I like a Yes-We-Can attitude, but Obama takes the cake.

[Donald T. Belmont]

And what would be your answer to the depression like bread lines and the suffering where there used to be jobs. Then I'm sure it would be "something must be done" or most likely attacks on Barack Obama for not fixing things.

We bailed Chrysler out years back and got our money back in 3 years. With folks like you whining all the way. If we can help GM and Chrysler make it through these times now then when things come back (as they always do) we will gain benefits that would not exist if we just let them go down the tubes.

Fact is there are no simple or simplistic answers to this mess. Attitudes of "let them go down the tubes" ignores the extreme impact on towns, cities, states and regular people. They may be satisfying (especially if you think you're immune from the impact) but those smug attitudes do nothing to try and stave off a total financial disaster.

So now we own a large share of GM and Chrysler. If it's successful then we maintain American jobs that can be created down the road. The alternative would have been foreign vultures grabbing up the nuggets and more of our money shipped overseas when the economy recovered. With not even the potential for American jobs.

I for one am glad that this effort is being made. Is it my first choice, not by a long measure. But I believe the alternative would have been much worse for all of us.

[Michael Larson]

Dear Don,

I've made some poor choices in my life and and have fallen on hard times.

Because I don't want to suffer any personal inconvenience or start making good choices I would like you to send me a check in the amount of $100,000 until I can get back on my feet.

I'll pay you back as soon as I am able.

[John McKenna]

I will gladly pay you on the second Tuesday of next week...

[Michael J. Merino]

I haven't seen any bread lines. I think unemployment is around 9% which means that 91% of Americans are working. Just remember that FDR did what Obama is doing with "The New Deal" and it caused and prolonged the depression. The difference with bailing out Chrysler back when Iaccoca was CEO and now is that we did not take over Chrysler back then and tell them what to do. Despite what Obama is saying he wants to run GM and everything else. If he didn't want to do it then why did HE announce that GM was filing bankruptcy? Never has happened before.

[Kenneth Lott]

Big difference between loaning Chrysler money and a Government takeover of GM. No comparison

[Gary L. Farnsworth]

I have a 1988 Pontiac that consitanly gets 32 MPG on the highway, and 28 in town. GM's MPG rating could be well up into the 40's or 50's by now, but their oil well buddies would cry foul. So, big oil "contributes" to the auto companies to make their big SUV's and trucks. The feds want a piece of that. Obama is nothing but a super-star. I wonder what he would do if for one week, there were no media stories or videos about him as president. He then, would be worried. I really wonder if he is actually working, or just eyeing the cameras. You should feel sorry for his office workers, perhaps they are doing most of the work. Corporate management in action.

[Michael Bazzo]

Originally Posted by mmerino

I haven't seen any bread lines. I think unemployment is around 9% which means that 91% of Americans are working. Just remember that FDR did what Obama is doing with "The New Deal" and it caused and prolonged the depression. The difference with bailing out Chrysler back when Iaccoca was CEO and now is that we did not take over Chrysler back then and tell them what to do. Despite what Obama is saying he wants to run GM and everything else. If he didn't want to do it then why did HE announce that GM was filing bankruptcy? Never has happened before.

Excellant post!!!!!! In order for anyone to understand the full impact of the Chrysler-GM deal, you have to live in this part of the country to grasp the impact on families and business alike. Michigan is estimated to have a 20% unemployment rate by the end of summer. With numbers like this, you will have a hard time convincing me Obama"s plan for the auto makers is the right choice.

[kpierce]

Originally Posted by mbazzo

Michigan is estimated to have a 20% unemployment rate by the end of summer. With numbers like this, you will have a hard time convincing me Obama"s plan for the auto makers is the right choice.

What would that unemployment rate look like if Obama didn't step in? Hmmmmmm.

[Michael Bazzo]

Originally Posted by kpierce

What would that unemployment rate look like if Obama didn't step in? Hmmmmmm.

I'm sure it would not hit 20%. The auto makers were forced to shut down plants and cut ties with dealers. you didn't see any forcible action happen when the banks got bailed out.

[kpierce]

Originally Posted by mbazzo

I'm sure it would not hit 20%. The auto makers were forced to shut down plants and cut ties with dealers. you didn't see any forcible action happen when the banks got bailed out.

You're sure huh? Well, Nostradamus, can you let us in on the lottery numbers for next week?

[Nick Gromicko]

But I believe the alternative would have been much worse for all of us.

Not for Ford and their employees! Ford won, fair and square. How dare the government come in and force Ford to start all over and beat them again. Unfair to Ford employees, executives and stockholders.

[Brian E. Kelly]

Originally Posted by gromicko

Not for Ford and their employees! Ford won, fair and square. How dare the government come in and force Ford to start all over and beat them again. Unfair to Ford employees, executives and stockholders.

Life is not fair Nick, eventualy you get used to it.

[Michael Larson]

Just 21% of voters support the President’s plan to bail out General Motors.

[John McKenna]

[Nick Gromicko]

A portion of Ford employee's taxes are going to financially support their competitors.