Future of America's auto industry
06-09-2009, 12:40 PM
#122
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I'll think about it, right after we're back to General Motors and right after Government Motors and the UAW become historical footnotes.
They - you know who they are - stiffed the shareholders and the bondholders. I think it's Unamerican and basically wrong. I am reminded that during the War of 1812 against the Brits, our fledgeling government had a choice to negate, confiscate, and keep for reparations all the money the Brits had invested in our economy and especially our banks. Fortunately, our leaders then had the foresight, courage, and the good sense to honor and repay those investments out of principle and according to law. Without shame, there can be no pride.
They - you know who they are - stiffed the shareholders and the bondholders. I think it's Unamerican and basically wrong. I am reminded that during the War of 1812 against the Brits, our fledgeling government had a choice to negate, confiscate, and keep for reparations all the money the Brits had invested in our economy and especially our banks. Fortunately, our leaders then had the foresight, courage, and the good sense to honor and repay those investments out of principle and according to law. Without shame, there can be no pride.
06-09-2009, 06:55 PM
#123
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I've gone 180 degrees on this. Some months ago, I was stating that I would buy a Fiat 500 as soon as it became available. Then more details came out: Chrysler welshed on some $5 billion dollars in loans owned by people like me.
GM announced that they were going to use our money to import cars manufactured in China; the predictable backlash stopped that one, but they're going to welsh on a bunch of debt owned by people like me.
Our legal system gives them the right to welsh on their debt; it is their right, if the courts agree.
However, I know beyond a shadow of a doubt, judges be damned, that it is my right never to spend a cent of my money doing business with someone who stiffed their creditors.
GM announced that they were going to use our money to import cars manufactured in China; the predictable backlash stopped that one, but they're going to welsh on a bunch of debt owned by people like me.
Our legal system gives them the right to welsh on their debt; it is their right, if the courts agree.
However, I know beyond a shadow of a doubt, judges be damned, that it is my right never to spend a cent of my money doing business with someone who stiffed their creditors.
06-09-2009, 09:41 PM
#124
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Originally Posted by RedY2KS2k,Jun 9 2009, 06:55 PM
Our legal system gives them the right to welsh on their debt; it is their right, if the courts agree.
However, I know beyond a shadow of a doubt, judges be damned, that it is my right never to spend a cent of my money doing business with someone who stiffed their creditors.
However, I know beyond a shadow of a doubt, judges be damned, that it is my right never to spend a cent of my money doing business with someone who stiffed their creditors.
The real loser, besides all of us, will be any company that dares compete against Government Motors. Who can compete with a company that can print its own money and doesn't need to turn a profit?
06-10-2009, 08:13 AM
#125
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As cynnical as I am, I still would not have believed such things could happen in this country. Investigative journalism is mostly dead, and the nation's law schools must have changed their curriculum while nobody was looking.
06-10-2009, 09:59 AM
#126
Nothing like a little panic among the people (justified or not) to herd them along the path most desirable to the bureaucrats and the politicians.
Based on most of what I see, the nation's law schools have shifted their emphasis to trial law.
Based on most of what I see, the nation's law schools have shifted their emphasis to trial law.
06-10-2009, 11:06 AM
#127
Originally Posted by RC - Ryder,Jun 10 2009, 11:13 AM
Investigative journalism is mostly dead,
06-10-2009, 07:05 PM
#128
Originally Posted by RC - Ryder,Jun 10 2009, 12:13 PM
As cynnical as I am, I still would not have believed such things could happen in this country. Investigative journalism is mostly dead, and the nation's law schools must have changed their curriculum while nobody was looking.
I am sure that yesterday that you all saw the media coverage of President Obama making a big deal out of the $2 billion "profit" from some banks paying back TARP money. Did you hear any coverage that two billion leaves us tax payers in the red another $16 billion dollars that we (Uncle Sam) is not likely at all to recover? 
06-11-2009, 06:38 AM
#129
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Didn't hear that. But, I did hear that these early fortuitous returns of TARP funds can be recycled again and again to other needy stimlation targets, rather than flow back onto the Treasury balence sheets. Where is the Monopoly money czar? I don't think that was included in the legislation that established the TARP funds.
06-11-2009, 06:45 AM
#130
Originally Posted by Matt_in_VA,Jun 10 2009, 10:05 PM
.... and who stated that the media is bias?