I Made a Promise and I Stand By It

[Againsheila]

What two Ford cars do you own?

1996 Taurus and 2006 Focus

 

[Againsheila]

the ones in her garage.

That would be really funny, except they're in my driveway.

 

[Againsheila]

You know what? I think it's about time damned time all the pundits on the left and right STFU and let some middle of the road MFers take care of business. We've been suffering at the hands of one side or the other and their lameass, political tug-o-war for decades.

Look where it's gotten us.

There IS such a thing as a happy medium. I don't think the UAWs have a RIGHT to be paid enough to retire in comfort for mediocre work anymore than I believe the executives should be paid enough to be wealthy just because they attend meetings and fill a position.

The union needs to get some reality in it's ass and its executives need to be looked at too. Their rates are based more on their overhead than they are any benefit to the workers.

You're older than I am so you know the deal. We've been through this shit before in the late-60s and 70s. Some people are going to have to tighten up their belts and quit trying to push that off on the other guy, and some people are going to have to tell our government when enough is enough.

These bailouts are bullshit for the reasons I stated before.

I don't think the workers are making too much money for what they do and the risks they take. I DO think the CEO's are making way too much money. Maybe it's time we had a maximum wage instead of a minimum wage.

I think there should be a law against giving $millions to a CEO that drove the company into the ground. Who else do you know that get's paid for getting fired?

 

[Againsheila]

Good job. Now let's pass into Amendment that the Federal Government can't have a deficit and must have a balanced budget/surplus. Because after Bush's last eight years, do you want this country to go into more debt bailing out inefficient market players?

My mother had an idea years ago to make Congress pass the budget. Whatever is left over, they get to split, if we owe money, they have to pay it. If that were law, bet we'd have an overage real quick.

 

[Againsheila]

I disagreed with giving the money to the banks "no strings attached"; likewise, the automakers.

They need some restructuring, starting with some income evaluations at the executive level. These guys are getting rich for being failures? Something's wrong with that.

I agree. I think it was just a quick way to rob the taxpayers and give money to Bush and Cheney's friends.

 

[WillowTree]

I don't think the workers are making too much money for what they do and the risks they take. I DO think the CEO's are making way too much money. Maybe it's time we had a maximum wage instead of a minimum wage.
I think there should be a law against giving $millions to a CEO that drove the company into the ground. Who else do you know that get's paid for getting fired?

tell that to hollywood

 

[bk1983]

tell that to hollywood

Do you support the CEO's who continue to get raises while they run the company into the ground? Or are you cool with the current status quo of the blue collar worker sacrificing benefits and pay to maintain the yachts and mistresses of execs?

 

[xsited1]

A lot of Americans I know make a promise too.. Take the money? take the bailout? I promise never to even look at another car made by the big 3..

That sounds like a good promise. If the bill ever passes, it'll be Japanese all the way. In addition, I promise to never vote for anyone who was for the auto or financial bail-out... ever.

 

[bk1983]

That sounds like a good promise. If the bill ever passes, it'll be Japanese all the way. In addition, I promise to never vote for anyone who was for the auto or financial bail-out... ever.

Are you also moving all your money too offshore accounts? Surely you want to boycott the banking industry as well right?

 

[alan1]

I don't know about blackmail. Our economy really can't stand the impact of our auto industry failing. The unemployed of the industry, to include the trickledown all the way to the dealers would seriously screw us up.

At the same time, just forking over some money and saying "here you go," is bullshit. If our government is using MY tax dollars to purchase a piece of the industry, then I expect our Democratic government to do to the auto industry what it wants to do to steroids in MLB and provide some damned oversight.

No way those execs should be millionaires and get enormous bonuses for screwing up. The industry itself is broken. Throwing money at it so it can maintain the status quo is NOT a solution.

There needs to be some serious analysis of what's wrong, and restructuring in accordance with that and that includes that overpriced fat pig the union, and too damned bad if it hurts. And IMO, it should hurt starting at the top.

Why, we do that to other welfare recipients all the time?

 

[WillowTree]

Do you support the CEO's who continue to get raises while they run the company into the ground? Or are you cool with the current status quo of the blue collar worker sacrificing benefits and pay to maintain the yachts and mistresses of execs?

no maybe no

 

[xsited1]

Are you also moving all your money too offshore accounts? Surely you want to boycott the banking industry as well right?

That's not necessary since there are plenty of banks who did not accept bail-out money. But you make a good point. I will be very selective with whom I deal. And I will support anyone who supports this:

H.R. 2755: Federal Reserve Board Abolition Act (GovTrack.us)

 

[Silence]

We will bail them out in the end. However, before doing so, they need to go through bankruptcy so that they can restructure their debts and renegotiate their union contracts. Once this is done, then the government can make the money available in the form of guaranteed loans.

Ford would be the exception to this as they may well make it through even without any bailout money.

I believe the point has been made the bankrutcy for the auto industry isn't the same as bankruptcy for other industries. Would you buy a car from a bankrupt company? I wouldn't. That's why people don't generally buy cars that are no longer being manufactured. There is no guarantee that your warranty will be honored or that the parts will be available for repairs.

