Big Three Bailout

[sctx]

Originally Posted by tommy

Kyle, who would have thunk it 10 years ago?

you could tell it was goin places, I mean it did have a Dairy Queen AND a flea market

[tommy]

Originally Posted by sctx

you could tell it was goin places, I mean it did have a Dairy Queen AND a flea market

should have known when the HEB went in..

[sctx]

Originally Posted by tommy

should have known when the HEB went in..

dude, that store is the shiite...... you need GPS to navigate it though

[roni]

I still believe that the govt should go in with overwhelming force and money.

I have a difficult time thinking otherwise. People as diverse as Robert Reich and Ben Stein and Tommy agree with me

Save Citigroup and let the car industry go down?

That would be a stroke of stupidity never before seen in the history of humankind

[sctx]

Originally Posted by roni

I still believe that the govt should go in with overwhelming force and money.

I have a difficult time thinking otherwise. People as diverse as Robert Reich and Ben Stein and Tommy agree with me

Save Citigroup and let the car industry go down?

That would be a stroke of stupidity never before seen in the history of humankind

4 weeks ago, CitiGroup was trying to buy out Wachovia....... what's wrong with this pic????

[roni]

Originally Posted by sctx

4 weeks ago, CitiGroup was trying to buy out Wachovia....... what's wrong with this pic????

Car industry.

Jobs

Manufacturing

What does that have to do with Citi and Wacky?

[tommy]

Originally Posted by sctx

dude, that store is the shiite...... you need GPS to navigate it though

or a couple of hours and a couple of tokes!!!

Originally Posted by roni

I still believe that the govt should go in with overwhelming force and money.

I have a difficult time thinking otherwise. People as diverse as Robert Reich and Ben Stein and Tommy agree with me

Save Citigroup and let the car industry go down?

That would be a stroke of stupidity never before seen in the history of humankind

CITIGROUP dont buy no car loans!!!!!

Originally Posted by sctx

4 weeks ago, CitiGroup was trying to buy out Wachovia....... what's wrong with this pic????

too many tokes and too much time!!!

[sctx]

Originally Posted by roni

Car industry.

Jobs

Manufacturing

What does that have to do with Citi and Wacky?

nuthin really, but manufacturing vast amounts of inventory to sit and collect dust doesn't make sense either .......... Saturday Nite Live got it right this weekend spoofing the Big 3 hearings

[sctx]

Originally Posted by tommy

or a couple of hours and a couple of tokes!!!

you up for a tour manana???

[tommy]

Originally Posted by roni

Car industry.

Jobs

Manufacturing

What does that have to do with Citi and Wacky?

well it has a lot to do with it....Wacky was one of the largest indirect lenders for the auto biz, allowing people to buy all those cars that the factories sold and shipped to the dealers, Citigroup aka citifinancial was also a huge lender in the indirect side of auto lending, as well as HSBC, Americredit, Chase, Chase Subprime, Wells Fargo, Bank Of America, USbank, Compass, Capone (capitol One) etc etc, they are all gone except chase and wells, that means no loans....also the big3 captive lenders, ie. FMCC, GMAC, CFC have all dried up as well, that means no loans or very limited amount of loans....no loans, no car sales=big trouble for big3....

[tommy]

Originally Posted by sctx

you up for a tour manana???

wont be home till 5:30ish but Wed...fosho!!!

[Jacko]

Originally Posted by sctx

4 weeks ago, CitiGroup was trying to buy out Wachovia....... what's wrong with this pic????

Nothing...it made absolutely perfect sense...scale matters...ask Wells Fargo.....a merger of two of the top three auto makers may still be in the offing....eventually...

Citigroup got hammered even harder in the market AFTER Paulson changed positions on how he would use the bailout money....

roni is right....

[horizon200]

Found this article a good read...rather long, but he tells a good story of GM.

Where GM went wrong: Let me count the ways - Nov. 24, 2008

If Washington wants to bail out GM, it's fine with me. A lot of short-term angst will be avoided, and taxpayer money has been spent for worse purposes. But you have to wonder whether the insular, self-absorbed culture that still dominates GM is up to the job of restructuring the company quickly enough to make it profitable and competitive again. GM has been on a downward path ever since I began covering it. What is going to make it different this time? As painful as bankruptcy may be, it would give GM the leverage it needs to redo its labor contracts and dealer franchise agreements, downsize the company, recruit new management, and position itself for an economic upturn in 2010 that would enable it to regain some fraction of its former glory.

[MikeW]

Originally Posted by sctx

4 weeks ago, CitiGroup was trying to buy out Wachovia....... what's wrong with this pic????

Citigroup was buying Wachovia with bailout money, not their own money. They were already in trouble. They were pissed when when WF went in there and offered a lot more for Wachovia, WF doing so without bailout money.

[SunKneeMarie]

Originally Posted by sctx

nuthin really, but manufacturing vast amounts of inventory to sit and collect dust doesn't make sense either .......... Saturday Nite Live got it right this weekend spoofing the Big 3 hearings

"Sorry we're late... car broke down on the way here."