Obama DENIES bailout funds for GM and Chrysler

Discussion in 'Politics' started by DavidS, Mar 29, 2009.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Obama denies bailout funds for automakers - Yahoo! Finance

    WASHINGTON (AP) -- 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.

    President Barack Obama and his top advisers have determined that neither company is viable and that taxpayers will not spend untold billions more to keep the pair of automakers open forever. In a last-ditch effort, the administration gave each company a brief deadline to try one last time to convince Washington it is worth saving, said senior administration officials who spoke on the condition of anonymity to more bluntly discuss the decision.

    Obama was set to make the announcement at 11 a.m. Monday in the White House's foyer.
     
  2. Sinatra
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    Sinatra Senior Member

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    Good - hope this proves to be correct.
     
  3. wimpy77
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    wimpy77 Member

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    he's basically giving gm two months and chrysler a month to shape up. i actually agree with this. he cant keep propping up a dead industry.
     
  4. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    I'll reserve judgement until after the 30 and 60 day windows end, but I'll give him credit for this at least. Now if only we hadn't wasted all that money on them in the first place.
     
  5. elvis
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    elvis BANNED Supporting Member

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    wow, this is HUGE.. Publius Infinitum said he bought GM stock a few weeks ago. It's going to plummet tomorrow.
     
  6. DiveCon
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    DiveCon gone

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    yup
    hope he has a sell order on that

    and WTG Obama :clap2::clap2:

    lets just hope he doesnt cave in later
     
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  7. DavidS
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    DavidS Anti-Tea Party Member

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    Damn. I have a price limit of $2.99. It's at $3.62 right now. Think we'll be below $2 by 4 pm tomorrow?
     
  8. elvis
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    elvis BANNED Supporting Member

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    I would guess so. PI had better get on the phone with his broker in the morning. You got a stop-loss. is that what you mean?
     
  9. wimpy77
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    wimpy77 Member

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    hmmm i think you might below that by 10 am. like i said if they can't restructure its their fault. i think the companies didn't take the government at their word. now they know the government is serious.
     
  10. elvis
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    elvis BANNED Supporting Member

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    i thought about buying 1000 dollars worth of shares of that shit. Glad I didn't.
     

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