Government piggy bank closed?

[TheCatt]

Car parts makes denied $

Another round of bankruptcies may soon rock the auto industry - this time, involving the companies that supply major automakers with parts.

The AP reports, "The Obama administration has turned down a request by auto suppliers for up to $10 billion in additional federal aid to help the parts companies deal with the bankruptcies of General Motors and Chrysler." An industry group had requested $8 billion in loan guarantees from the Treasury department. The administration's auto's task force reportedly "told industry leaders they had already provided plenty of support but didn't see the need for further action."

Neil De Koker, CEO of the Original Equipment Suppliers Association, told CNN
that "widespread bankruptcies throughout the sector would likely result" from the move. De Koker claimed that "Hundreds of suppliers are facing a cash crunch due to long production shutdowns at Chrysler and General Motors," and "he fears that many suppliers won't be able to ramp up production once Chrysler and GM start building vehicles again."

The Detroit Free Press adds, "At least 16 [parts suppliers] with U.S. operations already have gone bankrupt."

The Wall Street Journal speculates that "The Treasury Department's rejection of the supplier industry's bid for aid signals that the Obama administration wants to draw the line on how much taxpayer money it will spend on the U.S. auto industry."

[GORDON]

The car part manufacturing lobbyists aren't as good as the UAW lobbyists.

[Vince]

I was just going to say they must not be union shops.

[Malcolm]

The car part manufacturing lobbyists aren't as good as the UAW lobbyists.

Echo.

[GORDON]

So how much do we all enjoy living under the rule of a bought-and-paid-for government?

[Malcolm]

So how much do we all enjoy living under the rule of a bought-and-paid-for government?

Oddly enough, I read some fucking article today about how Prez. Diamond Joe Quimby's approval rating has slipped 5% & people are now distinguishing between "liking B. Rock" & "liking B. Rock's policies." For some fucking reason, they still love the dude, even if they hate the shit he's doing. It's incredible.

[Vince]

Support for his policies are starting to tank. Bill Morris said his personals will soon start following. He said long term you can get by with people liking your policies, but not liking you, but not the other way around. They can still like you as the ex-president.

[Malcolm]

I think greater scams have been pulled off than mindfucking the general voting American populous for four years.

Edit in italics



Edited By Malcolm on 1245385015

[Leisher]

So spend billions bailing out the auto companies, but ignore the death of the people who supply them with the parts so build cars?

I don't agree with any of the bailouts, but if we're going down this road, shouldn't there be some logic to it?

[TheCatt]

Well, the government already bailed them out once, providing large loan guarantees to the suppliers several months ago.

I think they've seen that *GASP* bankruptcy works fine, and know that the companies will be able to declare, reorganize, and either get their shit together, or die.

[TheCatt]

I don't agree with any of the bailouts, but if we're going down this road, shouldn't there be some logic to it?

Oh, and about the whole "going down the road" thing, we have to stop going down that road eventually. I'm all for sooner rather than later.

[GORDON]

Maybe some sort of government grant could help us finance the process of the stopping of going down that road. Which politician is for sale next?



Edited By GORDON on 1245417927