Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Auto Bailout Part 2

with 4 comments

I have wanted to believe that President Bush was at least partially a conservative with ethics that were cemented in what is right and what is wrong.  Well, the auto bailout (17.4B) just put me over the edge.  When is this non-sense going to stop?  Take Chrysler for example.  In 2007, Cerberus Captial Management firm purchased an 80% stake in Chrysler for $7.4B.  A year later, Chrysler is in trouble and their owners (who have the money) do not deem it a wise investment to fund Chrysler.

The story behind the story is that President  Bush’s former Sec of Treasury (John Snow) is now the Chairman of Ceberus.  So the bailout is just a means to “help out his friends” with a bad business decision.  You think that is bad, Dan Quayle (former VP) is also part of Ceberus as well.  We must stop the madness or thee won’t be any trust left in our leaders.  Let them file chapter 11.

Advertisements

Written by opinionoregon

December 20, 2008 at 9:28 pm

4 Responses

Subscribe to comments with RSS.

  1. I enjoy and respect your blog. Would you consider exchanging blogroll links?

    I don’t care about whether links and comments agree or disagree with my views as long as they are witty or intelligent, and your blog is both!!

    The only important thing is that we all have intelligent discussions about how to lift up America for our best possible future.

    Our future is what we make it, and idiot Congress and moron elected officials have proven by example that if we do nothing, we have no future.

    It helps to have some entertainment, satire and laughs along the journey.

    My blog address is http://franklynchusa.wordpress.com

    Simply name it “ franklynchusa ”

    If you have time and room,

    My ideological website is worth a visit. It contains my 2008 Presidential campaign that introduced the issues adopted by the other candidates, with a Top Ten List that America needs, is http://www.franklynch.org

    Kindly please name it either just “ franklynch.org ” or “ Frank Lynch the Futurist “

    With passion for our future,

    Frank Lynch the Futurist

    Email frank at franklynch dot org

    franklynchusa

    December 21, 2008 at 3:42 pm

  2. Like most Americans, I don’t support an auto bailout and don’t believe it will work (at least as currently conceived). (I didn’t support a financial company bailout either.) I’ve owned an American car for just about all my adult life, and hope to in the future. But I don’t appreciate being threatened, don’t think we should nationalize industry, and largely believe the automaker’s woes are of their own doing.

    King Jackson

    December 22, 2008 at 12:42 am

  3. Based on the testimony I heard, $15 Billion doesn’t come close to being enough. The combined impact of the Recession, the demand for American cars and the cost structure of the Big Three imply that number to be, as Mark Zandi suggested, one that approaches $100B.

    Charolette

    December 22, 2008 at 12:43 am

  4. […] Posted by Alex on December 30, 2008 Skip O’Neil points to something I missed: […]

    Cronyism « outsized ideas

    December 30, 2008 at 8:45 pm


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: