WarrenJ Posted December 9, 2008 Report Share Posted December 9, 2008 From The Wall Street Journal: http://online.wsj.com/article/SB122875608562688401.html "Assuming congressional Democrats and the White House come to agreement on the plan, the car industry would be the latest to submit to strict government scrutiny in return for a bailout, joining most prominently the banking sector. The auto industry would undergo a restructuring process akin to bankruptcy reorganization, only with fewer rigors and with the government, not a judge, in control, and with many associated political complications." Argentina recently nationalized the 401-K plans of its citizens to the tune of about $26B. Some U.S. Congresspeople have also squeaked up about "nationalizing" your 401-K plans. Are you comfortable with this? Facism, the government control of industry, contrary to what some would have you believe, is a liberal construct (National Socialist Party), not a conservative one. I am not comfortable. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Bruce Nunnally Posted December 9, 2008 Report Share Posted December 9, 2008 I am not clear on what the 401K issue is; the 401K is a retirement investment program, so there is nothing for the Government to 'take over'? Unless the Government is going to give me money; in that case we could save time and I'll just send them less in taxes and we can call it done. In terms of the Government involvement in the auto industry, I think based on the fact that the automakers need cash, and they have such poor credit that they have no other source of cash than a Government loan, means they will have to take whatever conditions are offered with the loan. I would be more comfortable if GM were in good financial shape, profitable, and operating on all cylinders, but here we are. Bruce 2023 Cadillac CT4-V Blackwing Follow me on: Twitter Instagram Youtube Link to comment Share on other sites More sharing options...
BodybyFisher Posted December 9, 2008 Report Share Posted December 9, 2008 This is why I was so adament against Obama and the Dems taking control, his and his party's rhetoric is Marxist. Of course someone here stood up and said, I was ridiculous for making such a statement. I was glad to see Bob Lutz on TV this morning standing up with a pair of testicles basically stating how far GM has come and stating that a Car Czar would be ridiculous. Pre-1995 - DTC codes OBD1 >> 1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/ Cadillac History & Specifications Year by Year http://www.motorera.com/cadillac/index.htm Link to comment Share on other sites More sharing options...
Cadillac Jim Posted December 9, 2008 Report Share Posted December 9, 2008 The most important question to me is: what is the complete plan? Is the czar the objective or a milestone in a plan that results in independent, reorganized companies? I haven't seen the complete plan. Milking the auto industry to the point that it becomes noncompetitive will eventually cause its demise. Bankruptcy court would end that practice. A czar probably won't, because cutting off the UAW "entitlements" would be too agonizing a decision to implement by a politician, and it would cost too many votes, making a long-term viable industry unlikely. I would be more comfortable with bankruptcy and just getting to the other side by all concerned. -- Click Here for CaddyInfo page on "How To" Read Your OBD Codes-- Click Here for my personal page to download my OBD code list as an Excel file, plus other Cadillac data -- See my CaddyInfo car blogs: 2011 CTS-V, 1997 ETC Yes, I was Jims_97_ETC before I changed cars. Link to comment Share on other sites More sharing options...
Ranger Posted December 10, 2008 Report Share Posted December 10, 2008 This is why I was so adament against Obama and the Dems taking control, his and his party's rhetoric is Marxist. Of course someone here stood up and said, I was ridiculous for making such a statement. I was glad to see Bob Lutz on TV this morning standing up with a pair of testicles basically stating how far GM has come and stating that a Car Czar would be ridiculous. What Obama said and promised to get votes and what he is now saying is already changing. I think a lot of Obamanians are going to be surprised, dismayed and unhappy. Apparently many already are. Link to comment Share on other sites More sharing options...
BodybyFisher Posted December 10, 2008 Report Share Posted December 10, 2008 This is why I was so adament against Obama and the Dems taking control, his and his party's rhetoric is Marxist. Of course someone here stood up and said, I was ridiculous for making such a statement. I was glad to see Bob Lutz on TV this morning standing up with a pair of testicles basically stating how far GM has come and stating that a Car Czar would be ridiculous. What Obama said and promised to get votes and what he is now saying is already changing. I think a lot of Obamanians are going to be surprised, dismayed and unhappy. Apparently many already are. I hope you are right Pre-1995 - DTC codes OBD1 >> 1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/ Cadillac History & Specifications Year by Year http://www.motorera.com/cadillac/index.htm Link to comment Share on other sites More sharing options...
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