Wall Street tumbles as auto rescue bill dies in Senate
That’s what the link on Yahoo’s front page says anyway.
However, the article it links to is titled with the toned down headline:
Stocks extend losses amid worries about automakers |
More liberal crap from the media. They just can’t stand it that the DOW isn’t crashing after Senate Republicans refused to embrace Socialism last night. After the failure of the “American Socialist Experiment Act”, Senate Majority Leader Harry Reid (D-NV) predicted doom for the US markets today.
The White House and Treasury Department are acting as if the country will implode if one or more of the Big 3 goes BK. That’s ridiculous! And the liberal media is enjoying every minute, working hard to set the stage for a revolt against the Republican Senators who stood their ground and refused to embrace the Dems’ and Bush’s Socialist efforts.
These companies need to file for bankruptcy and reorganize with a business model that can be competitive in todays market!
This bailout is a temporary fix, if it’s a fix all. It’s like putting a bandaid on a severed arm. The bailout backers will be able to say they’ve done something, but nothing real will be accomplished. GM should have seen this coming earlier this year, but did nothing to prevent it. This article in May reported GM burning through it’s cash at a rate of $1 billion per month, and that’s before things really tanked! It’s probably been a lot worse for several months now.
Ford is the only one of the Big 3 not trying to suckle the taxpayer tit and that’s because it’s been working to reorganize for the last 2 years–without a cash infusion from taxpayers.
This bailout will only delay the inevitable. Until GM and Chrysler make real changes, totally reinvent their business model, they’ll be coming back to the trough time and again. The only way they’ll make those changes is if they’re forced to through BK–the sooner the better!
As I conclude the writing of this post, the DOW is currently down only 75 points.
Not quite the catastrophe the liberals predicted.
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Well … even hurricanes and tsunamis take awhile as they build up into catastrophe … you sound a little too anxious, bordering a personal vindictive desire, to to set this great country of ours on fire …
“you sound a little too anxious, bordering a personal vindictive desire, to to set this great country of ours on fire …”
I respectfully disagree. I’m trying to keep Bush and the Dems from trying to put the fire out by throwing gasoline on it!
The bailouts are a sad testimony to our politicians lack of competence and the fact that G & C are what drive DC. Visit http://www.geezergator.wordpress.com
I didn’t know George Bush was a Democrat … so, the whole thing is about a few hysterical wolf-criers who approved every single crime proposed by Dubya but now prefer parading to the entire nation their old and worn out patriotic-bozo outfit … I’m sure they’re fully aware of the electoral consequences of their self-serving political acts … we are all watching them closely on CNN and everywhere else throughout the nation …
Actually, sir, we didn’t approve everything GWB did. You are correct that some did, but I have been disillusioned with the President for some time now. Staunch conservatives have questioned much of what he’s been doing, especially since 2004.
He and his cohorts in the Congress have even earned themselves a new nickname–RINO (Republican in Name Only) in the last few years. Duly named by real conservatives.
Our efforts here are to reverse the mistakes by GWB and these other RINOs.
Correct if I’m wrong, my dear fellow American, last I’ve heard, Bush’s cohorts are the very same who now propose job cuts … you’re so right … ‘cohorts’ suits them fine …