Alarming News

September 25, 2008

What’s 25 billions when we’re giving away so much more?

House clears $25bn for carmakers

Hat-tip James.

Posted by Karol at 04:52 PM |
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What’s going on with McCain’s eye? Has he had some sort of stroke? Is this why he blew Letterman off?

Posted by: bryan at September 25, 2008 at 5:28 pm

I would soooo start a business if I could get the government to bail me out when I started losing money.

Posted by: Eric at September 26, 2008 at 2:48 am

I just love how this got passed with no public debate or acknowledgment. If I’m coughing up tax money to “help” a business, I want a stock certificate.
BTW, notice that Toyota’s like, “Whatever dude, we’re still kickin’ your a** next year”? Maybe that’s an indicator that this isn’t money well spent.

Posted by: James at September 26, 2008 at 8:01 am

The real indication that the money isn’t well spent: why didn’t the private sector jump in front of the federal government, if the returns will be so good? After all, GM’s president has argued for a couple of years now, these aren’t giveaways, but loans that will be repaid.
So why isn’t the private sector willing to take? Because that would mean private investors lending their own money, not someone else’s, and private investors aren’t counting on GM turning itself around. They don’t have the luxury of dismissing losses with “Oh well, taxpayers, you got screwed.”

Posted by: Perry Eidelbus at September 26, 2008 at 9:40 am

What’s up with Bryan’s desperate rumor-mongering? Is he incapable of real conversation? Or is he just a douchebag?

Posted by: InquiringMind at September 26, 2008 at 11:57 am

Fuck That! If they want to help the auto industry, they’ll get rid of CAFE standards that force them to build shitty little cars that nobody wants, and nobody buys. Then they’ll be profitable. Fucking democrats.

Posted by: Casca at September 26, 2008 at 2:35 pm
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