I love the passion of the mayor of Lansing, Mi who's on with Ed Schultz now -

[Peregrine Took]

- he's defending the car industry loan and comparing it to the easy deal the Wall St crowd got.

His name is Burt Bonaro (sp?)

[BeatleBoot]

1. And if I hear the term, "Bailout" one more time, I'm going to scream

It's a friggin' LOAN.

That will be paid back, most likely ahead of time (just like Lee Iaccoca did back in '79) and with stipulations in the agreement that most liberals would like.

It is NOT a Bailout.

The $750 Billion to the banks WAS a Bailout.

This isn't.

[earthside]

3. Oh, It's a Bailout!

GM, Ford and Chrysler cannot get loans from any private financial institution.

So, the incompetent CEOs are begging the taxpayers to take the risk ... in other words "Taxpayer's bail us out of this crappy situation we have gotten ourselves into because we were too arrogant to manage our companies competently!"

Oh boy, that is a bailout.

And, if I hear that this is just going to be a 'bridge loan' one more time I think I will scream ... sheesh, cut the spin.

[Kalyke]

4. They have a pay back schedule of 2011 and 2012.

:eyes:

[bluecollarcharlie]

5. Where is the payback schedule for the banks?

Hmmmmm? Do you see one anywhere? "Cut the spin.." Open your eyes! Wall Street got paid because Paulson is one of them. Main Streeters like me(You know, people who REALLY work as opposed to sitting on their cushy asses all day.)are getting screwed. People like you enabled them. Hope you join all the real workers on the assembly line soon, darling. Then you'll understand how true this is . But by then of course it will be too late.

[BeatleBoot]

7. No shit.

The bailout went to the banks.

The automakers are asking for a loan.

Huge difference.

There are way too many Auto Experts on DU all of a sudden. And none of them understand or have worked in the industry.

[sendero]

8. Exactly...

.. I got in some pretty heated arguments here a couple months ago over Paulson's 700 billion. There were plenty of dumbasses here that wanted it.

It was obvious that

1) it wouldn't work
2) they'd just be asking for more

Well, now we hear that AIG, that has taken I believe 80 billion plus of our dollars, is going to pay double, triple and quadruple salaries to "retain talent". Anyone who isn't outraged by that, well that person is just another moron with a permanent KY drip attached to their backside.

There isn't enough money to make good on all these derivative failures, and if we print it, it will DESTROY our economy.

I think Americans are starting to wake up to the ripoff that is going on right under their noses. Letting these banks fail will not be half as bad as ruining the dollar itself, which is where we are heading with the endless parade of printed money.

[Peregrine Took]

2. One more thought - I wish he could appear before Congress instead or, or in

addition to the car bigwigs.

[TheUnspeakable]

6. he was on C-SPAN this am he was great!! Virg Bernero