Auto "Bailout" Collapses.

[Charger4U]

Oh dang.

http://www.foxnews.com/politics/2008/12/11...e-negotiations/

[daves87rs]

Yep. Hold on to your undies...this is going to get wild......

[FUTURE_OF_GM]

Time to get the codes, turn the key and push the button...

FOG grabs the phone (to hand it to Wagoner)

This $h! is now nuclear, and the companies should become weapons as opposed to assets, IMO.

[Nick]

[regfootball]

i don't want to see what happens with the dow tomorrow.

[§carlet §wordfish]

I just had a thought. Wouldn't it be ironic if other countries provided the Big 3 with bailout money?

[Drew Dowdell]

Libya has already offered.

[Camino LS6]

Irresponsible bastards.

[vonVeezelsnider]

I just had a thought. Wouldn't it be ironic if other countries provided the Big 3 with bailout money?

Canada looks like it will give GM 6-7 Billion Canadian Dollars by the end of the year.

[mustang84]

Canada has already approved $3.5 Billion right away. Pretty sad that our own country doesn't do jack, yet a country that has 10x less population is willing to lend a hand.

The last hope now is Bush & TARP. If that doesn't go through, the landscape is going to change drastically around here.

[Z-06]

The entire exercise may look like Bush trying to create a difference before he leaves. He will look like the savior if he lends money from TARP before the year end.

[Teh Ricer Civic!]

Ah so the senate finally started making fiscally responsible choices. Odd time to start, but then again TARP can do whatever the hell it wants so fiscal responsibility is still a lost cause. Not that it matters anyways, our deficit will only grow as recession weighs in. More and more of our expenditures will go to paying off intrest, but no lackluster programs will be cut to compensate, because thats not how you win votes. We will run the risk of massive future inflation and possibly ruining the value of our currency to the point that we may be forced to adopt the Euro... after we meet the EU financial standards that is.

These governments offering up money only represents why the automotive field isn't fair to begin with. When governments get involved in the private sector it screws everything up. Japan boosts Toyota power, which gives it an unfair advantage. The Euros do similar stuff with their companies (plus taxpayer funded healthcare for retirees). United States companies relied on their own resolve to overcome these barriers but that resolve seems to have long faded. America used to compete on ingenuity but these days... what the hell, its the governments job to protect you. Why should you be responsible when you don't have to. Do you really want America to become like jolly old England, a shell of its former self?

Made some bad decisions? No fear! its not your fault, your just a simple peon, you can do no wrong, Uncle Sam will keep you safe. At this rate America will just be another European nanny state and you will begin to see other more capitalistic countries begin to take power (or china...).

The era of American exceptionalism has come to an end. may it rest in peace.

[capriceman]

This is getting pretty bad really quick already.This past week I heard of 16 people in my family and 5 friends that lost their jobs. 2 of them are foreclosing on there homes and 1 had there car repoed. I'm really starting to feel bad for people like Dave Satty Sly and the rest with the little ones because you can put your self through hard times but its impossible to watch a young one suffer with you. Im hoping for the best. With the country gets a cold, Michigan gets the Flu. That saying has never been truer.