Comments on: You and I are guaranteeing GM’s products

By: Laschea

Laschea — Wed, 16 Sep 2009 18:03:47 +0000

I wish like hell, they would stand behind this 2006 Chevy Malibu that I have that’s only valued at @$5,000 if that. Yes, thankful that I have a ride but unfortunately it’s worthless…..Trust me when this fiasco is over, I am going back home Honda/Acura, here I come……There should have been some type of cash for clunkers incentive or deal for indiviuals that are upside down like crazy!

By: Saul Good

Saul Good — Tue, 15 Sep 2009 18:39:30 +0000

Dunwoody Mike,
WHY?
“Your” bailout?… the economy is now ticking upward. All economists say so. Those laid off (in all sectors) got extensions on their pay outs. The one’s like yourself who are a ” paycheck away from disaster” got others who were kept from being laid off…. Sinking the economy into a deeper tumble into darkness. Those that don’t have money don’t spend. Just remember two things..WHO took us here…and WHO made the first payouts to the banks. It was NOT Obama. Yet is WAS him who put some controls in place. Now much of that money is being paid back. Just be glad that the deficit (like after the the Great Depression) is moving upwards…if not..complete disaster was upon us all. Massive spending was the only way out. Though I believe Kyle here to be highly intelligent, I think he needs to study the Great Depression a bit more. See the debt it took to bring us up… see how it was being paid off until Reagan decided not to. It’s NOT a republican or democrat issue…it’s one that ALL economists agree on..massive spending and massive debt accrued took us out of the abyss.

Kyle, I respect you taking on this job. I hope you will keep an open mind and let those speak of free will here. I suspect all will continue to get biased and confused as you move along on this new journey…

I’ll just back up what I’m saying about spending, paying off the depression, and Reagan… he’s NOT to blame…but all should remember what the tax rates where back then compared to now (based off of all I hear about “reducing taxes to stimulate the economy”…. it’s clear that THAT has never worked as well..

http://zfacts.com/p/318.html

To all he “spinners” out there…READ the article and look at the chart. We were paying off the debt until Reagan/Bush…Clinton WAS paying it back again… these are the “facts”… yet Dunwoody Mike…going all the way back to the Depression… debt had it’s roll. Had we tried to “balance the books” back then… this nation would have turned out very different. My own father was an professor, an economist, banker, accountant, and an attorney… As I got older..i learned much…in a NON-BIAS way… facts are facts when it comes to the numbers involved in history. ALL history tells you that the spending saved this nation… yet the “difference” NOW, compared to the last administration is that we “spent it over here…instead of spending it over there”… we’re creating wealth and putting money back into OUR economy. History shows that a STRONG middle class is hen this county thrives best of all…

By: Dunwoody Mike

Dunwoody Mike — Tue, 15 Sep 2009 13:07:54 +0000

Where was OUR bailout? Why did the rich, the bankers and corporation heads that ran our economy into the ground get money, but us working stiffs, the ones that are a paycheck away from disaster, got nothing?

By: Saul Good

Saul Good — Tue, 15 Sep 2009 12:12:35 +0000

Kyle,
You fail to mention that this is a LOAN that will be paid back to “we the people”… it’s not a clear handout. Citibank (I’ve been a stockholder of theirs for 15 years) is already going to be paying back the government by buying back their shares (well over the price we paid for them). It actually ended up being a PROFITABLE venture for the government. http://www.bloomberg.com/apps/news?pid=20601087&sid=acs7LZGlwiYU
FTA: “the New York- based bank’s stock price has gained since $25 billion of bailout funds were exchanged for common shares, the Treasury is sitting on a paper profit of $9.77 billion.”

Is it a practice we should always be involved in? Absolutely not, but special circumstances (like a near depression) call for special measures to ensure that we have stabilize the economy and get in back on the path to growth.

By: Michael Honohan

Michael Honohan — Tue, 15 Sep 2009 05:15:14 +0000

I am not disagreeing with the point here. But we need perspective. The Fannie Mae/Freddie Mac issue is a drop in the bucket compared to what went on with Goldman Sachs and AIG. We can argue all day long about what Obama is doing to try to fix the problem, but until Americans wake up and realize that the Republicrats turned a blind eye on our financial health and allowed profiteers to run rough shod on our economy, these things will continue to happen. And someone will have to pony and bail out the economy.

Like my conservative cousins, I fully support deregulation. We certainly do not need government pin-heads trying to run American commerce. What we need is not regulations, but laws. Just like every other sector of society. You follow the law – no more credit-default swaps backed by no money. No more creation of artificial bubbles. No more lying to consumers and investors. No more shame on they system build by Alexander Hamilton. You are free to trade legitimate instruments of real value backed by real products and services. Legitimate business risk should be legal; out-right gambling and market manipulation should be against the law. If you do not follow the law, you don’t get a $110 million fine for a $7 billion in ill-gotten game, you lose the 7 billion and go to prison. And if you know that a Madoff is robbing people (as many investment houses did) and you don’t speak up, you go to jail. Why should Goldman Sachs not have to follow the same code the rest of us citizens do? They made AIG thier bookie. We are all paying for it now. And we deserve it!

Americans need to speak up for America. We do not need brokers. With he Internet, we should all be free to exchange stocks, bonds, and money. Who says these robbers should control OUR money?!?! Open the exchanges directly to all citizens. Make the exchanges free and open markets to all and Goldman Sachs of the world will not own us or bring us down. We will not have to worry about the next financial collapse.

RULE OF LAW.

By: Nick

Nick — Tue, 15 Sep 2009 04:43:43 +0000

Any other time when the economy is on an upswing, GM would have been fine to have fail but to have had it fail within the time period of Depression 2.0 would have been absolutely devastating. Wall Street has gotten the biggest bailout (which they will eventually pay back) of them all due to the relative low risk involved. GM will probably never pay it back but at least we’ve delayed the inevitable to occur a bit later during an upswing. The importance of the green economy is to rescue Michigan and Detroit from a complete exodus. We still have a good deal of manufacturing in America but a lot of that is buoyed by the Rust Belt. If that were to have failed, we may reduce our manufacturing base to an inconsequentally small percentage of the overall economy thus dooming America’s exports and its’ ability to repay our debt to China.

I’m sorry but bailing out GM was the right move at the time (an emergency). It all sucks, but you can thank Wall Street for all of this.

By: Good One

Good One — Tue, 15 Sep 2009 01:02:40 +0000

We are paying for the salary increases they are giving back too…Like their people don’t make more than everyone else as it is.

By: @@

@@ — Mon, 14 Sep 2009 22:27:26 +0000

DANGIT! There’s something screwy going on with this site.

Pardon the interruption.

By: @@

@@ — Mon, 14 Sep 2009 22:25:05 +0000

And all because I made a generic comment about Wooten’s blog and the plethora of cretins and ignoramuses there? Noooooo, AmVet, this is the post which inspired my comment. Pontificate! Niiice, mystery meat! Now look up the word erudite and use it an sentence, such as, ” I, whatever my gutless name of the moment is, am not very erudite and look like an oaf when I try.” No matter how highly you regard yourself, it's rare that I read your posts. If you said IT once you've said IT a thousand times. IT being the same tired observations of old. mystery meat, cretins, ignoramuses and oafs Well aren't YOU special!

By: F-105 Thunderchief

F-105 Thunderchief — Mon, 14 Sep 2009 20:53:31 +0000

My wife had to have a new transmission in her Camaro four times. It was a lemon. Never again.