Comments on: Colossal Financial Collapse: The Truth behind the Citigroup Bank “Nationalization”

By: john brennan

john brennan — Wed, 26 Nov 2008 11:57:18 +0000

Steve in oc,just like the titanic,most people refused to believe they were sinking, that some obama ship might come along and rescue them,instead of getting on the life boats,of cutting back on spending,only buying whats ness,sqeezing the sob”s look whats happened to gas prices since we cut back on driving,they have already made a fortune,lets all quit buying for 6 months prices will come down,we will be much better off.hell there gonna get there bailout anyway,lets sqeeeeeze em,watch them squirm,come on protests and signs do no good ,violence begets violence,lets hit em where it hurts. ANYBODY WITH ME???

By: steve in OC

steve in OC — Wed, 26 Nov 2008 07:39:30 +0000

wow so this is what it felt like on the titanic… God have mercy on us.

By: et

et — Wed, 26 Nov 2008 06:08:56 +0000

lets see in the 70s we had a gas crunch and jap cars sold like crazy. Why, ‘cuz they got great gas mileage. what did we get from America? the pinto and the vega both pieces of crap. so here we are 40 years later jap cars still get 30+ mpg so do korean cars. American cars still get crappy mileage and the quality sucks, but they cost 40k. we have the technology today to tune these cars and suvs to get 25-30mpg easy. this is fact. I’ve been working on them 25 years and i recently got a f150 to get 28mpg so I know it can be done.(and I do not have the fancy computers they do.) an average camry can get 65 mpg. Big oil owns our gvt and our car companies. f em all. this summer we barely could pay our mortgage and still get to work feeding our transportation. my ass is getting sore from all this help the gvt is giving. if in 40 years the big three can’t be competitive then it’s the f ing they get for the profits they got. thats why they call it ‘free market’ I worked for Ford, GM and Chrysler. I am a proud American but I don’t drive or own an American car ‘cuz they f ing
suck. maybe if they quit building piles of crap we would buy them. p.s. my toyota has 100k and it has cost me total about 1500 in maintenance. never been to the dealer with problems under warranty, ever. name 1 American car like that. anyone…bueller.

By: john brennan

john brennan — Wed, 26 Nov 2008 01:14:49 +0000

Joshua,your right on! Why cant the gov just give a bailout to the people then we can pay the banks ,the banks can pay the international banks,everybodys happy right? then the consumers can start buying again.Of course this cant happen,the nwo,fed reserve wants the people in this subservient position,were much easier to buy into there policy,when were desperate. You know,if this bailout money is actually ours,and we have to pay it back,why cant we have some!!!

By: Joshua Norton

Joshua Norton — Tue, 25 Nov 2008 21:32:12 +0000

You could put a quadrillion dollars into the banking system and it wouldn’t change the fact that most Americans are tapped out. Giving them more loans and credit cards at favorable terms won’t make the nut if they can’t pay back the loan. After all, that is the situation we are in. Our banks and financial institutions are holding more debt than can reasonably be paid back. We have a debt crisis, not a credit crisis. And Paulson’s answer is to dump more debt onto the backs of the taxpayers? This sounds to me like some mideaval physician “bleeding” the patient who is just hanging on to life. I actually think that Paulson and company have about as strong and accurate a grasp on the situation as the above mentioned “physician”.

By: Tom

Tom — Tue, 25 Nov 2008 19:34:15 +0000

To World War X,

Just in case you haven`t figured it out yet 9/11 was an inside job.

By: Ben Dover

Ben Dover — Tue, 25 Nov 2008 19:30:20 +0000

The employees, pensioners and shareholders of General Motors, Ford and Chrysler bet on these respective companies and lost. Welcome to capitalism.

I hope not one cent of public money is used to bail out these dinosaurs. There is a reason they are going broke – they built products that no one wanted.

Throwing good money after bad will only prolong the agony and delay the rebuilding of the american automotive industry.

By: Unknown Truth

Unknown Truth — Tue, 25 Nov 2008 15:24:24 +0000

Bill I like that….let the oil companies bail out their auto buddies. NICE!

By: Unknown Truth

Unknown Truth — Tue, 25 Nov 2008 15:21:20 +0000

WORLDWARX, you make some good points, however after 911 there was just a drop in flighing that was gradual. The bottom didnt fall out, like what has been seen in multiple, diverse industries over the past 4 months. I agree that all of these globalized companies have been robbing us so blind its like we never had eyes.

I am originally from the detroit area and will admit i am a little biased. I have a couple of opinions on all of this. First, why do banks get bailout preference. In the past airlines have been bailed out if my memory serves me correctly. So if you are going to bail out AIG and Citibank, why CANT the big 3 get a LOAN. At least they admit its a loan. Not like the banks who just want a hand out because they mismanaged…sorry defrauded not only their stakeholders but their customers as well.

My other opinion is, if you want to let the big 3 fall…im fine with that. But let E V E R Y T H I N G fall. AIG, Citi, circuit city, starbucks….let them all fall to the ground. Then take that 700B that Hanky Panky gave to his boys, and give it to the american people. Because they actually work at the Citis and the AIGs and the GMs and the Fords. I do believe though that Chrysler should just fold up and its assets liquidated.

I knew that 700b would be a gravy train for people who didnt deserve it. I think that at least the BIG 3 failed honestly. Yeah they made crap for 40 years and just started making better cars in the last 10 years but at least they made what i say are honest mistakes….Credit Default Swaps and subprime loans/mortgages are just get rich quick schemes.

I also agree with BeTrue…..the economy and even the world as we knew it, is over.

By: Don Robertson

Don Robertson — Tue, 25 Nov 2008 15:08:43 +0000

The automakers won’t fail.

The automakers will have to shed a lot of sweetheart deals they have given away over the years to preferred stock holders, to retirees and to the UAW, but the automakers will not fail. That is a falacy.

Right now AUW retirees receive retirement compensation that is far more than probably 60% of what American workers make, for being retired!

Not everyone can work for the auto companies. And not everyone should be asked to pay for these sweetheart deals.

The companies cannot afford the deals the agreed to, so let them declare bankruptcy. They then can reorganize and get on with the business of making cars.