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ask yourself, why is it so easy for citi to get a bailout and so hard for the automakers...? what other rational explanation is there...? what a crock o'shit... and, the crock overfloweth when you hear richard shelby, the senior repub senator on the banking committee say stuff like this: "I think a lot of it will be life support. believe their best option would be some type of Chapter 11 bankruptcy ... These leaders have been failures and they need to go."
why, i ask you, shouldn't the top management of citi ALSO have to go...? what, pray tell, is the difference between the super-rich elites who control the u.s. auto industry and the super-rich elites who run the banking industry...? the former has unions and the latter doesn't, that's what... if the automakers go bankrupt, those super-rich bastards calling the shots will still come out whole, the auto industry will still lumber along, but the back of the auto workers union will be broken which, after all, is the fundamental goal of this despicable continuing effort to pound the blue-collar american worker into senseless, silent, obedient servitude...
http://takeitpersonally.blogspot.com/
The largest U.S. automaker also may ask to delay a $7 billion payment to a union retiree health fund, drop more brands and rework an accord with GMAC LLC to prove it can survive and repay the government, said the people, who asked not to be named because the details haven’t been presented to Congress.
(More at Bloomberg.com including discussion of retiree health benefits, job bank, and other union cuts, etc.)
The hell with them now and in the foreseeable future!
Their brand of so called bushism is nothing more than fascism... something american needs none of!
And remember AIG? Worth 16 cents a share under govt supervision?
I suppose Tim Geithner approved this deal...
We are so fucked.
The taxpayers are being forced to bail them out, and once again the losses are public and profits private.
"We are increasing your variable APR for purchases. Your purchase APR will equal the U.S. Prime Rate plus 13.99%, with a minimum APR of 19.99%. As of October 1, 2008, this purchase APR is 19.99%. ......"
This increases the APR on my account from 12.99% to 19.99%. Do you think they might be pissed because I have never carried over a balance from one month to another?
We are getting robbed blind by this administration in their final days. Perhaps every single American worker should do a one or two day walkout and grind the entire country to a halt.
I propose DC be destroyed by a nationawide tax revolt. If Congress expects the taxpayers to toil away so that our dollars can be spent on this bullshit then the political careers of these bought and paid for assholes should be seen swinging from the trees of the Mall as DC crumbles. DC needs to be figuratively destroyed to its hopelessly corrupt core before any real, meaning and helpful change can occur.
For all of those not wishing to participate then remain on your knees and keep swallowing for your corporate masters which masters are probably not even your employer.
http://bloomberg.com/apps/news?pid=20601109&sid...
How can they be stopped?
The media did not hide the fact that Citigroup did not try to merge with Wachovia out of some kind of charitable feeling. The impetus behind the threatened lawsuit was that Citi really needed Wachovia.
Wachovia had lots of domestic deposits (i.e. capital). Much of Citi's deposits are overseas. Those deposits are not insured by the FDIC or by whatever foreign depositor insurance fund there might be (see also the collapse of the Icelandic banks whose deposits were not insured). The lack of insured deposits meant a run on the bank, i.e. capital flight, destroying Citi's capitalization ratios....