What is the case for bailing out US Auto Makers?

[Just Win]

I know Dodge and GM were in merger talks just a month or so ago.  I haven't heard anything since, but maybe after it's all done there will be only two. 

now that we have some time to reconnoiter it would appear that your rosy pie in the sky merger scenario did not work out. we now have the president of the United States opining over such micro issues as how much dodge chrysler should be allowed to spend advertising and what gm dealership should be allowed to stay open. what a mess! instead of allowing these corporations to go into LEGAL bankruptcy and reorganize, rhambo and president obama are running them into ground from the back porch of pennsylvania avenue while imposing political bankruptcies that stiff the contractual (you know that little thing we call contract law that the saul alinsky types can't stand) creditors and give the remaider to tony soprano and crew so they have some funds to raid and wheel and deal with in addition to the union pension funds. your post sure looks rather lame on monday morning.


Need a car loan?

[NCVol]

How long did it take to find that post from November?  It was correct, BTW, here's a link

http://www.businessweek.com/bwdaily/dnflash/content/oct2008/db20081017_939535.htm?chan=rss_topStories_ssi_5

As to the rest, turn off of Fox news and CNBC and you might not have the same one sided partisan opinion of what happened with Chrysler.  With those guys, apparently, bankers are sacred and if a banker loses money, it's a "free market failure."  As far as I can tell, the job of the Feds with Chrysler was to do like they did with the rest of the banks and come in and loan billions to keep Chrysler humming while the bankruptcy proceeded to ensure a disorderly liquidation didn't happen, guarantee the big contingent liabilities, and pay off the other creditors who loaned money to a failing enterprise 100 cents on the dollar.

See risk has no downside for the Wall Street entitlement assholes.  They want their gigantic returns with the downside guaranteed by you and me.  And if the workers at Chrysler get screwed and lose their pensions and healthcare to make sure hedge funds get 100 cents, well all the better since those guys probably vote for democrats. F**k em. 

It's pretty amazing to watch when the right wingers are cheering for hedge funds.  Did these sophisticated investors not understand that bonds issued by struggling automakers carry a high risk in exchange for the high payoffs?