Obama should let GM go bankrupt, two GOP senators say - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 52 Old 03-08-2009, 11:20 AM Thread Starter
 
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Obama should let GM go bankrupt, two GOP senators say

WASHINGTON -- Two influential Senate Republicans said Sunday the Obama administration should led General Motors fall into bankruptcy.


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post #2 of 52 Old 03-08-2009, 11:46 AM
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McCain has a point as the UAW (or any union, imho) is goign to run these guys into the groud...

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post #3 of 52 Old 03-08-2009, 01:15 PM
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and what about AIG...?

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post #4 of 52 Old 03-09-2009, 07:07 AM
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McCain has a point as the UAW (or any union, imho) is goign to run these guys into the groud...
x2 UAW and other big costs are a big part of the problem.

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post #5 of 52 Old 03-09-2009, 07:27 AM
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What if they do and it ends up starting a wave of layoffs and bankruptcies, maybe leading to a depression? From what I've been reading thats what they're afraid of. I'd like to see all those on Wall Street and in Washington brought to justice. They don't even try to hide the corruption anymore, its like the Soprano's on sterioids. From what I've read, they can't stop the banks from collapsing and its just a matter of time before they nationalize them. So while they're working out the politics, they're throwing our tax dollars down a black hole. AIG has gotten 170 Billion tax dollars, and they hardly ever mention that in the MSM. IMO GM failure is more a result of this bubble economy the banks created than UAW. I just want my Camaro before the whole thing falls.

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post #6 of 52 Old 03-09-2009, 07:55 AM
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So while they're working out the politics, they're throwing our tax dollars down a black hole. AIG has gotten 170 Billion tax dollars, and they hardly ever mention that in the MSM. I just want my Camaro before the whole thing falls.

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post #7 of 52 Old 03-09-2009, 08:57 AM
 
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I agree that this is all a product of what the banks started. However, even if GM does go bankrupt, good things will happen. Ford and Chrysler would also in that case go under most likely, and All three would simply restructure and come back as a stronger company. I would love to see all three pull out of this, but even if they don't, you won't just not be able to get your camaro. GM is already rid of Saturn, Saab, and Hummer. They have already spent the money on the plant for camaro production, so whether they claim bankruptcy or not, they will still have the car. Either way, the sky can't fall too much...
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post #8 of 52 Old 03-09-2009, 09:13 AM
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Quote:
Originally Posted by dbotsfordtat View Post
What if they do and it ends up starting a wave of layoffs and bankruptcies, maybe leading to a depression? From what I've been reading thats what they're afraid of. I'd like to see all those on Wall Street and in Washington brought to justice. They don't even try to hide the corruption anymore, its like the Soprano's on sterioids. From what I've read, they can't stop the banks from collapsing and its just a matter of time before they nationalize them. So while they're working out the politics, they're throwing our tax dollars down a black hole. AIG has gotten 170 Billion tax dollars, and they hardly ever mention that in the MSM. IMO GM failure is more a result of this bubble economy the banks created than UAW. I just want my Camaro before the whole thing falls.
This is already going on with or without GM filing chapter 11. Suppliers are closing their doors in the Detroit area left and right, has been going on for a year or so already.

The Camaro is the least of GM's worries.

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post #9 of 52 Old 03-09-2009, 09:15 AM
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Quote:
Originally Posted by mj469 View Post
I agree that this is all a product of what the banks started. However, even if GM does go bankrupt, good things will happen. Ford and Chrysler would also in that case go under most likely, and All three would simply restructure and come back as a stronger company. I would love to see all three pull out of this, but even if they don't, you won't just not be able to get your camaro. GM is already rid of Saturn, Saab, and Hummer. They have already spent the money on the plant for camaro production, so whether they claim bankruptcy or not, they will still have the car. Either way, the sky can't fall too much...
GMs situation has little to do with the banks.
GM has had management and other issues for many years, this is the end result of their own internal issues as well as the economy outside of the corporation.

Regarding the banks, don't forget to share the blame on the majority of Americans living on credit, buying crap they had no business buying, things they could not afford, going after ARM and balloon mortage notes. Quite a bit of stupidity got us where we are today.

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post #10 of 52 Old 03-09-2009, 10:29 AM
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IMO GM is already getting all the negitive effects of bankruptcy without any of the positive effects. IMO bankruptcy would only make things better for them.

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