| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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06-11-2009, 11:19 PM
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#1
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I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Mar 2002
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After spending $80,000,000,000...White House says no more bailouts for Big 3
White House promises no more bailouts for Detroit 3
Posted Yesterday, 8:03 AM by James Martinez
With accusations and hyperbole that the U.S. government's bailout of the Detroit 3 is a clear step towards socialism, President Barack Obama's automotive task force that has been charged with overseeing the restructuring of GM and Chrysler has promised that the government will not be putting any more money into either automaker.
In total, the U.S. government has given automakers and suppliers close to $80 billion, and while the government claims that this money has given the companies a good chance to succeed while preserving American jobs, there is also the question of whether taxpayers should have to foot the bill for private enterprises.
The government defended its decision, stating that the public had a reasonable chance of getting a return on its investment. Furthermore, even if GM or Chrysler somehow manage to find themselves bankrupt again, the federal government believes that the bailout given will be the last money the two automakers will require - although it won't rule out the possibility of more bailouts in extremely extenuating circumstances.
As a major stakeholder in GM and Chrysler, the federal government finds itself in the tricky position of not wanting to run the business but also keen to see it succeed. As for how long the government plans to remain a major shareholder, Ron Bloom, a senior adviser to the automotive task force explained to the Associated Press that the situation will depend on the financial markets.
Despite obvious opposition from a number of angles, the White House has implied that without the bailout of GM and Chrysler the ripple effect of a complete bankruptcy of these two companies would have had profoundly negative effects on the U.S. economy.
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06-11-2009, 11:24 PM
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#2
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Banned By Establishment
Join Date: Jun 2006
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the gov't did what they could, the big3 however...
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06-11-2009, 11:26 PM
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#3
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I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002
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what's wrong with socialism bloody americans
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06-11-2009, 11:52 PM
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#4
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The "You'd Know" Moderator
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What Detroit 3? There's no mention of Ford at all in the article.
Quote source please.
__________________
08 CBR600RR
03 IS300
Ezekiel 25:17. The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men. Blessed is he who, in the name of charity and good will, shepherds the weak through the valley of the darkness. For he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger those who attempt to poison and destroy my brothers. And you will know I am the Lord when I lay my vengeance upon you.
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06-11-2009, 11:54 PM
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#5
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I answer every Emotion with an emoticon
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Ford didn't take any bailout money.
__________________
Quote:
Originally Posted by MajinHurricane
who would ban me? lol. Look at my post count.
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06-12-2009, 01:26 AM
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#6
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Unofficial Tin Foil Hat Specialist.
Join Date: May 2008
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The feds offered Ford "some" Bailout money but Ford's doing quite well (better than the other 2).  I'm looking forward to Ford's new lineup next year.
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06-12-2009, 03:46 AM
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#7
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WOAH! i think Vtec just kicked in!
Join Date: Oct 2005
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Ford did not ask the Federal Government for a direct bridge loan however they did ask for a 9 billion credit facility made available in case of economy turning worse.
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06-12-2009, 09:32 AM
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#8
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Banned (ABWS)
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ford is da man
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06-12-2009, 11:25 AM
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#9
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ninja edits your posts without your knowledge
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Quote:
Originally Posted by orange7
ford is da man
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Ford's son, however, failed.
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06-12-2009, 11:53 AM
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#10
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F**K YOUR HEAD
Join Date: Apr 2009
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I have some confidence in GM for the next 5 years, obviously it's gonna take a bit of time to reverse all the damages, but all of they're new cars have huge potential
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