AIG is going to get another bailout!!! Along with the Auto Industry.
By grammasnook
@grammasnook (1871)
United States
November 10, 2008 8:49am CST
Now this is going way overboard, I heard this on the news this AM. More than likely it will be passed and they are trying to get it passed while Bush is still in office.
They are not sure if it will come out of the current bailout or not. AIG is asking for another 150 billion, each one of the Automobile businesses are asking for 50 billion each. I just don't get this, all I have to say is they have to have some big brass ones to ask for this. Not only will our tax dollars pay for the Auto industry but then we have to pay ourtageous amounts to own a car.
This is a reason to write and protest. I understand that many Americans will lose thier jobs and the economy will totally tank but there has to be another solution to this. What it may be I do not know.
How outraged are you if this does go through?
4 responses
@spalladino (17891)
• United States
10 Nov 08
I've heard this morning the spin that this "may" be part of the original bailout and I really would like to hear some specifics instead. Someone mentioned Circuit City already but I also heard that DHL is shutting down a large plant in Ohio that will cripple the town according to residents. Who's next? These bailouts really do need to stop. I have a good, personal friend who is originally from Detroit but my opinion is, let the automakers fall. I already find the price of a new car/truck objectionable.
@grammasnook (1871)
• United States
10 Nov 08
The sad part about this whole thing, is it is the Bush adminstration that started this great bleed. Remember congress and senate only have the information that is given to them. As the same with any band wagon all will jump on because they bailed out the ones that started this whole mess.
Now it will be you are descriminating against the smaller businesses and so forth.
@grammasnook (1871)
• United States
10 Nov 08
Why is it a bailout and not a loan? Let all the ceo's put thier houses and all thier collateral up the same as the regular Joe needs to do. Funny how it all comes to head at the end of the Bush administration as well, coincidence?
@grammasnook (1871)
• United States
10 Nov 08
Here in Mass car dealers are closing like crazy, what about where you live?
@newtondak (3946)
• United States
10 Nov 08
I'm afraid we're just throwing good money after bad - the government (i.e. the American people via their tax dollars) has already loaned the major automakers monumental amounts of money - supposedly to revamp their factories to make more energy efficient cars (which none of can afford to buy).
I think we all need to send our own proposals in for the free money that WE need to bail us out of our financial problems - it works for the automakers, the insurance companies and the banks!
@grammasnook (1871)
• United States
10 Nov 08
You are absolutely right, and the idea of writing our own proposals would definately send a very strong message. Great Response my friend!
@grammasnook (1871)
• United States
10 Nov 08
Hell christmas is the last thing on lots of people's minds I think finding away to get through the winter with heating thier home is a big one. Sure gas came down, home oil somewhat but electric and gas did not budge. My husband worries about christmas too but my youngest son will just have to do with whatever we can afford to get him. He will be making homemade gifts this year for family members.
@lilwonders456 (8214)
• United States
10 Nov 08
Well I heard today that Circuit City is in trouble. Are we going to end up bailing them out too? I can hear it now, they are closing stores and laying off people, we have to bail them out. But then if they dont then I guess they are saying people that work at circuit city dont matter and the people at the big three and AIG do matter. Bit of a double standard.
This is getting out of control. Where is this money coming from to pay for it? Our national debt just keep growing and growing. We keep printing more and more worthless money. We are making things worse on ourselves.
@newtondak (3946)
• United States
10 Nov 08
I don't think any of that will change - I am not confident that Obama will have any impact on this type of thing.
@lilwonders456 (8214)
• United States
10 Nov 08
Guess they should have investing money in a lobbyist so that they could have been saved too.
THat is what it is coming down to. The companies with lobbyist in washington are getting bail outs, the ones that don't are not getting any help. So the only companies worth saving in our elected officials opinion are the ones giving them "gifts" and contributing major money to their election campaigns.
And the shady unethical pratices just keep going. When will this maddness stop?
