Everyone wants a place at the teat

jmshepard · 02:46 PM

http://www.thetruthaboutcars.com/bailout-watch-120-the-dealers-want-in-and-its-not-a-bailout/#more-121331

Bailout Watch 120: The Dealers Want In. And It’s Not a Bailout.

"Former NADA president and prolific car dealer Ron Tonkin has gone public with a new plan to fix the mess we call Detroit. And you’ll never guess what it isn’t. You see, Tonkin believes that government loan programs written with Detroit in mind are just not enough of a non-bailout. The federal shore-up of domestic auto lenders? Also insufficient. Tonkin thinks the country needs a non-bailout that’s easy to understand and, most importantly, one that doesn’t cut the dealers out of the non-bailout loop. So he’s written a letter to the D2.8’s executives calling on them to lobby President Bush for a $2,500 consumer tax credit towards the purchase of any new GM, Ford or Chrysler product."

There is more on the link.

And there is more:
http://www.thetruthaboutcars.com/bailout-watch-119-launch-the-whaleboats/

"Bloomberg reports that “Michigan lawmakers are asking Federal Reserve Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson to use their authority to ‘promote liquidity in the U.S. auto industry,’ according to a draft letter they plan to send tomorrow. The letter will ask the Fed and Treasury chiefs to use their authority under the Emergency Economic Stabilization Act [EESA] to help the ailing U.S. automakers.” Question: how do you define sensible? “The auto industry is facing unprecedented struggles, and it deserves a partnership from Washington,” Representative Joseph Knollenberg, a Michigan Republican, said in a statement. “I’ve fought for this kind of sensible assistance for years, and I hope we can make it a reality now.” In all likelihood, immediate “relief” will probably take the form of a federal buyout bad car loans."

What is happening to this country?

HardDrive · 10-23-2008, 02:50 PM

I think I'm going to go out and buy a carton of cigarettes, a crate of 30 year old scotch and some law chairs.

The apocalypse will be coming along shortly, and I want to make sure to have a good view when the devil starts pitchforking folks into the fire.

Eric Coffey · 10-23-2008, 02:52 PM

Quote:

Originally Posted by HardDrive

I think I'm going to go out and buy a carton of cigarettes, a crate of 30 year old scotch and some law chairs.

The apocalypse will be coming along shortly, and I want to make sure to have a good view when Obama starts pitchforking folks into the fire.

Fixed it for ya.

BReif61 · 10-23-2008, 05:25 PM

So, will I be able to use that $2500 to buy a Mazda3? Since Ford part owns them and all...

$2500 off would make a Chevy Aveo what, free with $200 in the glove box?

jmshepard · 10-23-2008, 06:57 PM

My head is still spinning on the notion that I (my taxes) am supposed to cover the bad car loans.
Right, some knucklehead buys a Tahoe on a 5+ year note, can't afford gas, and now wants to shed the hunk of iron. At least this real estate fiasco involves real assets instead of something that depreciates the second you sign the purchase agreement.

turbo6bar · 10-24-2008, 03:59 AM

Can the forces of inflation (the Fed/Treasury department) win over the forces of deflation? Bernanke and Paulson are helping to create a $2 trillion deficit for 2009 to boost the chances of inflation. Gosh, we took a wrong turn somewhere. Build an economy based on consumption financed by debt and, well, what do ya expect.

onewhippedpuppy · 10-24-2008, 05:05 AM

I really hate our lawmakers.