The Conservative Cave
Current Events => Breaking News => Topic started by: Miss Mia on March 30, 2009, 12:29:58 AM
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Obama Denies Bailout Funds for U.S. Automakers, Sets Restructure Deadline (http://www.foxnews.com/politics/first100days/2009/03/30/obama-denies-bailout-funds-automakers-sets-restructure-deadline/)
Neither GM nor Chrysler submitted acceptable plans to receive more U.S. government bailout money, the White House says, setting the stage for a crisis in Detroit.
(http://www.badidea.co.uk/wp-content/uploads/2008/12/gm_chrys_ford.jpg)
The White House says neither GM nor Chrysler submitted acceptable plans to receive more bailout money, setting the stage for a crisis in Detroit and putting in motion what could be the final two months of two American auto giants.
The Obama administration, however, has decided not to require the automakers to immediately repay government loan money they previously received, since that would force both companies into Chapter 11 bankruptcy.
A senior administration official told FOX News, "calling in the loans would not be a productive exercise for the American taxpayer since the companies don't have the money [to repay the loans] and it would simply put the companies into uncontrolled Chapter 11."
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Instead, the administration has decided to give Chrysler 30 days to work out a deal with Fiat and GM 60 days to come up with a new restructuring plan. Both companies will be provided with "some working capital" during those time periods.
A senior official said, "bankruptcy is not the goal," although there may be a "role for a court supervised process to effect the restructuring... different from Chapter 11."
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So he tells the GM CEO to resign as a condition to recieving more funds, and then tells them their not getting more funds. Un****ing believable.
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It's time to let them file for bankruptcy, so they can redo their contracts with unions, dealerships and suppliers.
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When is the One going to do the same with the Banks?
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So he tells the GM CEO to resign as a condition to recieving more funds, and then tells them their not getting more funds. Un****ing believable.
My thought exactly.
We need to hold him to his own standard: You're broke, you're mismanaging this whole affair, we aren't satisfied with your plans...RESIGN
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My thought exactly.
We need to hold him to his own standard: You're broke, you're mismanaging this whole affair, we aren't satisfied with your plans...RESIGN
Agreed. Uncle Zer0 hasn't "submitted acceptable plans to receive more bailout money". As a matter of fact, Uncle Zer0 hasn't submitted any acceptable plans for anything. Oh that's right, rules & standards don't apply to the WH anymore. :thatsright:
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Notice the response from the financial markets. Dow is down 200 right now, gold and silver are way up.
It seems like the whole world is suffering from the coriolanis effect.
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It's time to let them file for bankruptcy, so they can redo their contracts with unions, dealerships and suppliers.
Bingo. Too bad we couldn't have done that $45 billion ago.
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Bingo. Too bad we couldn't have done that $45 billion ago.
$45 billion buys a lot of votes.
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So he tells the GM CEO to resign as a condition to recieving more funds, and then tells them their not getting more funds. Un****ing believable.
If I were that guy...I'd retract my resignation and let everyone that would listen know that the reason for the retraction was because Obama reneged on the deal they'd agreed on.
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Chrysler Fiat reach a deal...breaking on CNN now. "US Treasury approves the deal" WTF?
Deals should be made in the open market...however; since when is the government's approval necessary...
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Chrysler Fiat reach a deal...breaking on CNN now. "US Treasury approves the deal" WTF?
Deals should be made in the open market...however; since when is the government's approval necessary...
Since Jan. 20, 2009
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Since Jan. 20, 2009
(http://i21.photobucket.com/albums/b293/aggie8387/brenner1.jpg)
Let it be written. Let it be done.
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(http://michellemalkin.com/wp/wp-content/uploads/2009/03/gmlogo.jpg)
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Chrysler Fiat reach a deal...breaking on CNN now. "US Treasury approves the deal" WTF?
Deals should be made in the open market...however; since when is the government's approval necessary...
Hooray! American money--both public and private--going to a foreign company.
Thanks Obama!
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Good job L'il 'O...markets are tanking due to you idiotic little scheme...not just in the US but Europe and Asia too.
http://www.breitbart.com/article.php?id=CNG.7e6cab4fec704a0fdd135ecdac00673b.221&show_article=1
Have fun at the G20 you pinhead.
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Good job L'il 'O...markets are tanking due to you idiotic little scheme...not just in the US but Europe and Asia too.
http://www.breitbart.com/article.php?id=CNG.7e6cab4fec704a0fdd135ecdac00673b.221&show_article=1
Have fun at the G20 you pinhead.
He'd be in over his head in a parking lot puddle.
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If I were that guy...I'd retract my resignation and let everyone that would listen know that the reason for the retraction was because Obama reneged on the deal they'd agreed on.
GM failed to get the renegotiation with the UAW and the bond holders done. That was a condition on the loans. I'm sure Wagoner knew his resignation was to be expected, he failed to get the rest of the deal done.
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GM failed to get the renegotiation with the UAW and the bond holders done. That was a condition on the loans. I'm sure Wagoner knew his resignation was to be expected, he failed to get the rest of the deal done.
I'd say it is impossible to negotiate with the UAW.
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I'd say it is impossible to negotiate with the UAW.
Both the UAW and the bond holders didn't get done.
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I'd say it is impossible to negotiate with the UAW.
True. The UAW are like Keith Richardses of addicts to the entitlement mentality.
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GM failed to get the renegotiation with the UAW and the bond holders done. That was a condition on the loans. I'm sure Wagoner knew his resignation was to be expected, he failed to get the rest of the deal done.
It's not the government's job to demand resignation from private corporations.
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So he tells the GM CEO to resign as a condition to recieving more funds, and then tells them their not getting more funds. Un****ing believable.
Oh no, with Obama this is completely believable. I don't think it is unique to Obama but I think he is surpassing Clinton in being duplicitous. I remember Clinton would meet with Republicans after 1994 for a budget deal or whatever and while the Republicans would be heading back to the Capitol building thinking they had a deal, Clinton would be issuing press releases undercutting the deal he just made.
What is unbelievable is that people would vote for Democrats again knowing what they are like. But then Republicans haven't exactly been the picture of fiscal thrift but at least Republicans can be held to account because the media will go after them.