Auto Bailout Could be Announced by Wednesday

Reuters ^ | Tue Dec 16, 2008 11:33am EST

[UCFRoadWarrior]

Because the 14 to 25 billion spent on this auto bailout will be a lot a cheaper than the 100s of billions that it would cost for benefits, welfare, and retraining for millions losing their jobs in an auto manufacturers bailout.

I am sure the non-American market types in the GOP will not like this....but its time for them to stop the “Domo arigato Mr Toyota” crap and return to America....esp that their foreign automakers (US taxpayer subsidized) will be whacked if the US auto makers fail

[lone star annie]

I think he has lost his mind. He looks old and crazy to me. When the Congress voted that 700 billion that gave Paulson a blank check to spen any way he wanted.

Boy were we snookered. Bush is going to be handing out this money as he wants. He may give each illegal crossing the border a few thousand as they come in. He will go down in history as one of the worst Presidents ever. He will be competing with LBJ and Carter for the lowest of the low.

He has been such a disappointment. I never regretted my support for Nixon, but I regret supporting GWB. Richard Nixon never betrayed the people who put in the office. Remember the Silent Majority? He was always on our side unlike GWB. GWB destoyed the careers of many good Representatives and Senators thanks to his ineptness.

[TChris]

If this happens, I will not buy another UAW-made vehicle again.

FWIW, I did not buy a Chrysler product until they had repaid the government loan they received. They repaid it quickly.

I will also never buy a Harley Davidson motorcycle for similar reasons.

[Liberty1970]

Once the White House opened its big mouth and indicated it would not let the Big 3 fail on Bush's watch, this basically became a done deal. And that's how the markets interpreted it, because auto industry stocks have been amazingly stable since then (albeit at a pittance their price from a few months ago.)

Bottom line is, the WH feels like it can't renege now, so it's stuck coming up with something to tide things over until Obama comes into office.

[mono]

One last stick in the eye of conservatives by Bush!

[ZX12R]

If this happens, I will not buy another UAW-made vehicle again.

Same here. I am going to buy a new full size pick-up. I've been waiting to see if this happens. Toyota and Nissan have been taking an increasing chunk of that market, because their quality is top notch, and you get more truck for the money. Let this bailout happen, and many buyers will force an avalanche away from the big three.

[fortheDeclaration]

We can’t get that damn Bush out of office fast enough to suit me. What a loser!!!

Amen!

[fortheDeclaration]

We would have to assure ourselves that this was a step on the path to long-term viability," Paulson told Fox News.

The reason the industry is in trouble is because Americans are not buying the cars.

Is that going to change?

[fortheDeclaration]

Because the 14 to 25 billion spent on this auto bailout will be a lot a cheaper than the 100s of billions that it would cost for benefits, welfare, and retraining for millions losing their jobs in an auto manufacturers bailout.

The American auto industry, like any other industry, must compete on the market.

This money is just throwing good money after bad.

[berdie]

Given the state of the economy, even the foreign automakers are hurting. So who is going to buy new cars right now?

Since this bailout has already been voted down, this just isn’t right. And the open checkbook given to Paulsen is just ridiculous.

[JoeGar]

I am going to buy a new full size pick-up. I've been waiting to see if this happens. Toyota and Nissan have been taking an increasing chunk of that market ...

My Chevy truck leaks at its front windshield; my Ford truck leaks at its rear window. Hmmmm ... that new full-size Toyota Tundra, made in Texas by non-UAW labor, is looking better every day.

[wmfights]

(I was going to say Countrymen but, nah) too that list

I know the feeling.