Here's why we need to wait on this Big Three bailout

[MadHound]

Let me ask you, how's that Wall St. bailout working? Yeah, not so well, not so well at all. In fact it's starting to look like a trillion dollar heist for Bushco and his cronies.

Now then, is this what you want for the auto bailout? All that money to be given out freely, however Bush sees fit, no strings attached. You know that's what's going to happen if the bailout is passed now. It doesn't matter what conditions and such we put on the bailout, Bush will simply take it over and do with it as he sees fit.

That's why we need to wait on the bailout. Yes, it's tough out there, yes, people could get laid off. But frankly the alternative is worse. Better that we tough it out and let the incoming Democrats and Obama craft a bailout package that reforms the auto industry, one that has teeth in it. Otherwise we're just giving more money to the say crony corporate criminals that we've already let steal nearly a trillion dollars.

[bunnies]

1. GM says its done by years end.

No rush. :eyes:

[MadHound]

2. Then have them throw open their books and let us see

Frankly I trust GM about as far as I could throw a Hummer.

We've been down this road before, remember, Wall St. screaming about certain doom soon if we didn't throw money at them. Yet they get that money and what happens, layoffs continue, acquisitions continue, but no help for the ordinary guy.

If GM is screaming death and destruction, then they need to open up their books to prove it. Otherwise it's all too easy to believe that they want this money(which under Bush would have no strings, no oversight) to acquire Chrysler, which is what they were originally stating that they wanted to do a month ago.

[bunnies]

4. Damn right they should throw open their books.

Youll get no argument from me on that one. And damn right there should be strings attached. Big, huge, metal ones.

Personally, I could give a damn about the big 3 companies... its the employees Im worried about. And GM says they absolutely will *not* file for bankruptcy. On one hand... good for them for being unwilling to stick it to the union.

[Greyhound]

3. Really can't wait that long, but what can be done, rather than a straight loan or bailout

for the shareholders, is to buy a controlling share. We should pick up Ford and parts of Chrysler too

GM Common stock currently at about $3 with a market cap of 1.89B