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Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan

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Novaload
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
Allow me to repeat myself: And keeping fat f*cks on mega million dollar aalaries and bonuses, and sanction what amounts to loansharking by entire corporations and then just handing them money, no questions asked--how is that fair? Are the CEOs of Citi and AIG going to work for a dollar? Do they produce anything of value? Uh, no. No more than a Ponzi scheme does.
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Danimal
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
What if they file for bankruptcy help clear or renegotiate their debt, but the government then covers warranty/cost on the cars?
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pauljones
12/04/08

@Fourstring85:

It's impossible for the government to scratch their own asses without going through a laundry-list of debates on where exactly to scratch, and then obtain the necessary funding to outsource their ass-scratching to China or India.

And you expect them to be able to handle car warranties?
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AmishJohn
12/04/08

@pauljones: I'm certain that claims at the ARS will be handled with all the warmth and compassion that their bretherin in the IRS bring to their dealings with the American People.
Can't wait to see the forms I need to fill out because the window won't go up all the way...
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funkshway
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
So I understand this correctly, Fannie Mae and Freddie Mac can get money without stipulations. Citi bank get get money without stipulations. Wallstreet can get money with hardly any stipulations. But when it comes to the Big Three hold the F*CK ON! It seems as though they just don't want to help one of the last domestic manufacturing jobs and would prefer to see them fail. Maybe congress would like to see Toyota as the world's number one car manufacturer?
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rkwadd
12/04/08

@funkshway: Banks were spared to keep credit available, not because the companies were somehow deserving. At least that's the argument.
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pauljones
12/04/08

@rkwadd:

Even so, the point that has pissed off so many when comparing the two situations was that the banks were not pinned, chopped, and fried by Congress in quite the smae way, and nor were were the forced to come up with any sort of business plan indicating that they knew what they needed to change, how they were going to change it, etc.

It was simply a blank check.

I won't deny that it was a necessary bailout for the very reason that you point out, but I will vehemently argue that it was poorly thought out and executed.
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Graverobber
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
This must be their last option as holding their breath until they turned blue did not seem to phase the senators.
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Ash78, tryptophanatic
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
You have come across a room full of Orks. They stare at you with their steely, soulless eyes, ready to devour your flesh and use your bones as toothpicks. They say they only have a few questions for you, but you suspect something sinister afoot. The door to the chamber is 20 feet behind you.

Do you:
Turn and run for the door? Turn to Chapter 17
Face the Orks and hope for the best? Turn to Chapter 11

Chapter 17
You push your chair backwards, turn, and sprint with all your might towards the chamber door. But a CSPAN cameraman causes you to trip. As you struggle to your feet, you feel a searing pain as Charles Schumer (D-NY) tears into your hindquarters. Hobbled, you scratch forth at the carpet with bloody fingernails as your field of vision begins to go black. The last thing you remember is looking up at Richard Shelby (R-AL) and his glaring eyes, his droopy jowels covered in your own blood.
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SundaySunday
12/04/08

@The Name's Ash78, Housewares: And with that, I hand out my earliest COTD nom on record.

"Choose Your Own Adventure" FTW, or for the massive loss in this case.
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combat chuck
12/04/08

@The Name's Ash78, Housewares: Awesome, so many memories. "turn to chapter 11" was the best part.
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layabout
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
"We'll obviously continue to be all over this story like a fat kid on cake"

Haha,that is f**kin funny,never heard that one before.
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STR8SIX
12/04/08

In reply to Report: GM, Chrysler Consider Bankruptcy For Federal Bailout Loan
Pre-arranged bankruptcy!!! Damn you Obama! This loan agreement isn't an academic exercise. Millions of American jobs and families are at stake. The only change you bring is an increase in my blood pressure.
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hapless
12/04/08

@STR8SIX: Keeping people in jobs that produce no value is socialism.
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Novaload
12/04/08

@hapless: And keeping fat f*cks on mega million dollar aalaries and bonuses, and sanction what amounts to loansharking by entire corporations and then just handing them money, no questions asked--how is that fair? Are the CEOs of Citi and AIG going to work for a dollar? Do they produce anything of value? Uh, no. No more than a Ponzi scheme does.
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