Posted under Economics
Barak Obama said last night he doesn’t want the Feds to run a car company and he’ll get his wish for Chrysler today will head into bankruptcy because it could not work out a deal among lenders to salvage the company, probably because (and this is just my speculation) the Feds weren’t willing to put enough money forward to satisfy bondholders and other lenders.
But if AIG was threating to go under, well all they have to do call Tim Geithner and say “Either give us another $80 billion or we pull the plug,” and the money would be in their accounts in no time.
A nation that became a superpower based on what it made has traded its muscle for silly hands that count money every day. If no man, no party or anyone can make a populist issue of this against the Administration, then we deserve to be a one-party country.
Topics about Lenders » Billions for AIG but not one red cent for Chrysler on 30 Apr 2009 at 8:13 pm #
[...] Conservative Heritage Times put an intriguing blog post on Billions for AIG but not one red cent for ChryslerHere’s a quick excerptBarak Obama said last night he doesn’t want the Feds to run a car company and he’ll get his wish for Chrysler today will head into bankruptcy because it could not work out a deal among lenders to salvage the company, probably because (and this is just my speculation) the Feds weren’t willing to put enough money forward to satisfy bondholders and other lenders. But if AIG was threating to go under, well all they have to do call Tim Geithner and say “Either give us another $80 billion or we p [...]
roho on 30 Apr 2009 at 11:05 pm #
“MOTOWN” is motown for a reason? Were it in Omaha Nebraska with a union base made up of Christian White Menonites, they would be toast!………Toast!………Only because the higher agenda of “WEALTH RE-DISTRIBUTION” drives this administration is the auto industry even relevant?……If large numbers of African/Americans worked in the “Shrimping Industry” in Brownsville Texas, it would be the “Magic Negro Economic Project”!
America’s true middleclass is actually over this “Court Jester” with a teleprompter, and it ain’t going to get any better!
Chris Hewlett on 01 May 2009 at 9:37 am #
Didn’t Chrysler get a few billion bucks back a couple of months. GM and Chrysler took the money and Ford turned some down?
Patroon on 01 May 2009 at 12:33 pm #
Yes Chrysler got a few billions, notice the word few, and plenty of strings attached and restructuring requirements for their trouble. The financials did not have to jump as many hoops as the car companies had to to get their bailout. As I said, if tomorrow AIG said it needed another $80 billion to survive it would get what it want no questions asked. The fact that Chrysler is going into bankruptcy leads me believe (and again this is just speculation) that the investors in this deal wanted the Feds pony more money and guarantees on their end.
Roho, what does race matter in all of this? It’s virtually all-black city plus black autoworkers who will suffer with Chrysler’s bankruptcy and are suffering with the problems in the auto industry. A lot fat good Obama did for them.