GMAC looking for third bailout

[andy158]

Here is the link http://www.pbs.org/newshour/updates/...mac_10-28.html When is this going to end?

[momisery]

When am I going to get mine? This will not end until we put American's back to work at jobs that pay. We can not do that while we export jobs and buy products from China. We can not build a strong economy on a housing boom/bust or a S&L or Wall Street boom or bust. We need manufacturing, and jobs. That has been over looked ever since Ronnie Reagon forward.

[kenshirley]

Why not? They are well aware that the money set aside has not all been given away yet.
Chrysler went under,OK the taxpayer now own them, maybe GM is next.
Only Ford and the foreign makers did not take money.
What's that tell you about the products that thinking of those that did?

And speaking of bailouts, my rent, my gas bill, my electricity bill and my co pays for what I have to pay for my medical insurance all went up this year, just to name a few increases in expenses.
But as a federal retiree who also has a very small SS retirement ($199), we get nothing for a COLA this year?
Yep, I am waiting for my bailout too.

[nc73]

I don't see how bailing out GMAC or any company for that matter will help the economy any. All it does is add to the national debt!

[andy158]

I agree. They need to fail and regroup as we have on this forum. Throwing more of our money at the problem isn't going to solve it. My life is changing for the better now that there is light at the end of the tunnel and it isn't a freight train! The US economy is going through changing pains and not all are going to be smooth transtitons.

[keepmine]

Yep, 3rd time's the charm. Time to pull the plug on GMAC and just deal with the aftermath.

[AngelinaCatHub]

All those companies should have risen or fallen by their own weight. That is what Capitalism is/was about.

The middle class is becoming the lower class for sure. We shall work and pay for the "chosen" people who are/were the poor. Those who stand in line for 'Bammy money.

Now, if you want change you can believe in, note the new names here on this Forum and if you have a PACER account you will see a daytime server overload.

Just my opinion. 'Hub

[OhioFiler]

When am I going to get mine? This will not end until we put American's back to work at jobs that pay. We can not do that while we export jobs and buy products from China. We can not build a strong economy on a housing boom/bust or a S&L or Wall Street boom or bust. We need manufacturing, and jobs. That has been over looked ever since Ronnie Reagon forward.

The "get mine" position is what keeps Americans from holding their government representatives to spending reasonably within a budget and the Constitution.

Putting Americans back to work at jobs that pay? What does this mean? Do we create jobs artificially with inflated pay rates? The truth is the free market should be what creates jobs ans sets the prevailing wage. It's the government intervention in this process that leads to so many of the woes we hear about today.

[momisery]

A free market does not create jobs in America.. so what is your plan? We export more jobs overseas? You see we had our eye off the ball. Incomes have dropped for the working class and credit has gone up since the late fifties per the dept. of labor BTW. That would be purchasing power of course. Yet, the wealth have gotten richer, and upper mgmt has gotten their raises so that instead of making 43 times more than the average American worker they now make 450 times more. Where I wages went is obvious, to the top. The took the money, because they are worth it, and then shipped out jobs overseas because we are not. Any time you doubt that incomes have risen think of the fifies. My dad worked in FACTORY and raised 7 kids. We somehow managed to buy a home, owned that for a few years and then a farm and the used equipment to run it plus livestock. While he was doing that, Dad managed to pay for his first wifes death in child birth the medical debt that comes with it and the extra help you need when that happens. Dad remarried and we now have 7 kids by 1950. His wife did not work until 1956 when the last one went to school, and then only worked because she hated the farm. We all worked on the farm, but within 2 years we no longer had a garden, had our own meat still but did not butcher it, our clothing was not homemade for the most part. Mom did for a year there try sewing a few special holiday items for me because I was so thin I could not wear anyones hand me downs. The hand me downs are no different than people buying at garage sales and I see a ton of that and have for years. We had a TV in 1955, we always had a washer and a dryer and refrig. A cooking gas stove nice one in fact, a freezer too. We had one older car and a brand new big car to haul all of around in. We saw the dr when we were sick and he did house calls. We had a nice warm house, and when mom went to work she bought furniture and we painted and put in carpet. We bought a new car every three years and it was not a cheap one either, and it was paid for in 3 years.

This morning they were taking about the bailout of GMC. The man who visited them and controled their spending said many times they came to him to okay 100 million and did not know what they were spending it on! They had their own little elevator that did not stop at the employees floor, they were so far removed from the workforce that they did not have a clue who they were or what they did. They blamed their troubles on in order: Gas prices, exchange rate, the recession, and uaw... never once questioning their own incomes or lavish offices, or the expenses they had paid for. The problem is greed and those who think they worked harder and are worth it for some reason. I have worked since I was a child milking cows twice a day seven days a week. Then at age 15 got a work permit and I have never stopped. I worked two jobs until I was 45. Yet I do not feel others were lazy, they were not... nor do I feel that college classes that I took taught me anything. I learned on the job, from those who could do the job. I am not worth more than everyone else. We all work hard, we all need a fair income.

[bktmom28]

I think it is crazy that they are asking for a bailout when they haven't even done what they were supposed to with the first 2! Wasn't it to help distressed homeowners? Huh... I am one of those distressed homeowners who has now walked away from my home because of the fact that they denied my loan mod stating that we could adjust our spending to make our payment. Well, we adjusted our spending, we stopped paying, and that is what it took for them to even contact us. Then they were willing to work with us. Too LATE! We are done with them and starting over. I think that there needs to be some MAJOR investigating into these companies and see where all this money really has gone. They jack up the consumers interest rates, screw us all over and expect us to pick up the tab. It just shows that this credit driven world we are living in is going to come crashing down all around them. I wish that we would all wake up and realize we are playing right into their hands. There is Hope out there for all of us willing to see Him and I don't mean our president!

[momisery]

Exactly, this is not a party line, or Bammy faults or Bush or etc... this is the whole system. A system that finds it reasonable to underpay people and then expect them to save and consume. What I mean by under pay is that you make so little that you have to rely on charity to get by! It makes no sense at all to expect a working person to ask for handouts. They never feel good about themselves if they live that way. I always compare years ago, and I know that.. but one more story. My Father was smart and my uncle was not. Yet my uncle had a job pumping gas, sold cigarettes, and supported his wife and 5 kids. They had a car, and apartment, and even bought a small modest home. They had all the modern conviences too, nothing fancy, but new and nice. If you work, you should be able to get by and save. The decision to buy types of food, insurance, save for retirement, should be yours by you making enough to not require charity from the rich, or the taxpayers. Pure stupid to me to make people work and ask for charity, how disheartening.

[OhioFiler]

The USSR provided everyone's needs to them.

[momisery]

ussr?? Really? Sort of like China? No, they don't. They actually give the wealth to the top in those countries. And the rest work and get charity from the government because wages don't pay enough to pay for housing, food etc. Sort of like we are right now.

[ish412]

ussr?? Really? Sort of like China? No, they don't. They actually give the wealth to the top in those countries. And the rest work and get charity from the government because wages don't pay enough to pay for housing, food etc. Sort of like we are right now.

Exactly. Quit letting party line rhetoric from elected officials who care absolutely nothing about your quality of life determine your ability to think for yourself.