I have been following the problems and solutions being formed by the american government. I am curious why the american people are not upset that they are paying $1,000,000,000,000 (that's 1 trillion) to bailout a bunch of rich faggots in suits who created this mess. AIG is getting roughly 150 billion dollars in aid and just this week announced plans to payout "bonuses" (for running a company into the ground I assume) to the tune of $503,000,000 or about 1/3 of the bailout. If I were an American I would be out for blood. I live in Canada a great socialist nation where the government is expected to bail people out. America is built on an entirely different foundation. If you fail, you cut your losses and start again. They are trying to save a sinking ship. How about a "reset". Your computer freezes, you reset it. You don't just say "Well shit, now I will work at a fraction of the speed."
Reset, everyone take the losses that are coming, then rebuild. Luckily I am poor so basically I have nothing to lose. Again, it is the rich that created the problem and you the taxpayer who are going to pay for it. Do something! Call your congressperson, youe senator, get the word out before it's too late! Or is it too late already?
Joe P!

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In short, yes. The car companies need the money. If the "big three" go under ALOT of people will lose jobs. If the money given is used to help the companies and keep people working, I think that is quite worthwhile. But if if like AIG, 1/3 of the money given is handed out as bonuses who is that helping? When Lee Iaccoca
took over a drowning Chrysler in the late 80's he took a salary of $1 a month until the company was turned around. I think that is responsible management.
The money given needs to be given in a different way. Greedy people shouldn't have control of the funds. Maybe the govt should take the money and issue car coupons to people. Banks don't want to lend money. So the buyer would go into a govt. financial institution. They are approved and get a coupon good for whatever amount to use at a big three dealership. Lets say $20,000. So you take your coupon, goto the dealership and get the car, hand over the coupon. The car is purchased. Government pays the amount from the "bail out", everyone is happy. Upper management doesn't steal the money. Cars are moving, people are working and the economy goes round and round. Then again the automakers could just be given a cheque and told to be smarter this time. (sic)

Edit: To answer sheeps question call your leaders and let them know that you won't forget them when your great grandchildren are still paying for all this. Do some research on Neel Kashkari (Cash and Carry, what an ironic name) and goldman sachs. It all just one big old boys club and john Q public is not a member. A few good sites to check out:
http://www.infowars.com
http://www.drop.io/dailysourcecode
http://www.dailysourcecode.com the official site of my second favorite podcast behind VGN. Adam will help you to wake up to whats happening around you. Everyone shopuld check it out.

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I feel bad for them, but the American car companies kinda deserve this. They stopped innovating and they stopped trying until foreign car companies started dominating in the US. It's their own fault that they're in this mess.

I don't want to see them go under, but I think its likely that they will.

I live in Canada a great socialist nation where the government is expected to bail people out

Canada is NOT a socialist country. You guys have some socialist programs like your health care though. The only western nation that's a socialist state is Portugal. Socialism is mainly contained to Eastern Europe and Asia.

What are you talking about anyway? You DON'T know whats going on. You think you do because you read Alex Jones' bullshit. 

Before you start to criticize and understand other countries and their governments maybe you should start with your own. Do most canadians say that their country is socialist? What do you think all the money we gave to Europe after World War 2 was for? What do you think the Korean and Vietnam wars were for? It was to contain communism and stop the west from becoming Socialist. It was largely a success.

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  First off, I don't think we need all three car companies.  I think America needs at least 1 company.  Which should probably be Ford.  They have the best cars of the three, the highest safety ratings, and their customer satisfaction has been up lately.  In addition, they have European models which are very fuel efficient and can bring them over to the U.S. now without waiting for a "plan" like GM.

  We certainly don't need Chrysler.  They were owned by the Germans until very recently when they were bought by an American investment company.  They are a shadow of their former selves and I think that this 25 billion will be used for nothing more than to allow GM and Chrysler to merge.  Because they asked for the money originally to do that, and were denied.  So now they are saying they are out of money instead. 

  We need domestic auto production for military purposes.  Trucks, Cars, and other vehicles are the backbone of the military and are provided by subsidiaries of Ford and GM.  So they'll get their money.  But congress should have split the three companies up into different funds.  And possibly chosen Chrysler to die.

  As for the AIG bailout.

  It's very complicated.  What happens is that two investment companies might strike up a deal.  One might loan money to another in the form of a security.  This security is insured by AIG.

  If AIG crumbles, the insurance on these securities is void.  And that would cause the investment companies to get VERY worried.  They'd stop buying and lending.  Which is what is happening right now.

  The U.S. Government is giving them money to shore up their insurance investments.  To keep the company afloat.

  But here's the issue.  Nobody knows how bad the problem is.

  Basically, your banking industry is sitting on bad debt.  The United States has about 350 billion left of the 700 billion they asked from Congress.  Other countries have also distributed money out.  We're probably talking a few trillion dollars invested to keep the banking industry alive.

