the ones that take care of our Veterans and look at the great job they do there. Sad sad sad

Just a thought....maybe this is the way they can insure we have more "green" vehicles? If they run the company then they can run the production lines....

[MsgMills]

Why did the Gubment not set certain restrictions like the ones imposed on the Auto Industry for the Banks......?