I do laugh at the notion that the BIG 3 haven't made some pretty big concessions. it's like they want blood from them before they'll give them one penny. What a vast different between them and the banks huh?!

and I love seeing all these "pro american" conservatives who will, on principal, abandon our auto industry. that's really smart.

I saw this report the other day that said prior to Reagan taking office American was the biggest exporter of manufactured goods and the smallest importer of natural resources and we owed the least amount of money to other countries. Now it's exactly the opposite... smallest exporter, biggest importer and in the most debt....

 

[Ravi]

Sorry, my next door neighbor sells fords. He sold us our two cars and he's a good man. I will continue to try to keep people like him employed.

I think that if we are going to give $700 billion to the banks with no strings attached, then we should at least bail out the big 3 as well.

In truth, the banks never should have been bailed out, but it's hypocritical to bail out the banks with no strings attached and then turn our backs on the big 3 and any other company in this country that needs help.

Exactly. The GOP sent out an action alert last week urging everyone to be against the bailout because to them it is a golden opportunity to destroy the unions. As far as I can tell, the GOP is really interested in one thing...the GOP. I'd bet that the majority of those that have jobs because of the big three aren't part of any union...including car salesmen and all the employees of the other support industries.

 

[Paulie]

That's not necessary since there are plenty of banks who did not accept bail-out money. But you make a good point. I will be very selective with whom I deal. And I will support anyone who supports this:

H.R. 2755: Federal Reserve Board Abolition Act (GovTrack.us)

Everbank is the best one I've seen so far. If you're a member of USAA, they have a great banking department as well.

 

[WillowTree]

I believe the point has been made the bankrutcy for the auto industry isn't the same as bankruptcy for other industries. Would you buy a car from a bankrupt company? I wouldn't. That's why people don't generally buy cars that are no longer being manufactured. There is no guarantee that your warranty will be honored or that the parts will be available for repairs.

I do laugh at the notion that the BIG 3 haven't made some pretty big concessions. it's like they want blood from them before they'll give them one penny. What a vast different between them and the banks huh?!

and I love seeing all these "pro american" conservatives who will, on principal, abandon our auto industry. that's really smart.

I saw this report the other day that said prior to Reagan taking office American was the biggest exporter of manufactured goods and the smallest importer of natural resources and we owed the least amount of money to other countries. Now it's exactly the opposite... smallest exporter, biggest importer and in the most debt....

This news should make you happy.. it's always been the left's position that the USof KKA has been too big, too important, too arrogant, consumed too much.. now that it's the opposite you should be happy! Buy Toyota, you get much more for your money and it won't break down..

 

[editec]

History of bailouts for the wealthiest segement of our society to date:

1982-92 Mexico Argentina brazialn debt crises - Saved the banks which lent to them

1984 - Continential Illinoise bank - $ 4 billion FED, treasury and FDIC resuce package

Late 1980s - Discount window bailouts - Fed provides loands to 350 weak banks which failed later

1987 - Post stock market dive resue - Massive liquidity provided by FED including rumors that the FED secretly propped up the futures market

1989-92 - Saving and Loans bailouts - $250 billion to Saving and loans banks which were specualting on commercial real estate ventures

1990-92 - Citibqank and Bank of New England - 4 Billion to help BEN then Saudi Arabia infused money intop Citibank at the insistence of our government

1994-95 - Mexican Peso rescue - US Treasury supports the peso to backstop investing banks which bought up high yield Mexican debt.

1997 Asian currency bailout - US gov pushed IMF to rescue East Asian currencies to save American lenders

1998 Long term Capital Management bailout - Greenspan arranges bailout for shakey hedge funds with powerful diomestic and foreign connections

1999 - Y@K response - Liquidity pumped into system to ease Y2K concerns which pumps up final NASDAQ Bubble before it crashed

2001 -05 - Post stock market crash - FED cuts rates to 46 year low thus creating bubbles in investment markets and real estate market.

2007 - STructured inbvestment vehicle and subprime mortgage bailouts -- Paulson psrposes superfund to resucre top banks and negotiates subprimes morgage relief.

2008 -- well I guess we all remember those bailouts, right?

Notice that every one of these bailouts helped the superwealthy and banking community and stock market investors, too.

Socialism for the rich, capitalism for the poor, just as we liberals keep telling you people has been going on for our entire lifetimes


sourceage 57; Bad Money by Kevin Phillips, publisher: Viking Press c. 2008

 

[editec]

I saw this report the other day that said prior to Reagan taking office American was the biggest exporter of manufactured goods and the smallest importer of natural resources and we owed the least amount of money to other countries. Now it's exactly the opposite... smallest exporter, biggest importer and in the most debt....

And STILL nitwits insist that free trade is GOOD for the economy.

Go figure.

 

[Lycurgus]

I saw this report the other day that said prior to Reagan taking office American was the biggest exporter of manufactured goods

I would be very interested in viewing this report and knowing who produce it.

 

[bk1983]

Everbank is the best one I've seen so far. If you're a member of USAA, they have a great banking department as well.

Yup, USAA is head and shoulders above the rest.