The next bailout

Discussion in 'Politics, Religion, Social Issues' started by nbs2, Sep 9, 2008.

  1. nbs2 macrumors 68030

    nbs2

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    #1
    In the thread on the FM/FM bailouts, r.j.s. pondered who would be next in getting bailed out by the government, suggesting the airlines.

    He was wrong.

    It appears that the House leadership wants to include a $25b low-interest loan to our friends in Detroit. In order to keep it moving, my beloved Rep. Steny Hoyer has suggested that it be made part of the previously discussed stimulous bill to follow Congresses previous resounding success.

    So, to quote what the jaded sound of resignation - "What's next, the airlines?"
     
  2. iShater macrumors 604

    iShater

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    #2
    What's next, the steel industry? ... oh wait! :p
     
  3. r.j.s Moderator emeritus

    r.j.s

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    #3
    Yeah, I was going to correct my suggestion because it does appear that we will be bailing out the automakers here shortly. After that though comes the airlines ...
     
  4. bradl macrumors 68040

    bradl

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    #4
    Didn't all of the Reds bail out the major carriers in 2002-2003 when they cried wolf for the terrorist scare back then? A lot of airlines went Ch. 11 back then, with even more going Ch. 7 or Ch. 13 before they even looked at helping them. It wasn't until the major carriers that flew to their home towns had started to go belly up before they began to care.

    BL.
     
  5. r.j.s Moderator emeritus

    r.j.s

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    #5
    I don't even know for sure ... and I'm too tired to look it up right now.
     
  6. Schtumple macrumors 601

    Schtumple

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    #6
    If you do thats one hell of an economic slow down your going to hit, good luck with that.
     
  7. solvs macrumors 603

    solvs

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    #7
    A few years ago, Obama was part of a bi-partisan effort to raise CAFE standards. Something that would have helped our car companies now. Even brought them to the table too for their input. Didn't happen. Now we're screwed. And they want a bail out. While they continue to cut jobs and their CEOs rake in more money. They'll probably get it too. Your tax dollars at work kids. Remind me again how corporate welfare is ok.

    I remember when we were discussing this awhile ago 'rat said the market would deal with it. Correct itself. That they didn't need the gov telling them what to do. Well the market didn't correct itself, and is now scrambling to keep up. And while they claim they don't need the gov to tell them what to do, they sure won't mind when the gov gives them a handout. Especially when they wind up cutting jobs anyway.
     
  8. r.j.s Moderator emeritus

    r.j.s

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    #8
    Corporate welfare is never ok.

    The market would deal with it, if the government stays out of it. It's just that sometimes the market's way of dealing with it is through failure.
     
  9. Thanatoast macrumors 6502a

    Thanatoast

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    #9
    It's gotten to the point where certain businesses consider government handouts to be "part of the market". They're corporations, I don't think they're too picky about where the money comes from. I wouldn't be surprised if there were business plans being updated all over the country to take government handouts into consideration as revenue.
     
  10. bobber205 macrumors 68020

    bobber205

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    #10
    Maybe the government should say out of it when it decided to unregulate the banks.
     
  11. r.j.s Moderator emeritus

    r.j.s

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    #11
    The government should stay out of it period.
     
  12. skunk macrumors G4

    skunk

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    #12
    Don't all these handouts, bailouts and low-interest loan arrangements fall foul of fair competition rules?
     
  13. r.j.s Moderator emeritus

    r.j.s

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    #13
    It's possible, since the government is stifling the competition, who has to make it on their own.
     
  14. bobber205 macrumors 68020

    bobber205

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    #14
    So you want no rules or regulations for banks? See the Great Depression for results on how that works out. LOL @ the "rules for people are bad".
     
  15. r.j.s Moderator emeritus

    r.j.s

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    #15
    Where did I say that? There need to be some kind of rules and regulations, but the government should not be reaching in the cookie jar whenever they feel like it to "help out."
     
  16. pseudobrit macrumors 68040

    pseudobrit

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    #16
    As much as you want to see GM and Ford recover, the ceaseless stupidity that dribbles out of the mouths of their top executives boggles the mind and leaves you almost cheering for their demise.

    Oh, and they want more federal money, BTW. $50B each is what they're asking for.
     
  17. bobber205 macrumors 68020

    bobber205

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    #17
    You said in one post above that the government "stay out of it period". Which implies no rules or regulations.
     
  18. Sun Baked macrumors G5

    Sun Baked

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    #18
    Looks like the next bailout might be Lehman Brothers, as they work the weekend to keep the company from collapsing this coming week.
     
  19. skunk macrumors G4

    skunk

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    #19
    Looks like it'll be out of their hands: both Korea Development Bank and Barclays have pulled out.
     
  20. r.j.s Moderator emeritus

    r.j.s

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    #20
    Then I should have made myself clear. My apologies for the initial confusion.
     
  21. pseudobrit macrumors 68040

    pseudobrit

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    #21
    Merrill Lynch have just sold themselves to Bank of America.

    The **** is hitting the fan. No, scratch that: this is going to be like a tanker truck of manure being fed to a Pratt & Whitney PW4062.

    Markets open in ten hours. Look out below!
     
  22. GfPQqmcRKUvP macrumors 68040

    GfPQqmcRKUvP

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  23. Agathon macrumors 6502a

    Agathon

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    #23
    I find this highly amusing. Where is your god now, capitalists?
     
  24. pseudobrit macrumors 68040

    pseudobrit

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  25. powerbuddy macrumors 6502

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    #25
    Yep, Lehman has filed for Chapter 11. Is our economy collapsing? :confused:
     

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