Bush considering "orderly" auto bankruptcy

[NewLCD123]

http://news.yahoo.com/s/ap/20081218/..._ge/bush_autos

Excerpt:
WASHINGTON – The Bush administration is seriously considering "orderly" bankruptcy as a way of dealing with the desperately ailing U.S. auto industry.

White House press secretary Dana Perino said Thursday, "There's an orderly way to do bankruptcies that provides for more of a soft landing. I think that's what we would be talking about."

President George W. Bush, asked about an auto rescue plan during an appearance before a private group, said he hadn't decided what he would do.

But he, like Perino, spoke of the idea of bankruptcies organized by the federal government as a possible way to go.

"Under normal circumstances, no question bankruptcy court is the best way to work through credit and debt and restructuring," he said during a speech and question-and-answer session at the American Enterprise Institute, a conservative Washington think tank. "These aren't normal circumstances. That's the problem."

My comments: See link for full article. I am happy if they won't be bailed out as this will waste our taxpayer money and encourage moral hazard. Other companies will be begging for a bailout too. We can't open Pandora's box by bailing out the incompetant auto company. Let them go bankrupt and start over from anew with new workers. Yes millions of jobs will be lose but millions of jobs will be created.

[hatt]

I wish Bush would stay the hell out of doing anything else for the next month. I think they can manage for another month until Obama gets sworn in.

[admo]

Originally Posted by hatt

I wish Bush would stay the hell out of doing anything else for the next month. I think they can manage for another month until Obama gets sworn in.

Didn't Obama warn Bush last month that Bush was going to have to do something about the auto industry before Obama is sworn in? Ford may make it until inauguration day, but the other two may not.

[Ntruder]

The final phase of the War on the Middle Class...

[Nexgenrulz]

Originally Posted by Ntruder

The final phase of the War on the Middle Class...

Begins when Obama takes office.

[hatt]

Originally Posted by admo

Didn't Obama warn Bush last month that Bush was going to have to do something about the auto industry before Obama is sworn in? Ford may make it until inauguration day, but the other two may not.

Use your head brother, if 30-60 days is going to bankrupt them, do you really think they could be saved right now by any sensible means? Didn't Bush just give um like $15,000,000,000. Yeah I guess you could just give them a checkbook and tell um "hey, keep up the good work, whatever your need, we'll give you" but that doesn't sound sensible to me. Fuck, we'd be better off paying the people to stay home, at least then GM and Chrysler wouldn't be pissing away money on materials they don't need to build a bunch of cars people won't buy. Doom and Gloom grandstanding, plain and simple. If someone is giving money away, you get in line with your sob story.

[Ntruder]

Originally Posted by Nexgenrulz

Begins when Obama takes office.

Gosh you just don't have a clue, do you?

[tcarcio]

Originally Posted by hatt

Use your head brother, if 30-60 days is going to bankrupt them, do you really think they could be saved right now by any sensible means? Didn't Bush just give um like $15,000,000,000. Yeah I guess you could just give them a checkbook and tell um "hey, keep up the good work, whatever your need, we'll give you" but that doesn't sound sensible to me. Fuck, we'd be better off paying the people to stay home, at least then GM and Chrysler wouldn't be pissing away money on materials they don't need to build a bunch of cars people won't buy. Doom and Gloom grandstanding, plain and simple. If someone is giving money away, you get in line with your sob story.

I could not have said it better. Hopefully they will be forced to go chapter eleven before Obama is in because he will just open our pockets for them.

[Nexgenrulz]

Originally Posted by Ntruder

Gosh you just don't have a clue, do you?

Oh I have a clue. I've read Rules for Radicals by Saul Alinsky. I know exactly where Obama gets his ideas. You should try reading it. You might learn something. Now if you excuse me, I have about 6 inches of global warming on my driveway that needs shoveled.

[Ntruder]

Originally Posted by Nexgenrulz

Oh I have a clue. I've read Rules for Radicals by Saul Alinsky. I know exactly where Obama gets his ideas. You should try reading it. You might learn something. Now if you excuse me, I have about 6 inches of global warming on my driveway that needs shoveled.

Oh man, I love people like you. You make me feel SOOO much better about myself!

Its snowing, freezing, I've got a shit ton of work to do today and the roads are terrible...

BUT AT LEAST I'M NOT AS DUMB AS THIS GUY!

[Cygnus]

I guess the "organized" bankruptcy will help eliminate some "organized" labor...

[Cygnus]

How much snow did u guys get? We got about 4 inches...

Originally Posted by Ntruder

Its snowing, freezing, I've got a shit ton of work to do today and the roads are terrible...

[Ntruder]

Originally Posted by Cygnus

How much snow did u guys get? We got about 4 inches...

About 10 inches in a matter of 6-8 hours. My snow tires came just in time! (yesterday afternoon)

[Ntruder]

Originally Posted by Nexgenrulz

Oh I have a clue. I've read Rules for Radicals by Saul Alinsky. I know exactly where Obama gets his ideas. You should try reading it. You might learn something. Now if you excuse me, I have about 6 inches of global warming on my driveway that needs shoveled.

Ok Nexgenrulz. I'm going to teach you something about climate.

*(I'm sure you won't get this, because it involves science and facts; two things you aren't fond of)

Our planet is (was) filled with lots of ice, primarily at the poles. They act as a "stabilizer" to our climate. With the increased greenhouse gasses in our atmosphere (global warming), much of that ice has melted off, or is melting at an alarming rate.

All that ice melting means there is lots of extra moisture in our atmosphere, which does many things:

-It uses a lot of heat to melt that ice
-Adds a lot of clouds (dense water particles)
-Leads to short term colder temperatures (less solar radiation making it to the surface due to heavy cloud cover, and heat being lost melting the ice)
-Causes heavy storms, due to the increased moisture levels in the sky
-Causes huge snow storms and more violent rain storms

So when you right wingers say things like "global warming? Yeah right, look at all this snow! I say there's global COOLING!" You are really just revealing your own ignorance; demonstrating that you don't understand anything about climatology.

The fact is, SHORT TERM effects of global warming ABSOLUTELY INCLUDE heavy snowfall, colder temps, violent storms, etc.

But like I said, you "Facts-optional" conservatives probably don't care about well documented scientific facts when making your ridiculous claims and forming your ridiculous opinions...

[F91]

Truda- This is a text book case of wasting your time. Remember, there are STILL people around that think Bush did a great job. Some people, you just can't reach.

BTW- We are supposed to get about 12" tomorrow, on top of the 6 we already have. It's 19 degrees here, near Seattle!!! this is NOT our typical weather. We get the "Boy, this global warming stuff sure is cold" crap here too. It's actually getting pretty funny. It's like the people that stayed in Europe. You know, cause the earth is flat.....