Hahahaha Best CNN Link EVER!!

[CanadianGTR]

http://money.cnn.com/2009/03/05/news/companies/GM_10K/?postversion=2009030506

At least if they go bankrupt they can sell off their assets and repay all of the "loans" that were extended to them. Seriously though, how many handouts do they need? This morning they were interviewing the head of the CAW and he was saying how ALL other countries in the world are bailout out their industry and automotive sectors.. and that Canada/USA are the only ones who are making a stink about it. Well jeez, maybe it's because the money that goes to Honda, Nissan, etc... actually GOES to Honda, Nissan, etc... not to the pockets of the union. All they are doing by bailout out the big three is bailout out their pensions.

Enough is enough... pull the plug. The news of a one TRILLION dollar bailout didn't help the markets, so if we're doomed anyway, why are we handing out money to the same people that got themselves into the situation the first place? This is natural selection in it's finest hour... and we're ******* it up. Survival of the fittest, not bailout the weakest.

[Neal]

you touch on a very good point... lots of finger pointing by the american public as to who caused this mess and the majority fail to point to the root culprit... the american public.

if you couldn't pay the mortgage why did you take it. (greed maybe?)... Banks can offer whatever they want if people were smart and responsible and only accepted loans they could actually pay this wouldn't have happened, period no and ifs or buts. They are the root cause and they still have not stepped up to the plate to take ownership. so when they complain about why should our tax money go to fix this issue i laugh... because who ever caused it should pay for it therefore i see no problem with trying to use tax payer money to fix it :P

[CanadianGTR]

Oh for sure.
But the banks shouldn't have loaned money to people they should have known couldn't pay it back. The fact that you can just walk away from your house/mortgage down there doesn't help things either.

[JD74]

The banks should just finally, once and for all force them into receivership and sell off their assets to repay the loans and call it a day.

The world (as well as our Country) has bigger problems than bailing out Auto Manufacturers, Airlines and other organizations that still pay out Millions of Dollars to VIPs, Execs ans such without even blinking.

You are right. Enough is enough.

This is almost as rediculous as sending money to 'Children of Africa'...a completely FUTILE enterprise because by the time the money gets there, it's only a fraction of it's original sum and there are another million or so b@stard children to feed.....LOL

Some times you just can't win.....and have to know when to muck the hand you were dealt, or get up from the table completely.

[PH_Motorsports]

all i can say, is things are going to get alot worse before they get better....

Be smart with your money

[GTR-Dad]

you touch on a very good point... lots of finger pointing by the american public as to who caused this mess and the majority fail to point to the root culprit... the american public.

I think the public wrongly trusted those responsible for regulating the financial sector. Living on credit is a good recipe for a rude awakening, but responsibility for undermining the integrity of the entire financial system is better assigned to those who run it. Ineffective regulation allows the baser side of human nature to take over and we're living the result.

Ultimately, the public votes the government in and the government is responsible for regulation, so it all comes back to the public. Except those who didn't vote! (How's _that_ for logic?!)

Dan

[Turismo]

There is more wrong with this country and world then most of you can even imagine. Take one night of your life and read over some of the links found on this website. This is the very sad truth we have come to believe is right.

Please.

http://www.captaincanadacrusades.ca/

[Neal]

you can sugar coat it all you want but when it comes down to it no one put a gun to anyones head to take those loans. there is only one person responsible and thats whos signature is at the bottom of that mortgage agreement.

guy on the corner offers you some crack for free on the corner are you gonna take it?

this is the same thing with trying to blame fast food companies for making people fat, like come on. they are the ones who went there, bought it and ate it, and then they want to blame the companies? get real this shift in blame and inability to take responsibility is gettin a little tired imo.

will people make mistakes yes. but at least take ownership of it instead of trying to blame others. they go to "re-regulate the banks" it wont solve anything and it won't prevent a similar scenario from happening because it didn't address the root problem.

[GTR-Dad]

will people make mistakes yes. but at least take ownership of it instead of trying to blame others. they go to "re-regulate the banks" it wont solve anything and it won't prevent a similar scenario from happening because it didn't address the root problem.

I'm actually agreeing with you.

The root problem is that many (most?) people are stupid. That's not going to change.

The smart people who get to run the show are greedy. That's not going to change.

The government is responsible to keep the smart greedy people honest.

The people elect the government.

Goto above.

:?

Dan

[Turismo]

The smart people who get to run the show are greedy. That's not going to change.

The government is responsible to keep the smart greedy people honest.

The people elect the government.

there is one major problem with this.

The smart greedy people own the government.

They can control them.

The people have little to do with it.

[GTR-Dad]

there is one major problem with this.

The smart greedy people own the government.

They can control them.

The people have little to do with it.

I can see more than one major problem from where I'm sitting!
The people have little to do with it because they are easily manipulated by cleverly presented images.
Flawed as our democratic system is, it's still better than the other options I've seen.

If everyone on GTRC promises him and herself to pay attention to what the government is doing, apply critical thinking, engage others in the process, and communicate your conclusions to the government, then this thread will have done some good in the world.

Cheers,
Dan

[Neal]

Hey Dan i hear ya, its just fustrating to watch :hit newb: lol

but hey me and my buddies have been shorting ever since Bear Stearns fell so i guess i shouldn't be complaining...

Thing is though i dont think people get the education during highschool to figure these things out when they get older. They should offer a mandatory course about personal finance in highschool.

[Daryl @ RightDrive]

Here are two interesting quotes from Chrysler and the CAW President today:

Chrysler threatened to pull out of Canada if it can't slash its labour costs

"We're being forced into opening our collective agreement and making sacrifices. We're standing firm. We're not moving off the pattern."

It's absurd that anyone should ask the autoworkers to make sacrifices!!! [/sarcasm]
Hmm, they really don't think that Chrysler will actually pull out of Canada if they can't cut costs? What is better, taking a pay cut or having no job at all. This is just ridiculous now.

I heard that Ford was asking the Government to consider giving a $3500 break to people who buy a new car (regardless of make). Now someone is thinking.

[PH_Motorsports]

I heard that Ford was asking the Government to consider giving a $3500 break to people who buy a new car (regardless of make). Now someone is thinking.

Ford is saying: Instead of giving us bailout money. Consider offering the public $3500 rebate, if they upgrade a vehicle 10yrs or older for a new 09 model.

I think its a great idea

[Daryl @ RightDrive]

Ford is saying: Instead of giving us bailout money. Consider offering the public $3500 rebate, if they upgrade a vehicle 10yrs or older for a new 09 model.

I think its a great idea

that is actually a good idea, on many levels.