My thoughts on the detriot big 3

[GreenBook 10+ year member]

No they do not, specifcally.
Have you ever read the Treasury Accords?

http://www.richmondfed.org/publications/research/economic_quarterly/2001/winter/leachhetzel.cfm

Click Read Full Article

No, offense, don't feel like wasting an hour of my day reading 23 pages of stuff about banking.

 

[GreenBook 10+ year member]

I guess I missed when AIG became a major financial institution. Can anybody name the companies who got the bailout?

I don't have a list for who aig hands money out too, but:

$800 billion to support mortgage consumer debt

$100 billion for Fannie Mae

$100 billion for Freddie Mac

$150 billion for Stimulus package (from January)

$8 billion for Indymac

$29 billion for Bear Stearns

$ 700 billion for Wall Street ( Bank of America; Merrill Lynch, City Group, JP Morgan, Washington Mutual, Wells Fargo; Wachovia, Morgan Stanley, Goldman Sachs...)

$143.8 Billion for AIG ( which keeps growing)

$25 Billion for the big three in Detroit

$138 billion for Lehman Brothers (post bankruptcy) through JP Morgan

$50 Billion for money market funds

$ 620 billion for general currency swaps from the feds

Not to mention, the feds recent supply of new credit lines to Brazil, Mexico, South Korea, and Singapore to "help those countries deal with the global credit crisis." The feds will start at $30 billion and have promised up to $100 billion dollars per country.

 

[azimuth 5,000+ posts]

I don't have a list for who aig hands money out too, but:

$800 billion to support mortgage consumer debt

$100 billion for Fannie Mae

$100 billion for Freddie Mac

$150 billion for Stimulus package (from January)

$8 billion for Indymac

$29 billion for Bear Stearns

$ 700 billion for Wall Street ( Bank of America; Merrill Lynch, City Group, JP Morgan, Washington Mutual, Wells Fargo; Wachovia, Morgan Stanley, Goldman Sachs...)

$143.8 Billion for AIG ( which keeps growing)

$25 Billion for the big three in Detroit

$138 billion for Lehman Brothers (post bankruptcy) through JP Morgan

$50 Billion for money market funds

$ 620 billion for general currency swaps from the feds

Not to mention, the feds recent supply of new credit lines to Brazil, Mexico, South Korea, and Singapore to "help those countries deal with the global credit crisis." The feds will start at $30 billion and have promised up to $100 billion dollars per country.

numerous mayors are asking for money as well. philli, detroit, and a couple others. the entire state of california needs money.

 

[bumpweLL.nYc 10+ year member]

^yes NY is dire for money too, although the Governor just spent $25,000 of taxpayer money on rugs for his mansion. GO SCREW

 

[duece212 5,000+ posts]

Listening to Barney Frank speak is painful //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[Lugnutz 10+ year member]

The 25 billion to the big 3 is not part of the bailout //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif That was a fund set forth to help them improve their plants and upgrade technology for fuel efficient vehicles.

 

[snoopdan 5,000+ posts]

Listening to Barney Frank speak is painful //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

agreed, its about like chewing nails.

 

[duece212 5,000+ posts]

The 25 billion to the big 3 is not part of the bailout //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif That was a fund set forth to help them improve their plants and upgrade technology for fuel efficient vehicles.

They are talking about taking the money from that fund as well as TARP, the bailout pool.

 

[snoopdan 5,000+ posts]

Man chevy's really trying to push the volt. Too little, too late //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif

and no one is going to buy that shit at 35k

 

[Lugnutz 10+ year member]

They are talking about taking the money from that fund as well as TARP, the bailout pool.

I don't understand why they can't front them that money.

 

[duece212 5,000+ posts]

I don't understand why they can't front them that money.

Because the big 3 don't have as many friends on the hill as big banks do //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

 

[Lugnutz 10+ year member]

All they got is Carl Levin //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

Blue collar workers are beneath the politicians

 

[snoopdan 5,000+ posts]

Yep the blue collar worker is going to get the shitcan on this one. Watch.

 

[duece212 5,000+ posts]

Yep the blue collar worker is going to get the shitcan on this one. Watch.

GM and Chrysler need to merge, keep their line workers and get rid of redundant middle management.

 

[Flipx99 5,000+ posts]

No, offense, don't feel like wasting an hour of my day reading 23 pages of stuff about banking.

Then don't comment on how the banking system works until you understand it. I quit listening to talk radio because he proposes dissolving the Federal Reserve. There is a bajillion pages of empiracle evidence why Monetary Policy shouldn't be conducted by legislatures. It even failed in the US, several times.

The 25 billion to the big 3 is not part of the bailout //content.invisioncic.com/y282845/emoticons/fyi.gif.9f1f679348da7204ce960cfc74bca8e0.gif That was a fund set forth to help them improve their plants and upgrade technology for fuel efficient vehicles.

It was passed in conjunction with the TARP.

I don't understand why they can't front them that money.

Because they don't want believe the impact will be significant. The people represented are calling their representatives, telling them to quit bailing people out.

Yep the blue collar worker is going to get the shitcan on this one. Watch.

Both blue and white. I am white, but not white enough to get above the fray here.