Obama taking a harder line with auto makers

Submitted by Rajah on Mon, 03/30/2009 - 11:26.

Why not with the banks and Wall Street? I sense a double standard here. Are the banks and AIG anymore viable?

http://www.gulfnews.com/business/Automobiles/10299531.html

‹ Weasel time Hey Green Party, Libertarians, whatever, now's your chance! ›
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Voter backlash...

Dan_in_Cincinnati's picture
Submitted by Dan_in_Cincinnati on Mon, 03/30/2009 - 12:43.

...can sometimes be a good thing.

It was good to see that Americans are capable of getting mad about something.  The AIG firestorm will force Washington to try harder.

{;-) Dan in Miami

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I believe it's yet another banker scam...

Scumby's picture
Submitted by Scumby on Mon, 03/30/2009 - 18:28.

Somebody's going to pay out more than $1T in CDS default payments when GM goes under...I'll bet it winds up being the taxpayer and the recipients will be the bankers. 

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If the big 3 automakers go bankrupt Obama would nationalize them

Dan_in_Cincinnati's picture
Submitted by Dan_in_Cincinnati on Mon, 03/30/2009 - 19:43.

He would be forced to.  The economy simply couldn't take the shock of millions more unemployed people.  There are more people employed by the auto parts supply industry in the US than there are employed by the big three.

So the federal government would own and operate the big three until such time that the economy and their balance sheets were good enough to resell them to the public.

{;-) Dan in Miami

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