Chrysler Corporation reached several milestones today: It reached a tentative agreement with Italian car maker, FIAT, and then it filed for Chapter 11 bankruptcy protection in New York. It appears, based upon the comments of President Obama, that the White House and Congress will be actively involved in the Bankruptcy proceedings.
Is this one more step in the Obama agenda of total control? Is Obama looking out for the unions or the auto industry as a whole?
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April 30, 2009 at 5:24 pm
Chrysler and Fiat Reach a Deal, but Bankruptcy Court is Part of the Package
[...] Original post by JAMES [...]
April 30, 2009 at 5:57 pm
Interested Bystander
Hey All,
The Government never should have gotten in to the “bailout” business in the first place.
The people tried to tell the Government to stay away from this when the “financial crisis” happened last year. The Government knows what’s best for us, so they ignored those of us who actually contacted our Representatives last year.
How can any of this be “in our best interest”?
Let free market work. There are winners and losers. That’s the nature of the beast.
Obama’s answer to the question about what the Government’s “role” is in the “bailout” scheme (because I feel that’s exactly what it is), and his answer was that it wasn’t his intention to stay as a shareholder for the long haul, is exactly the opposite of what the Government intends to do. To me, this is the perfect time to get out, at least as far as Chrysler is concerned.
All the Government is doing by “propping” these companies up is to delay the inevitable.
With all of the “soft ball” questions last night, I wonder when the US Media is going to actually report on the policies of this Administration.
All one has to do is look at this story:
http://news.aol.com/article/starvation-death/453675?icid=main|htmlws-main|dl1|link6|http%3A%2F%2Fnews.aol.com%2Farticle%2Fstarvation-death%2F453675
to understand that “social engineering” simply does not work.
When will people realize that it was wrong to start all of these programs in the first place, and eliminate them?
May 1, 2009 at 6:15 am
JAMES
After the Mortgage CRAM DOWN legislation was defeated yesterday, one of the Senators vowed to the Banks that there would be no more bailouts because the banks had turned their backs on the mortgagors….. has he not been listening to his constituency. We want no more huge corporate bailouts at the expense of the next generation!