Auto Makers Need $125 Billion to Survive

"the companies would probably be back to ask for as much as $125 billion"

Yeah, sure they do. I'm tired of hearing it is all for the workers when they are going to pocket the dough and lay people off!!

If they were SO WORRIED about WORKERS and their industry, why did they OUTSOURCE and OFFSHORE so many factories?

Not ONE DAMN DIME!!!!

"Automakers return to D.C. with revised pitch; Pledge to make their firms lean, their cars better" by Michael Kranish, Globe Staff | December 5, 2008

WASHINGTON - Amid warnings of a cataclysmic impact on the economy, the top executives of the Big Three automakers and the United Auto Workers pleaded yesterday with a skeptical Senate panel for a $34 billion lifeline to stay in business while they remake themselves into leaner companies that emphasize fuel-efficient vehicles....

Yeah, after flipping everyone the finger for years! Which is what they are getting right back from me!

Mark Zandi, a Moody's economist who was praised by members of both political parties, delivered a stark warning that the companies would probably be back to ask for as much as $125 billion.... Senator Chris Dodd of Connecticut, the panel's chairman, backed the plea for help, saying that if the automakers fail, the consequences would be severe and sweeping throughout the economy....

Then WHY did you guys PROMOTE OUTSOURCING and OFFSHORING with TAX BREAKS?

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Dodd began the hearing by saying that the Bush administration could take the money from the previously appropriated $700 billion for the financial industry, an idea that House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid also suggested in a letter yesterday to President Bush, but that the White House has consistently opposed.

Notice how they scramble for corporations but have nothing for homeowners?

"No matter how important the autos are to our economy, we don't want to put good money after bad," Bush said in an interview aired last night on NBC.

Just going to INSULT HIS WAY right out the door, ain't he?

Dodd also said that the Federal Reserve Board could loan the money, just as it has done for some financial institutions. Some senators said the companies could be given some money from a previously appropriated $25 billion fund that was supposed to be used by the automakers to retool their factories to build hybrid and electric vehicles.

Yeah, they ALEADY GOT $25 BILLION, so go away, thieves!!!! They just see Wshington handing out taxpayer cash and want their chunk using the same stale fear tactics, etc!

Dodd repeatedly blasted the Bush administration and the Federal Reserve Board for rejecting his request to send representatives to the hearing to explain why they weren't using existing pools of money to help the automakers. After the hearing, an angry Dodd told reporters that Treasury Secretary Henry Paulson should return from an overseas trip to deal with the crisis....

WTF?

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