Why is Obama requiring the automakers to sacrifice and not Wall St?

Seen the light

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Mon Mar-30-09 09:29 AM
Original message

Why is Obama requiring the automakers to sacrifice and not Wall St?

Am I missing something here? Anyone have a post or article that explains his rationale?

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msongs

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Mon Mar-30-09 09:33 AM
Response to Original message

1. AIG free $175 billion vs GM $6 billion = GM has UNIONS and AIG doesn't??? PLUS

Edited on Mon Mar-30-09 09:34 AM by msongs

the unionized company may be forced into bankruptcy while AIG doesnt even have to pay back the cash.

Msongs

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Mudoria

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Mon Mar-30-09 09:34 AM
Response to Reply #1

2. AIG and Wall Street have friends in the White House

Summers and Geitner

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SammyWinstonJack

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Mon Mar-30-09 09:45 AM
Response to Reply #2

8. And Obama.

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Mudoria

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Mon Mar-30-09 09:34 AM
Response to Reply #1

3. Dupe

Edited on Mon Mar-30-09 09:37 AM by Mudoria

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avaistheone1

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Mon Mar-30-09 09:35 AM
Response to Reply #1

4. Since when does AIG not have to pay back the cash?

Link please.

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amborin

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Mon Mar-30-09 11:38 AM
Response to Reply #4

15. since it paid off Goldman Sachs, Royal Back Scotland, etc.....

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sailor65

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Mon Mar-30-09 09:35 AM
Response to Original message

5. Hopefully you're wearing body armor.....

I am, so here's my answer. Obama and the whole bunch are in bed with the bankers, but not the automakers, which is why they don't much care how painful it gets for the automakers, but will continue to cushion the banks with no real return on the investment.

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spoony

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Mon Mar-30-09 11:07 AM
Response to Reply #5

12. That's certainly the image he's allowing to stand

So it's either the truth or he's got no idea what he looks like when he wields such a gigantic and unfair double standard. Either way he's screwing up.

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dkf

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Mon Mar-30-09 09:36 AM
Response to Original message

6. Eventually financials will make money.

Automakers may not.

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bajamary

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Mon Mar-30-09 09:43 AM
Response to Reply #6

7. "financials will make money"?

link please for the statement

"eventually financials will make money"

Hasn't this bank/financial melt down just proved the opposite?

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dkf

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Mon Mar-30-09 09:47 AM
Response to Reply #7

10. You think we aren't ever going to have a functioning financial system?

There have been bankers forever. Heck its even in the Bible.

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JDPriestly

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Mon Mar-30-09 11:05 AM
Response to Reply #6

11. Eventually, eventually, -- nothing is eventually, nothing is certain

All kinds of people predicted that housing prices would always go up, never down. Unless you have a crystal ball, you cannot rely on financials making money in the future. Sure, eventually, but how long is that? From 1929 to 1954 was a long time. And if you look at the stock market charts, that is how long it took before the stock market reached the 1929 high once the Great Depression began.

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Johonny

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Mon Mar-30-09 11:59 AM
Response to Reply #6

16. I agree

Your going to have a banking system no matter what. Some type of financial system has existed for thousands of years. The Auto industry has only existed for a short time in human history and it's not clear individual car ownership is a long term need of society.

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BlueJac

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Mon Mar-30-09 09:47 AM
Response to Original message

9. Bankers and Wall street own the white house....

we must crush out union workers and their pension plans and put those costs on the backs of American taxpayers. Lower wages are a must as this country moves forward toward a corporate state. This debt based economy must survive to borrow it's way forward and continue it's death spiral.

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flvegan

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Mon Mar-30-09 11:09 AM
Response to Original message

13. All corporations being equal, some are more equal than others.

I think that's what we're seeing.

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jmg257

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Mon Mar-30-09 11:17 AM
Response to Original message

14. Campaign contributions, & lobbiest positions & appointments,

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asteroid2003QQ47

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Mon Mar-30-09 11:59 AM
Response to Original message

17. Surely you don't doubt that President Obama also sees the light?

No fool, his interpretation of Charles de Gaulle's words of wisdom may well serve as a daily reminder of the length of his leash.
------------------------------------------------------------

“The cemeteries of the world are full of indispensable men.”

--Charles de Gaulle

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