Chrysler turns down Federal loan because of pay rules!

[Dans 68]

http://www.washingtonpost.com/wp-dyn/content/article/2009/04/20/AR2009042002156_pf.html Glad to see it!

Dan

[Ghoste]

Good for them.  Oddly enough the same predators who made that decision have no problem going to the guys in the factories and telling them that if they don't accept pay cuts their going to close their plants and let them starve.

[Dans 68]

Agreed. But rather than digress into a white/blue collar discussion I would rather see our favorite uncle just stay out of the markets altogether and let the big boys sort it out amongst themselves. And I mean really get their sticky appendages out of the markets. Unfettered capitalism is really the only way to achieve prosperity. 

Dan

[Ghoste]

I agree with that too Dan. (the hypocrisy of it pisses me off still but I do think they are making a good choice)

[68charger383]

Dont' forget these are the same guys saying:

No E/P ++ for 2009 Challengers....MSRP only.

If you won't buy them, we'll just store them in the Yukon.

Per that article, sales this quarter are down 46% from this time last year.

[Ghoste]

I didn't know about that one!

[twenty mike mike]

"The incident is the latest controversy to illustrate the hazards confronting the Obama administration as it sets out to assist control private firms."

[Fitz73Chrgr]

Agreed. But rather than digress into a white/blue collar discussion I would rather see our favorite uncle just stay out of the markets altogether and let the big boys sort it out amongst themselves. And I mean really get their sticky appendages out of the markets. Unfettered capitalism is really the only way to achieve prosperity. 

Dan

I agree with this as well

[Ghoste]

I can't help but wonder if this means that all along they haven't been in nearly as bad shape as they are crying?

[twenty mike mike]

I can't help but wonder if this means that all along they haven't been in nearly as bad shape as they are crying?

It means they're expecting a huge infusion of Lira. 

Yeah, yeah, I know they've transitioned to the Euro. 

[Todd Wilson]

I can't help but wonder if this means that all along they haven't been in nearly as bad shape as they are crying?

I've said this all along that Chrysler isnt in that bad a shape and it was nothing more then a "me too" deal when the government was handing out cash to other places. They had 10billion in cash last fall.


Todd

[bull]

I've heard of a few companies that are raising private money to pay the feds back asap so they don't have to be under its thumb any longer. Layoffs are bad but socialism is worse.

[Ghoste]

Isn't socialism just a professional layoff?

[twenty mike mike]

A number of banks want to return the TARP money they were forced to take, because they don't like the limitations on actions and salaries that came along after the money. Turbo Tax Tim says they can't give the money back, but as long as they have the money, they have to abide by the gubment rules. I guess Catch 22 is Tiny Tim's favorite book.

[chargerboy69]

A number of banks want to return the TARP money they were forced to take, because they don't like the limitations on actions and salaries that came along after the money. Turbo Tax Tim says they can't give the money back, but as long as they have the money, they have to abide by the gubment rules. I guess Catch 22 is Tiny Tim's favorite book.

I just recently wrote a five page paper on this very subject for class.  If the government has money invested in the banks, then they can control the banking system. Here is a great article about it.

http://online.wsj.com/article/SB123879833094588163.html

[bull]

Isn't socialism just a professional layoff?

No, it's the president of the USA telling the GM board of directors to fire their CEO. Or is that communism?

[Ghoste]

I'm pretty sure it's all the same, only the mask and clever public acceptance plan changes.