"We have changed management aboard," he said. "And where we've done that, we've done it because we thought that was necessary to make sure these institutions emerge stronger in the future."

When asked if he would leave open the option to pressure a bank CEO to resign, Geithner replied: "Of course."


http://www.cbsnews.com/blogs/2009/04...y4911030.shtml

 

If the government can oust a CEO from a car company or from a bank, couldn't they fire my boss, me, you, or anyone they damn well please? 'Cause if they can, there is something seriously wrong with our country right now.

 

Change.

 

No, the car companies came crawling to the govt wanting help. The govt gave them millions of dollars and when they didn't think the companies were go to ever be able to ever pay back their loan they made changes that they thought would help.

I also think that after the bank ordeal the govt is a little nervous about being drug over the coals about screwing up again.

 

Corrected

Billions, not millions

 

The government. Doesn't the government aquire it's money from the tax payers? Did the government think that the tax payers were ok with giving billions of our tax dollars away? If I remember correctly, the people spoke out, very loudly, against bailouts of any company but were ignored by the people in our government who are supposed to represent our will.

I seem to remember our elected representatives telling us that it was absolutely necessary to bail out the banks and financial institutions because they were too big to fail. I seem to remember our elected representatives telling us if they didn't use tax payer dollars to bail out these failing car companies, there would be catastrophic results. At that time they said that bancrupcy was absolutely not an option. They warned us of the reverberating effect it would have on all of the other companies involed in the manufacturing of vehicles. Now, after giving these failing car companies billions of the tax payers dollars to stay afloat for a while, the solution is going to be bankruptcy? Our government has also promised to back these companies vehicle warranties, with tax payer dollars. I bought a Ford, why should I have to pay for any portion of a GM or Chrysler warranty claim?

If the banks, financial institutions, car companies, and any other entity reciving bailouts funded by the tax payers were so evil and irresponsible, why in the hell does the government think it's ok to dump trillions of our tax dollars into things that have untill now been failures?

If the American people have this much animus twords the companies that have done poorly, how can they give the government a pat on the back for dumping our money into them?

Companies that do poorly should fail. A government that grows too big and omnipotent is a detriment to society and has to be restrained.

If you have a problem with a company, you air your grievances by not spending your money with them. If you have a problem with how the government is spending our tax dollars, what are you supposed to do?

 

Let's go through what happened with the car companies:

GM gets in trouble after the economy collapses. (Keep in mind GM was surviving until the collapse, albeit barely) They ask for money from the gov't. The gov't at the time tell us that they are going to help GM get 'viable'.

It's plain to see now that the government is going to get GM and Chrysler to build the cars that they arbitrarily want them to build even though there is not much demand for those cars right now.

If the American people would've been told in December that the gov't would decide who stays and who goes, most people wouldn't have signed on to aid for GM and Chrysler and would've said let them restructure under bankruptcy protection.

This all goes back to an interview that Obama gave to Tom Brokaw on "Meet the Press" last fall. In the interview Brokaw asks Obama if it is time to raise the gas tax by $2.00-$2.50 per gallon.

The transcript is on NBC news' website. Obama says in reply that basically now is not the time since we are in a recession. How nice of him.

 

Well, there are a lot of people that depend on the big three for their living, not only the actual companies but the parts suppliers and even dealerships across the country. I can't see them speaking out against a bailout, when you say taxpayers, you sure don't mean ALL of them.

If one of them goes out it will hurt the rest too, because there would be a bunch of unemployed people with car shopping being the last thing on their mind. If you don't have enough lifeboats (jobs) it is best to keep the ship afloat the best you can, just letting it sink because it couldn't weather the storm and the people that are on it should have maybe picked a better ship doesn't make it right.

The big three got caught up in the suv/pickup boom, they were pumping them out as fast as they could... there was good money in it. It would have been crazy to be pumping out cars when nobody wanted them (just like trucks now) Then overnight people jumped ship to cars and the import companies that had been struggling to get into the truck market fell into favor with their cars. If the imports had gotten their crap together earlier on how to make a truck they would be in the same boat. The Titan and that big Tundra that came out just in time to be too late a couple years ago is proof that even they didn't see it coming.

Bankruptcy has always been an option, they were trying their darndest to avoid a ugly long drawn out one.

 

Timmy Geithner, Harry Reed, Christopher Dodd, Barney Frank, and I am sure there are many I am missing, but these are the crockedest of the crocked, and of course the savior himself Lord Obama all need to be tried on charges of corruption, conspiracy, and enemies of the state for their horrendous crimes committed on Americans and this great country of America.

