Bailout Watch 242: Obama Doesn't Want To Write A Blank Check

“Tax payers can’t be expected to pony up more money for an auto industry that is resistant to change.” Doesn’t want to be kicking the can further down the road either.

Join the conversation
4 of 28 comments
  • Gforce Gforce on Nov 26, 2008

    Banks being in the "financial" sector should have had better early warning systems that the auto industry in my opinion. Ironically the auto industry's failure is partly attributed to "bean counters".

  • Gforce Gforce on Nov 26, 2008

    It's unacceptable for banks to fail like this in my opinion, after all they are in the "financial" sector. Auto industry should be given an inch and get the bail-out. Ironically the American auto industry's problem is partly attributed to "bean counters" interference.

  • Gforce Gforce on Nov 26, 2008

    No bail outs should be granted to banks, they are in the FINANCIAL sector after all and should be best positioned in forecasting the markets well ahead of time. Ironic that the auto industry is in the mess, partly due to "bean counters" interference, allegedly.

  • Geeber Geeber on Nov 26, 2008

    no_slushbox: The thing about “

    eople who own houses may not like it, but that’s just tough” is that a majority of voters own houses, which, for those that don’t own houses, is just tough. But a house is only worth what someone can pay for it. It's now apparent that housing prices have been artificially inflated by exotic mortgages and giving loans to anyone with a pulse. Prices are going to fall, as lenders return to sane lending standards, and many people simply pull out of the market. If the government tries to prevent this (and it certainly can try), it will quickly discover the futility of such a move.