  The fear is that the debt may be as high as 60 trillion.  And that the world Governments are putting a band-aid on a room full of dead people. 

  Now, the banking industry won't loan money out because they are hoarding cash.  They are hoarding cash because their loans are going bad.  They need the cash to have capital.  So that if the loans DO go bad, they can pay off their investors with their cash reserves and stay solvent.

  The problem is, none of the banks have enough cash to back all their bad loans.

  So nobody is trading loans (Liquidity)  And businesses and even the consumer are hard pressed to get a loan unless they have fantastic credit.  In addition, banks are trimming existing credit lines to reduce their potential for collapse.

  You might get a statement in the mail that says your credit card limit is being reduced. 

  What gets more horrifying is that there could soon be a run on credit cards.  If the credit card market collaspses, that will be it.  We'll be over the hill and things will come crashing down.  Worldwide.  It's a SERIOUS problem.  So serious that nobody is talking about it for risk of widespread panic.  That's how bad it is.

  On the bright side, the Governments of the world have inexhaustable resources to use to prop up banks, pay debts, and save companies.  They can borrow money forever to fix this problem, but at some point we all have to pay it back, and it's going to be ugly.

  The only thing that could happen is that the banks might relax and stop hoarding cash.  If they start loaning again and can get their own debts backed up by the federal government, then the nation (as well as the world) can continue doing business.

  This is what the AIG and CITI bailouts are about.  To reassure the banks that they will be in business.  The banks, unfortunately don't believe the Fed, and markets are tight. 

  It's not looking so good right now.  I'd say we're 50/50 on surviving this thing.  If it gets any worse...  Boy...  It could get really really bad for you an Me.

Real bad.
K

NutMan wrote  nimbus wrote Most americans are too stupid, the way Republicans like it. I remember watching this video from the 80's about this republican talking about how they DON'T want people to vote. That way, they can win. But that's another story. Right because of that little known secret about American elections where if no one votes then the Republican party automatically wins by default.

No, it's called stopping the "other folks" from voting.

Haven't heard of many problems that Republican voters have when trying to vote. For some reason, those that vote Democrat tend to have more problems, like minorities. Lies like you might go to jail or get deported if you vote lol.

Shouldn't you be wearing a Palin '12 sticker?

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Enter the Age of nimbus

Whatever the government decides to do, they need to have better control of where the money goes.

Kevin, you make a great point. If GM gets a big chunk on money, they're simply going to by Chrysler, effectively solving nothing. 

I agree that Chrysler should probably die. They bring nothing to the market.

Ford and GM on the other had I think are more essential. As a resident of Michigan, the positive financial impact Ford and GM have on Michigan is the only thing keeping our miserable economy afloat. If Ford of GM failed, the state would be in serious trouble. 55% of the people I know are employed or connected to the Industry in some way.

The Government's approach with CITI is also much better. They need to stabilize the bank and get things flowing again.

Throwing money at things does work.

Hopefully, now that the government's had time play with millions for a few months, they'll distribute the money in a way that won't allow everything to collapse. If it does....things will become insanely different very quickly.

Jesus H. Christ.  Did any of you guys see the new plan that the Fed is doing?  It's gone completely bonkers now...

A few days ago, the press was talking about what Obama was gonna do with the left over 350 billion when he gets into office.  Dude...  Forget that.  The Fed just spent it and added about a trillion more dollars to it as well.

Rather than go back to congress and get grilled asking for more money, the Fed is going to print about half a trillion dollars in new money.  YIKES!!!

That means higher inflation.

This plan won't hit until February.  That means Obama will be in office and he'll be wanting to roll out his half a trillion+ stim plan on top of this.

Folks...  We're heading for a meltdown.  The U.S. Dollar is gonna take a massive beating and inflation is going to rise.  Rise in a big way.  If you can afford to buy some extra canned goods, better get them now, because food is gonna cost more soon.

Wow...  This situation is fucked.  We're printing more money than it took to get to the moon.  If this doesn't work...  Weee....  I might move to Canada while my money is still worth something.  Haha...

Bailout is now totalling around $7,000,000,000,000. (trillion)
CNN link to the story :
http://money.cnn.com/2008/11/26/news/economy/where_bailout_stands/?postversion=2008112613

I wonder where the bottom is? Wait till VISA comes begging for cash. At what point is a company "too big to fail"?

I can see the Amero coming into use, but I think we are going to bytes. Debit cards, credit cards, gift cards, coffee cards, it's all just bytes. What are these bytes of information based on? Are there any hard assets backing them? Is the dollar in my account actually worth anything? bEver tried to buy gold? Actual gold in your hand. Takes about 3 months.
Some schools are initiating hot lunch programs requiring the students to just swipe a card. (Google "hot lunch card" and read a few articles) Does this look like programming for future bank and credit card use? Hook em young and you have them forever.

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