GM CEO resigns at Obama's behest

[truffles 2]

If I was a business I would be extremely hesitant to accept money from the government - it usually comes with conditions and then you lose control. In regard to AIG etc - if the government has simply let economic nature take its course none of this bonus payments would even be an issue. American is supposed to run on capitalism?

I suggest you take a look at the UK's economic history during the 70's pre Thatcher years to see how privatisation affects the people - I always was told Americans prefer less government interference?

[The_Dude 1,142]

If I was a business I would be extremely hesitant to accept money from the government - it usually comes with conditions and then you lose control. In regard to AIG etc - if the government has simply let economic nature take its course none of this bonus payments would even be an issue. American is supposed to run on capitalism?

I suggest you take a look at the UK's economic history during the 70's pre Thatcher years to see how privatisation affects the people - I always was told Americans prefer less government interference?

Giving them a blank check to continue their failed business model is a good idea?

If they were seeking bridge financing from an outside source, the finance bank would insist on provisions to correct the businsess model to become profitable again. In the case of American Auto Companies.... STOP MAKING PIECES OF ####### and trying to pass them off as competitive with Japanese/German autos.

[I'm Gone 60]

In regard to AIG etc - if the government has simply let economic nature take its course none of this bonus payments would even be an issue. American is supposed to run on capitalism?

Yes that is what should have happened. There are good parts to AIG and another company or companies would buy the profitable pieces and the rest would be gone.

[mRx 16]

I really hope people are starting to open up to the fact that bailouts are wasteful, penalize all Americans, and create an atmosphere that rewards failure

Or is it still possible to blame the failure of the GM bailout on the vile market?

The tree is dying. How much more must we suffer before we let it go?

[mRx 16]

If I was a business I would be extremely hesitant to accept money from the government - it usually comes with conditions and then you lose control. In regard to AIG etc - if the government has simply let economic nature take its course none of this bonus payments would even be an issue. American is supposed to run on capitalism?

I suggest you take a look at the UK's economic history during the 70's pre Thatcher years to see how privatisation affects the people - I always was told Americans prefer less government interference?

LOL!

The government won't give you any money unless it helps their own individual interests.

The AIG bailout was a shell game designed to get you and I, the taxpayers, to bailout the favored mega corporations who'd invested into AIG.

Paulson orchestrated the bailout, but ironically he was also the CEO of Goldman Sachs, the biggest beneficiary of AIG bailout money.

[Danno 1,228]

The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed.... end of story.

Trying to find controversy when there is none is just being petty.

Ahh Fancy pants you crack me up.

You guys climbed over every inch of the 9-11 film looking for evidence of Bush rigging the building with c-4 yet with Obama.... you can't entertain that the -Dots might be connected-

[Heracles 417]

Giving them a blank check to continue their failed business model is a good idea?

If they were seeking bridge financing from an outside source, the finance bank would insist on provisions to correct the businsess model to become profitable again. In the case of American Auto Companies.... STOP MAKING PIECES OF ####### and trying to pass them off as competitive with Japanese/German autos.

That is funny because the best selling cars in Europe are Ford and GM products.

1. Vauxhall/Opel Astra: 437,673 -6.2% GM

3. Ford Focus: 418,490 +2.2%

6. Ford Fiesta: 353,296 +8.4%

The problem here is that people demanded and still demand dumbass monstrosity vehicles. Don't blame the manufacturer for the choices of idiots here.

PS You do realize the F150 is pretty much still the best selling vehicle in America.

[Heracles 417]

Ahh Fancy pants you crack me up.

You guys climbed over every inch of the 9-11 film looking for evidence of Bush rigging the building with c-4 yet with Obama.... you can't entertain that the -Dots might be connected-

Even a rock could have seen that coming. Liberal Yank politics 101. Take Bill Maher as an example, "if you don't vote for Obama you are racist and doing so because he is black. Now go vote for the first black president!" How do you put any sense in people like that?

But I have to say, Obama is doing a good job. I disagree with him on the auto industry but with most other things he is doing the right thing.

Edited March 31, 2009 by Constellation

[Heracles 417]

The government won't give you any money unless it helps their own individual interests.

The AIG bailout was a shell game designed to get you and I, the taxpayers, to bailout the favored mega corporations who'd invested into AIG.

Paulson orchestrated the bailout, but ironically he was also the CEO of Goldman Sachs, the biggest beneficiary of AIG bailout money.

Of course, they are bloody crooks. Fire the CEO of a company which produces a Cadillac yet bailout and throw billions to the CEO's chauffeured in a Cadillac. Plus permit the actual people responsible for worsening this mess to keep millions in commissions each. People who are not even located in America.

Those bankers in the UK must be literally laughing at the Old Glory all the way to the bank.

Edited March 31, 2009 by Constellation