CAN YOU BELIEVE THAT THE BIG AUTO 3 WENT IN FRONT OF LAW MAKERS TO ASK FOR A BAIL OUT AND HAD NOT PLANS ON HOW?

CAN YOU BELIEVE THAT THE BIG AUTO 3 WENT IN FRONT OF LAW MAKERS TO ASK FOR A BAIL OUT AND HAD NOT PLANS ON HOW? Topic: CAN YOU BELIEVE THAT THE BIG AUTO 3 WENT IN FRONT OF LAW MAKERS TO ASK FOR A BAIL OUT AND HAD NOT PLANS ON HOW?
July 16, 2019 / By Temple
Question: OMG i cannot believe it, i believe that this just proves that the big 3 is just another big business just handing out their hands to get a piece of the bail out money. i mean come on did they really think that they can go in front of congress and just say " there will be a fatal affect to the economy of we do not get this money", and expect them to say okay here you go, we believe you. Yet they arrived there in private jets to ask for 25 million and here we are tax payers, paying for a bail out for them. The big 3 was ask to see if they had a operation plans for this money and they could not answer the question. Before the crisis they have this plans for health insurance plans that they can put on hold until they are on their feet that will save them millions too and they have a upcoming 25 mil to create new cars that they can wait for and use. Commentators all say that their really is not sign that they really are in debt except for the little things that has been happening. I say the gas company who has made record billions and billions of money should be the one to bail them out after all they are joined at the hip, right?
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Best Answers: CAN YOU BELIEVE THAT THE BIG AUTO 3 WENT IN FRONT OF LAW MAKERS TO ASK FOR A BAIL OUT AND HAD NOT PLANS ON HOW?

Ronit Ronit | 7 days ago
Obviously the automakers don't really need the billions from our tax dollars until they learn to begin to cut costs, such as private jets and multimillion-dollar salaries and bonuses. They just don't get it. They should ask their cronies in big oil to bail them out, after all, they made the oil companies billions and trillions of dollars by building the same old gas guzzlers year after year. They're just more hogs, feeding at the trough.
👍 102 | 👎 7
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Ronit Originally Answered: Why do all "Bail out plans" Not include a Bailout to the People?
how would you make it possible for these people to pay it down? give them free money to pay their loans with? the people need to be foreclosed on and the banks need the go bankrupt. the fact is they never should have been given the loans in the first place. poor credit, many times zero income. in most cases its the goverments fault at every level. from federal right down to the city and county. federal even forced wall st to back the loans. so in a way it is their responsibility to bail them out. but its unecessary. the free market can correct it. for example: gas prices and oil trading high. oil prices arent set by the oil companies. just the TALKS of offshore drilling caused the speculators buying futures to buy lower. originally, the drilling limit was 200 miles offshore. the second we started talking about drilling the price dropped because the speculators figured more oil would be available in the future. now we passed the new offshore drilling bill that bring in the limit to 50 miles. the important thing to know that no one tells you is that 85-90% of the offshore oil is between 3-50 miles. so we actually acomplished nothing as far as getting more oil, but we forced the speculators to buy the futures lower which for now has lowered the gas price. they did it with no govt regulation or intervention. think about it. we havent even started drilling yet. apply the opposite to lets say our air travel system. we bailed them out once because of 9/11, now they have no accountability. they treat customers worse, lowering sales and their revenues, and in turn treat people worse because of that. $2 for water, $25-100 for a standard luggage bag,$3 for peanuts, etc, causing even less people to travel and even lower revenues. no big deal, theyll just get bailed out again. now if they had been allowed to die, it wouldnt be anything like the govt said it would be. their reason for the airline bailouts is that it would leavev the country with no transportation. if they would have just let those particular airlines die, there would have been some others left, and soon after some enterprising person would buy those assets being liquidated in their bankrupcy and assume their operations as a new company being run properly. - customer satisfaction. understand, in the rest of the world the airline industry is booming. so apply that same free market principle to this situation. a major part of the problem now is that banks see this as the perfect time to declare bankrupcy because of the bailout, causing more to go under and more. see were not actually bailing out the banks were bailing out their insurance company AIG. when banks go under their assets or their entire entity is sold off. take this thursday night while you were asleep washington mutual died. before morning, fdic has already lined up a buy, and by open of business friday morning it was business as usual under a differnt name not affecting how the customers get their money. thats the entire entity being sold. in other cases more serious, the debt are bought by other banks or debt collectors and the customer continues (or contines not) to pay their bills to them. now, i do say it should be illegal for these multimillion dollar severance packages. CEO gets 9million severance thats 9mi that could have gone to their debt, meaning 9mi less us tax payers would have had to pay. dont be fooled into the hype that the economy will collapse. thats all based on the stock market crash that happened because of it which, just like with oil, bouced back to where it was suppossed to be just by TALKS of what were gonna do. now that we stopped the quick crash, what needs to happen is slow death. little by little, and let other entrepenuers buy their assets and run them with a better business plan.

Monday Monday
Its not a "bailout" they asked for a loan - they usually get one from a bank because businesses run on credit these days. Unfortunately - all the banks are closed - unless - like Toyota USA, you can ask a foreign bank - but Japan's banks arent lending in the USA either. And chapter 11 wont work because they cant even sell off assets - no one will back such a purchase in the US right now because the US banks are all closed to commercial loans They asked for 25 billion by the way - and they generate income of 150 billion per year. think of the lost taxes on 150 billion - it's more than 25 billion, rest assured. The press is hanging them out to dry - makes me wonder what they want us to look away from? Something else is going on here. You guys just don't get it - they didnt "put themselves in the red" here - they ALWAYS borrow money to recapitalize - only this time there are no loans being made. And the PLAN - was to continue normal (yet reduced) operations - they take loans like this out all the time - EVERYONE does (well, actually right now, no one can)
👍 30 | 👎 -1

Linsy Linsy
Yes, I can believe it. None of the Wall Street guys had plans for what they were going to do with the 700 billion that they got, why is the auto industry being singled out to be treated any different? Those three CEOs had no reason to believe they'd needed a plan for "restructuring" when asking for a 25 billion BRIDGE LOAN, not a hand-out.
👍 24 | 👎 -9

Kamryn Kamryn
any organization who has a union sucks. look at wal-mart, no union #1 company in the world. lots of happy employees and lots of happy shoppers.
👍 18 | 👎 -17

Kamryn Originally Answered: If the Obama plan is adopted.what will be the response from the investor/job creators/business makers?
We are already seeing the response in a way.Because I for one think that what we see in the Market now,is what we will see in an Obama Administration,if he attacks business the way he says he will. Capital will flee the country,people will simply invest their money elsewhere,and only bring into the US what they need to live here.Everything else will stay in offshore banks. Businesses will exit the country faster than they already are,don't be surprised if you but a Ford made in China 10 years from now.That is of course assuming we still have the money to buy one. NObama 08' August 4 President
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