By on November 18, 2008

Sorry guys, too much domestic kerfuffle to carry this on (Sponge Bob! I don’t want to watch TV upstairs! Where’s my dinner?) Suffice it to say, TTAC will report on the hearings in various posts as we go along. My take so far: Dodd is an extremely convincing politician, in an avuncular sort of way. And judging from the panel’s opening remarks, this is a done deal. The tough questions are notable for their absence. Still, it’s early. Surely, someone’s going to rake these CEO and UAW guys over the coals, who all seem to be blaming something else. Were we too liberal with credit? Nooooooo. Of course not. And the euphemism for the bailout is a “bridging loan.”

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12 Comments on “Bailout Watch 219 – Live-Blogging Bailout Hearings. Not....”

  • avatar
    just another car guy

    not only are they blaming everybody and everything else, (i’m looking at you financial market) but they can’t seem to give straight answers to straight questions.

  • avatar

    That was the first time I’ve ever heard the word “kerfuffle”.

    I heard something about this Chris Dodd and his own creative finances. A radio host got fired shortly after asking Dodd some tough questions. Well now, THAT bodes well for future reporting on the Congress’s own dirty dealings.

    Be careful of that SpongeBob. I think he can give off brain-damaging frequencies when he talks. I’m sure of it because I could never tell just what he’s trying to say.

    And just how does he keep his sleaves from sliding down his arms, hmmm?

  • avatar

    Mmmm…stroke…stroke…mmm…a little to the left now…stroke…stroke…a little to the right now…kiss me on the neck…stroke…stroke…give me some money…

  • avatar

    WOW sh*t Sen. Bob Corker is grilling them, wow I jumped in when it was good. He got them to admit to how much they asked for on the already passed loans.


    And made Ron rank the companies in the order from most survivable to least survivable, Ford first, GM least.

    It’s live on CSPAN for anyone stuck at a computer.

  • avatar
    Ken Elias

    Ron G. could not answer the question of how long workers at idled plants get their 95% salary paid. Talk about evasiveness!

  • avatar

    For those about to sponge Bob, we salute you.


    Why doesn’t Congress tell the D3 that they took the offer to their sales manager and he turned it down, but they can get $400 off rustproofing and 10% all accessories that they buy TODAY?

  • avatar

    Well, that didn’t go well.

  • avatar

    in response, consider who made the Hellcat tanks, the Liberty aircraft, the munitions of WWII? who came up with “Keep America Rolling” after 911? don’t fault all of General Motors for the failed leadership in Detroit. don’t harm the entire USA for the mistakes made at the top. loan the money but DEMAND the resignation of Red Ink Rick Wagoner!


  • avatar
    Stu Sidoti

    As usual, I agree with Buickman…

    As for a lack of hard-hitting questions, yes it started out all strawberries & cream and everone was singing Cumbuya, but Dr. Morici, Senators Tester, Martinez and Corker are indeed asking some ball-busters…

  • avatar

    Does anybody think this makes any difference to the outcome? Does anybody think these execs aren’t just putting in required time with the dour face look? If they can’t answer a question, could it be they weren’t concentrating and have no memory of what the question was?

    Like a soap opera, the conclusion is already written. I think this is only for show, to appease taxpayers so they will be taken in by this act and be less upset with the big giveaway about to happen.

  • avatar

    To chime in with Buickman, each year fewer and fewer Americans will be around to remember a time when nearly every American male was either in uniform or working towards the War effort. Mention rationing and the amount of sacrifice that went into the war effort, most folks don’t have a clue.

    That said, America is still a much more prosperous society today and the American car market has atomized to the point that no single car maker can offer it all. GM must change to survive. That will probably take both a Chapter 11 reorganization and loans from the US Treasury – but it’s worth the fight.

    Chrysler could be salvageable, but it will be at best a small niche player. Can they make it as a maker of pickup trucks, minivans and a couple of rear drive cars?

    Ford has the best shot going forward.

    I truly believe that we may someday need our native car makers to switch gears again to be the arsenals of democracy, especially if we find ourselves in a war that is on a scale of 60 years ago. The alternative is to put our manufacturing needs in the hands of the Europeans and Pacific Rim countries.

  • avatar

    Thats allright, it wasnt nearly as entertaining as Knight Rider anyway.

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