Rick Wagoner Steps Down...

[Jeff_in_Atl]

there is really no right way to fix it.

The thing about all of this bailout mess that aggravates me is they have thrown over a trillion dollars at trying to fix it but they have done nothing to fix the rules that caused this in the first place. Step 1 is to repeal the fair housing act of 1995. Step 2 would be to resend Barney Frank's rule that Fannie and Freddie would guarantee any loan company that makes a loan to someone who couldn't afford it. Then nobody would make these bad loans that caused this problem.

[Wild Willy]

I have mixed feelings here- While I hate to see the feds telling GM how to run their business, GM hasn't been doing a very good job lately- How much of that is their own fault is debatable- a lot is because the whole country's economy is in the tank right now- high unemployment, inability to get loans to buy new cars, people way in debt because of high energy costs from last year's $4 a gallon gas- lots of blame to be spread around-

You might argue that GM should have seen some of this coming, maybe tightened the corporate belt a little, gotten ready for a tough time- so, in that sense, maybe a little is Mr. Wagoner's fault- being at the helm means that ultimately, it was his call, his responsibility-

I think if the feds could fix the bank problems, most of these other things, like unemployment and the car companies would sort themselves out pretty quickly-

[Jeff_in_Atl]

http://www.cnsnews.com/public/conten...x?RsrcID=46007

[3800_Firebird]

Looks like GM will drop all brands in favor of the Obamamobile. It is a bicycle with an umbrella, a seat that is just the shaft, and Hillary Clinton replica as a hood ornament. Any bids?

On a side note, I notice the House is expected to vote on a pay increase. Great to know they have our best interests in mind. When all the rest of us have taken pay cuts to keep our jobs, these blokes vote themselves a raise.

[gimp19]

..........and bush was so much better, dont forget gm and the economy as a whole were head deep in this mess long before Obama.

[Jeff_in_Atl]

..........and bush was so much better, dont forget gm and the economy as a whole were head deep in this mess long before Obama.

And long before G W Bush too.

[3800_Firebird]

And long before G W Bush too.

The foundation for what we're in was laid by Jimmy Carter's administration. Amazing what an incompetent president can do, in just four years.

[Jeff_in_Atl]

The foundation for what we're in was laid by Jimmy Carter's administration. Amazing what an incompetent president can do, in just four years.

You are correct! There was another change in the loan policy back in I think 1977. I can't remember what it was but it was the beginning of this mess. I forgot about that.

Government isn't the answer, it's the problem.