Comments on: Bailout Watch 314: GM Gets $4b, Refuses to Name Supplier Payment; Treasury Announces “Automotive Industry Financing Program”

By: Ronnie Schreiber

Ronnie Schreiber — Fri, 02 Jan 2009 06:50:07 +0000

So now that GM has accepted loans from the feds they don’t have any right to keep some business information proprietary?

You guys want it both ways. You want to complain that gov’t assistance to a business is tantamount to socialism, but when that business continues to operate the way businesses do (like not give their competitors inside information) you complain about transparency.

What’s next? You gonna insist that GM let every taxpayer (and Toyota) search out every nook, cranny and hard drive at the Tech Center?

By: Luther

Luther — Fri, 02 Jan 2009 03:03:10 +0000

A true “Uncle Sugar” would not steal half our earnings from us…Maybe call it “Uncle Tapeworm”.

By: porschespeed

porschespeed — Fri, 02 Jan 2009 02:17:48 +0000

97escort,

Don’t worry, if you are a taxpayer you will definately be getting it in the bottom…

By: 97escort

97escort — Fri, 02 Jan 2009 00:32:44 +0000

Trickle down socialism for the Too Big to Fail will work no better than trickle down capitalism did with bigger tax cuts for the wealthy than those on the bottom.

For a dose of socialism to have any effect, it must be administered by a shot given to the bottom.

By: porschespeed

porschespeed — Thu, 01 Jan 2009 19:53:23 +0000

MikeInCanada,

The US Fed has ‘loaned’ $2T on an emergency basis to several US banks.

Bloomberg currently has a FOIA suit in progress to find out who got that mountain of c-notes.

Fed ain’t talkin’. They also claim (arguably validly) that they are exempt from FOIA.

As ridiculous as it may seem, $50B+ down the GM rathole is pissing in ocean.

One of my friends runs a GM supplier. He’s never gotten paid on time for the last 3 years. Thankfully, GM is not all of his manufacturing capacity, or volume.

By: thalter

thalter — Thu, 01 Jan 2009 18:35:50 +0000

I’m guessing it is Delphi…

By: ronin

ronin — Thu, 01 Jan 2009 16:28:05 +0000

Trick question. No wonder they couldn’t give the identity of the ‘major supplier.’ Because it should read ‘major suppliers,’ the plural form indicating the list of all Tier Ones.

By: MikeInCanada

MikeInCanada — Thu, 01 Jan 2009 16:11:00 +0000

I wonder when/who will be the first to start filing Freedom of Information requests to better understand what all the cash is being used for? NYT, WSJ, TTAC? Anyone…?

By: Bill Wade

Bill Wade — Thu, 01 Jan 2009 16:01:51 +0000

So let’s call it the gastric bypass rule: unless you’re REALLY big, you don’t qualify. So I guess it really is about jobs, jobs, jobs. Isn’t it? Despite the fact that small business is the backbone of the U.S. economy.

Something they will shortly learn when small businesses and their employees will be unable to purchase the products of the large union employed companies they’ve so willingly given their largess to.

By: Captain Tungsten (of GM)

Captain Tungsten (of GM) — Thu, 01 Jan 2009 15:55:51 +0000

Oh please…..

By: Joe McKinney

Joe McKinney — Thu, 01 Jan 2009 14:49:38 +0000

The word accountability is not in the government’s lexicon. This lexicon is full of euphemisms like Automotive Industry Financing Program.