Comments on: Bailout Watch 23: Get Your Snouts Out of the Trough! http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/ The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Sun, 22 Nov 2009 19:09:02 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: hal http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-744511 hal Fri, 05 Sep 2008 04:26:58 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-744511 @highrpm: The government doesn't have your money, or at least has spent whatever money you sent it twice and is already deep in the hole . Any money lent to GM by the govt would have to be borrowed first... @highrpm: The government doesn’t have your money, or at least has spent whatever money you sent it twice and is already deep in the hole .
Any money lent to GM by the govt would have to be borrowed first…

]]> By: highrpm http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-742452 highrpm Thu, 04 Sep 2008 16:43:23 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-742452 They already have your money. The question is should they loan the money to the domestics in hopes of a recovery, or use the money on ethanol research or other pie-in-the sky programs for Energy Independence. If the money goes unused, then who knows what will happen to it. It will be sent to Georgia (the country) or something. Nowadays it seems like every country in the world has one hand out for US aid, and the other hand is holding up the middle finger with an "F-U America" salute. They already have your money. The question is should they loan the money to the domestics in hopes of a recovery, or use the money on ethanol research or other pie-in-the sky programs for Energy Independence.

If the money goes unused, then who knows what will happen to it. It will be sent to Georgia (the country) or something. Nowadays it seems like every country in the world has one hand out for US aid, and the other hand is holding up the middle finger with an “F-U America” salute.

]]> By: RoweAS http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-742412 RoweAS Thu, 04 Sep 2008 16:30:25 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-742412 pnnyj : Thanks, that was my implied point. pnnyj :

Thanks, that was my implied point.

]]> By: pnnyj http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-742381 pnnyj Thu, 04 Sep 2008 16:21:48 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-742381 <strong>MichaelJ : September 4th, 2008 at 10:54 am RoweAS: Since I’m a taxpaying American, I think I AM (or will be) loaning GM my money. However, my point wasn’t to argue creditworthiness.</strong> Creditworthiness is exactly the issue. It doesn't matter if you call it a loan. If the "borrower" has no prospect of ever paying the money back then it's a bailout. MichaelJ :
September 4th, 2008 at 10:54 am

RoweAS:

Since I’m a taxpaying American, I think I AM (or will be) loaning GM my money.

However, my point wasn’t to argue creditworthiness.

Creditworthiness is exactly the issue.

It doesn’t matter if you call it a loan. If the “borrower” has no prospect of ever paying the money back then it’s a bailout.

]]> By: MichaelJ (of GM) http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-741831 MichaelJ (of GM) Thu, 04 Sep 2008 14:54:56 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-741831 RoweAS: Since I'm a taxpaying American, I think I AM (or will be) loaning GM my money. However, my point wasn't to argue creditworthiness. My main point is that low interest loans that have already been made available by legislation passed last year keep being characterized as handouts, and the domestics have been criticized (in other editorials more than this one) for going after the loans that the government has made available. I know this rant isn't exactly on topic with Mr. Farago's article, but... You can criticize the government for using your tax dollars that way, although other countries have helped their own automakers in similar ways. But why criticize the companies? If you ran GM, and the company is in financial trouble, and someone offers you a low interest loan, would you say no? RoweAS:

Since I’m a taxpaying American, I think I AM (or will be) loaning GM my money.

However, my point wasn’t to argue creditworthiness. My main point is that low interest loans that have already been made available by legislation passed last year keep being characterized as handouts, and the domestics have been criticized (in other editorials more than this one) for going after the loans that the government has made available.

I know this rant isn’t exactly on topic with Mr. Farago’s article, but…

You can criticize the government for using your tax dollars that way, although other countries have helped their own automakers in similar ways. But why criticize the companies? If you ran GM, and the company is in financial trouble, and someone offers you a low interest loan, would you say no?

]]> By: RoweAS http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-741642 RoweAS Thu, 04 Sep 2008 14:15:40 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-741642 MichaelJ: Would you loan GM your money? MichaelJ:

Would you loan GM your money?

]]> By: MichaelJ (of GM) http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-741422 MichaelJ (of GM) Thu, 04 Sep 2008 13:39:39 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-741422 Isn't there a difference between a loan (even a low-interest one) and a "handout?" (If the answer is "Yes, but this is still essentially a handout because of the opportunity cost of cheap money" then fine, but its not a $50b handout.) The request for the loans is something granted under Section 136 of the Energy Independence and Security Act (the Advanced Technology Vehicles Manufacturing Incentive Program). While we're on that topic, there are a lot of folks out there that qualified (or have kids that qualify) for low interest federally backed student loans and decided to partake rather than pay higher interest somewhere else. Haven't other countries participated in funding some of their automakers' technology initiatives? Isn’t there a difference between a loan (even a low-interest one) and a “handout?” (If the answer is “Yes, but this is still essentially a handout because of the opportunity cost of cheap money” then fine, but its not a $50b handout.)

The request for the loans is something granted under Section 136 of the Energy Independence and Security Act (the Advanced Technology Vehicles Manufacturing Incentive Program). While we’re on that topic, there are a lot of folks out there that qualified (or have kids that qualify) for low interest federally backed student loans and decided to partake rather than pay higher interest somewhere else.

Haven’t other countries participated in funding some of their automakers’ technology initiatives?

]]> By: GS650G http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-741221 GS650G Thu, 04 Sep 2008 13:02:49 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-741221 It's nice how every huge expenditure gets compared to the cost of freedom. It’s nice how every huge expenditure gets compared to the cost of freedom.

]]> By: Orian http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-741192 Orian Thu, 04 Sep 2008 12:48:55 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-741192 Rday - agreed. We're dropping $10 billion a month on Iraq now. That $50 billion handout will keep us in Iraq another 5 months at least. At least the Detroit News is coming (extremely slowly) around to see reality when it comes to the big 3. Rday – agreed. We’re dropping $10 billion a month on Iraq now. That $50 billion handout will keep us in Iraq another 5 months at least.

At least the Detroit News is coming (extremely slowly) around to see reality when it comes to the big 3.

]]> By: Rday http://www.thetruthaboutcars.com/bailout-watch-23-get-your-snouts-out-of-the-trough/comment-page-1/#comment-741161 Rday Thu, 04 Sep 2008 12:44:07 +0000 http://www.thetruthaboutcars.com/?p=69741#comment-741161 The letters have already been sent. Even copied GW too. We need to cut this off at the pass. We have better uses and needs for our money. The letters have already been sent. Even copied GW too. We need to cut this off at the pass. We have better uses and needs for our money.

]]>