All these billions of dollars being thrown around in bailout money is nothing more then hush money. Tiny Tim tax cheat Geithner, Reed, Dodd, and Frank have absolutely no interested in helping out these failed companies other then to keep top executives mouths shut about the millions these companies poured into their nasty government pockets.

Why else do you think OUR government and Obama allowed the $165 million in bonus to be paid out to the AIG group. They ALL knew it was in the bill, they all knew and had no problem blessing it. Of course when the taxpayers found out they all acted like ”What, we had no idea”

NONE of them are listening to taxpayers because none of them give a crap what the taxpayer thinks or feels. We the taxpayers are here for THEIR benefit and they are NOT here for our benefit. That’s the problem folks and something every single individual needs to understand.

There is NO Constitution right now and what ever may be left of it Obama will continue to use to wipe his @ss after he takes a dump. That is exactly what Obama and all his little socialist and fascist friends think about this stupid American Constitution. They are not worried about amending the Constitution they are quickly making it irrelevant because they see Americans as weak, stupid, unmotivated, and incapable of thinking for themselves. Therefore, these stupid Americans are not about to rise up because they have no clue nor motivation to do so. Just like the days in Germany while Hitler was coming to power, now you get to see it happen right in front of your eyes while you pretend its not happening…

 

Good points. The bailouts are unconstitutional, plain and simple.

Even without bankruptcy, lets say that one of the big 3 went belly-up. The lost sales would go to the other 2 manufacturers. Therefore, more workers would be needed at the other 2 companies.

This fear of people losing their jobs 'permanently' is a lie. Production will still be needed, just at other companies.

Economics 101.

 

People don't buy stuff when they don't have a job. Add all those effected by the closing of GM to the unemployment line and it would be really hard to find a job, and it is plenty hard now. At their current sales rate, GM could shut down right now and still have enough cars to get thru the next year, so the demand increase would not be instantanious for the others to pick up the slack. Probably won't be a huge deal for Chrysler since a lot of their production is south of the boarder anyway but GM would be a big blow.

It wouldn't be permanently, but it would be rough couple years until things worked themselves back out out.

 

Nail on the head

 

You proved my point, just your time frame is off. GM has approximately 4 months of inventory. Better a rough couple of months than a rough 10-12 years.

 

There is nothing wrong with letting GM fail and nothing wrong with putting all the workers out of a job. If they want a job they’ll have to start looking to find one like a lot of us. Most likely they will have to move in order to get a job, that’s life, that’s survival.

That is how businesses survive and succeed which means some will fail while others move on. It is not normal or logical to support and prop up businesses and people themselves who can not succeed on their own because they then become a ward of the state, just like Lord Obama wants.

I am not talking about the helpless, mental retarded, etc they need to have assistance but people like myself do NOT need the government coming in to prop me up. What I need is for the government to actually follow the Constitution and stay out of businesses business and stop with all the spending to ONLY support people they want to be wards of the state but don’t need to be.

It’s one thing to be unemployed and collecting unemployment benefits which I or anyone else collecting have earned and paid for out of our pockets. The big slap in the face is the massive reduction of income and then for the government to stop by and say ”Thanks for paying your own unemployment benefits with a reduction in salary, and while we really feel bad for you being out of work since we get much less from you in donations every payday, we are going to TAX the itty bitty check your getting now too…”

Ol’ 350lb Betty down the road sits and stuffs her fat face with free subs and McDonalds watching Oprah all day long and hasn’t contributed much of anything to society, not a dime in taxes, and she get’s a crap load more money then me AND free food, what is that about?

You would think idiots like Geithner and Lord Obama would take some time to get educated on America in general and economics in general since they show a true lack of any education, I mean the guy in charge of collecting taxes hasn’t a clue about how to pay his own. In any regards you would think these idiots would learn from history and FDR’s big screw up with the “New Society” that made the great depression last many years longer then it should have BECAUSE OF GOVERNMENT INTERVENTION and SPENDING.

When you lower taxes it brings MORE revenue into the treasury, when you raise taxes it brings much LESS revenue into the treasury. It has been PROVEN AS FACT every single time it’s done. It’s economics that first graders could learn within a few hours and Lord Obama and tax cheat Geithner have yet to learn that VERY SIMPLE principle of FACT…

 

I assume you are against any farm subsidies and price floors for US farmers? ($16.5B/year)