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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

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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

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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

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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

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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.

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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.

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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

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