Money Beat

Sheila - not all the banks are struggling and many are still lending - actually, the cash the gov. gave the banks was designed to prevent exactly this type of situation. Just like the homebuilders (who are now out of work along with their crews), the automakers should be required to work out a deal with their lenders. If they made bad business decisions and have a bad credit rating, why should the government assume that risk? It's time to let these companies sink or swim.

I completely agree. The Big Three built cars nobody wants with shoddy quality and bad design. They made tons of money making gas-guzzling SUVs while the Japanese automakers make do tiny profit per car on gas-saving, quality endowed automobiles. Now they are screaming for cash infusion? What happened to the execs that made tons of money during their glory-days? Make those guys pay pack their bonuses before any so called "bail-out" discussion starts. Would the government bail me out if I partied too much, and become a bum? I don't see the the government bailing out homeless American so why should this be any different? SUCK IT UP AUTO EXECS!!!! You made bad choices so live with it. The American people are not here to bail out your mistakes...

In the end, it doesn't matter what we taxpayers think. Big Government does what big government wants to do. We're expected to just shut up and defer to the the wisdom of Pelosi and the gang.

Fed Up, you can thank your local union for making sure those assembly line workers get that $50,000. I know people that work the line at a local Ford plant here that make about $70,000!!! I wish I worked for a union!

You see when you give out money to AGI and Wall Street bankers, now you will have every defunct industry from cars to airlines standing in line for huge bailouts or loans from the government. The congress needs to learn to "just say no to them". This is no free market and I'll be dammmmned if I am paying for every poor management or corrupt action by the commercialized world. Go succcck raw eggs - no way!

Well they bailed out The others, they should bail the auto makers out also.

Even though the do not need them for their Future Plans, they are not high tech, Money maker or new.

Right and fair should come in line at some time and equality needs to apply.

NEWS FLASH: CAPTILALISM IS SHELVED IN AMERICA!!!! Company Fat Cats concede defeat after driving companies over a cliff. One anonymous CEO commented "I enjoyed blowing smoke at investor meetings but honestly I didn't mean to cuase such a mess"

Before leaving for his vacation home in the Carribean he commented "I was one of the lucky ones that hired my own compensation consultant, I'm not hurt'n but I do feel sorry for the working Joe"

save the auto industry for National defense reasons, make them retool like they did in WW2 ! Form a new company where people get paid sixty percent of what they are currently, force them to build electric, natural gas fueled light weight (carbon fiber) vehicles, all (GM Ford Chrysler) built for similar bumper height, for crash prevention provisions.

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"umm...I dont wanna give my tax money to irresponsible companies any more =["
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How about the greedy non-working Unions.
I don't want to give them any money either!

I say let them Sink!

Okay, so what's the deal? We already bought mortgages to help those who bought beyond their means. Now we are going to help pay pensions for overpaid union workers because they are buddies of Obama and help keep their employers in business to give away even more so we can pay again!!!

And more companies will line up now that the messiah and a Democratic Congress will take power. Hey, I'm going to stop paying my mortgage and car payment have hard working stupid Americans who pay their bills pay for MY debts. WOOO HOOOO, a New Deal is finally here.

Le tthem fail. I would feel bad for the honest hard working labors, but..I', tired of paying a years salary for a car that won't last....What happened to the cars that you could pay off & keep for years. Heck if you wreaked it it would hardly get a ding.

I work in the toilet puck industry and it's really gone down the drain lately.

I don't know maybe people are trying to save water and only flushing every other sitting. Maybe the imported ones small better, but don't worry I have a plan to make everything small like sweet potato pie.

My industry needs $5 Billion NOW to shore up puck production as no one is buying.

If there is one thing all Democrats, Republicans and Independents taxpayers can agree upon is that there seems to be no end to these bailouts or shall we call them handouts.What's next biling out the casino industry?Instead of playing pass the taxpayers' loot to every panhandling industry, why don't our elected officials rolll up their collective sleeves to address the mortgage crisis that lead to this mess. We own Fannie & Fredie so let's start there. Take the loans that are salvageable and rework the terms so that people can stay in their homes and pay their mortgages. Something as simple as reworking the amortization schedule (i.e. turn a 15 year note into a 30 year) can save hundreds if not thousands on monthly payments and payments can be made to the lenders and gotten of the government's books.Forget the bailouts. Fix what is broken.

now would be a good time to see what the bonus's are for the last couple of years from the auto makers... I vote NO !!!!

I think everyone in America should just stop paying on debt for two months straight. House, Car, Boat, or Banana Farm, just stop paying.

Maybe someone in D.C. will say "This is insane, we need to stop bailing and let the fire burn itself out"

I don't think there are enough collection agencies in the world that could handle such a case load. I would be like a lottery, you could be the one who gets off for free!!

Let's save the working Joe! He is more responsible!

Our elected representatives must be deaf.No more bailouts..whether it's Wall street, Main Street, or a dead end street. Look what AIG did with its "bailout". It booked a "retreat" to the St. Regis.I think the rest of us would have enjoyed that little get-a-way, especially with our "OWN" hard earned money.They must think that the American taxpayers are a one big bottom less pit. Enough already.

MAKE them unite and put out economy cars. That should be worth 40billion ...... jees!! whats next.. ?? we can all boycott this crud here y'all. we just all quit our jobs. that would fix that. At this rate, George Harrisons taxman " 1 for you, 19 for me " is just around the corner..

Detroit built literal trash for years, some of which was so outrageously defective it resulted in the fiery deaths of the hapless vehicle owners. And some of the stuff built in Detroit had product defects that caused the vehicle owners to pay through the nose for repairs. I saw these defects first hand. Over the years, eventually the public got so pissed off they looked for alternatives. Now the bloodsuckers who were paid a gazillion dollars to run these enterprises into the ground want WELFARE payments from the government, welfare payments that you and I will SUBSIDIZE. If you have half a brain, pick up the phone and tell the Detroit automakers to go to H--l.

No way - you made stupid cars that didn't fit the market well, you've had decades, and a past bailout to change, and haven't cared to. We aren't going to be suckers twice!

oh, yeah? Are they going to have a big party at resorts like AIG did after the bailout? Now people are kicked out of their own homes and get strayed on the street, retirees see their 401k disappear. Was there anyone who saved them?? Now auto makers go bankrupt for their own stupid business mistakes and say, "give us money and help us"? I don't think so. It should be a good medicine for them to let them handle their own mess. Did they give consumers incentives when they were selling big gas gazzlers and making lots of profits? Why do we need to help stupid companies w/ our tax money? I don't think so!

How about letting one of these captains of industry file bankruptcy like the law ALREADY allows and reorganize their business affairs the way most small businesses or the average person must do when they fall into economic extremis. This is insane. Read our lips..No more handouts. I prefer to give money to Goodwill. It least I know I will actually be helping the needy.

Maybe if everyone commenting here understood that the car industry is in this condition because the UAW. That's right the UAW. They have to build into every car or truck a margin to cover there union retires pensions. Every year we all saw the UAW workers picketing and holding the industry 3 hostage. No workers no cars. It's that simple and the UAW does everything in it's power to make sure it's still as strong as ever without forcing them to close the doors. Well the big 3 are getting close to shutting the doors and we all might praise that. But then, we the tax drained citizens will be bailing out the pension funds. And oh yeah, we'll all be driving foreign built cars tilting the trade deficit even more. So, don't bail them and see what happens. We need to bail them but we also need to make a buck doing it. AIG paying 11% wasn't bad deal. Something similar works for me.

I don't believe in bailouts anymore than others posting here but pause and think before you rant. 1/10 jobs in the US is tied one way or another to the auto industry. It's not a matter of letting these companies fail(which they deserve), if the these companies go under the entire US economy will begin to collapse. Nobody lives on an island people, wake up. As quoted on the BBC today "the collapse of the auto industry in the US will all but guarantee a depression. No job in the united states would be safe." The trickle effect will be tremendous.