U.S. loses $1.3 billion in exiting Chrysler

UncleBob

UncleBob

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I thought the whole point of the bailout was that it was lost money anyway. How much would we be in the hole if we just let Chrysler go bankrupt? We would've been paying unemployment for every Chrysler worker. Don't forget any of the upstream businesses that would've been adversely affected. How many auto parts manufacturers would've had to lay off more people? Also, how many Chryslers have been sold in the last few years? Take away all that sales tax that goes to the local and state govt's. Nah. It's easier to scare people with $1.3 billion. Never mind that it could have been a much bigger loss if the big bad gov't didn't step in.
 
Bob doesn't understand that the point wasn't to make money off the investment, a foreign idea I know.
 
[quote name='depascal22']I thought the whole point of the bailout was that it was lost money anyway. How much would we be in the hole if we just let Chrysler go bankrupt? We would've been paying unemployment for every Chrysler worker. Don't forget any of the upstream businesses that would've been adversely affected. How many auto parts manufacturers would've had to lay off more people? Also, how many Chryslers have been sold in the last few years? Take away all that sales tax that goes to the local and state govt's. Nah. It's easier to scare people with $1.3 billion. Never mind that it could have been a much bigger loss if the big bad gov't didn't step in.[/QUOTE]

This is based on a lot of assumptions.
 
[quote name='UncleBob']This is based on a lot of assumptions.[/QUOTE]

Chrysler was going to go out of business. Do you think those people magically get to keep their jobs if we don't step in?
 
Making an issue of the Chrysler loss is ridiculous. It's like shoveling a thousand dollars into a furnace and then freaking out because you can't find the quarter in your pocket.

AIG alone is worth 138.46 Chrysler bailouts.
 
[quote name='speedracer']Making an issue of the Chrysler loss is ridiculous. It's like shoveling a thousand dollars into a furnace and then freaking out because you can't find the quarter in your pocket.

AIG alone is worth 138.46 Chrysler bailouts.[/QUOTE]

If you're saying we shouldn't have bailed out AIG as well, then I completely agree.

[quote name='depascal22']Chrysler was going to go out of business. Do you think those people magically get to keep their jobs if we don't step in?[/QUOTE]

>How much would we be in the hole if we just let Chrysler go bankrupt?

Can you prove they would have went bankrupt? That they wouldn't have been bought out by another company?

>We would've been paying unemployment for every Chrysler worker.

Again, you're operating under the assumption that Chrysler would have went out - no chance they could have rearranged their business or been purchased by someone else. Regardless, you're also assuming that "every Chrysler worker" would have no marketable skills that would have secured them a job elsewhere. I know they were mostly union drones and all, but wow.

>Don't forget any of the upstream businesses that would've been adversely affected. How many auto parts manufacturers would've had to lay off more people?

Again, assuming that Chrysler would have went out. And you're assuming that no other company would have came in to fill the void.

>Also, how many Chryslers have been sold in the last few years? Take away all that sales tax that goes to the local and state govt's.

This is the worst assumption at all. Are you trying to say that a significant number of people only purchased a vehicle in the last few years because Chrysler was still in business? That none of these individuals would have purchased a vehicle otherwise.

And none of this even accounts for the idea that if Chrysler was going bankrupt that it deserved to go bankrupt - if it couldn't keep up in the market place, then it had an outdated business model that needed to be replaced.
 
[quote name='UncleBob']

And none of this even accounts for the idea that if Chrysler was going bankrupt that it deserved to go bankrupt - if it couldn't keep up in the market place, then it had an outdated business model that needed to be replaced.[/QUOTE]

So by that token we should have just let all of Wall Street and the banks fail and taken the country into a depression?
 
[quote name='lawdood']So by that token we should have just let all of Wall Street and the banks fail and taken the country into a depression?[/QUOTE]

Yes. Even in the worst-case-scenario of a full-scale "Great Depression", we learned a lot of lessons. All we've learned from this "Great Recession" is that Uncle Sam is willing to bail out your failing business on the tax payer's dime - so take whatever risks you want.

[quote name='camoor']Then make a thread on that.[/QUOTE]

Next thing I know, you're going to be telling Muslims that they have to make threads decrying 9/11 attacks or else they support them too.
 
[quote name='UncleBob']Yes. Even in the worst-case-scenario of a full-scale "Great Depression", we learned a lot of lessons. All we've learned from this "Great Recession" is that Uncle Sam is willing to bail out your failing business on the tax payer's dime - so take whatever risks you want.[/QUOTE]
ORLY? Like wut lessons from the GREAT DEPRESSION?


Next thing I know, you're going to be telling Muslims that they have to make threads decrying 9/11 attacks or else they support them too.
Click to expand...
How the fuck do you conflate making a thread to discuss the AIG bailout to Muslims decrying the 9/11 attack. Inquiring minds would like to know.
 
[quote name='dohdough']How the fuck do you conflate making a thread to discuss the AIG bailout to Muslims decrying the 9/11 attack. Inquiring minds would like to know.[/QUOTE]

camoor is implying that because I didn't make a thread against the AIG bailout, then I must support (or, at best, not care about) it.

Likewise, there are folks that are saying Muslims that don't speak out against attacks like 9/11 support them.

Simply because someone doesn't take to the streets chanting against something, it doesn't mean they agree with or support it.
 
[quote name='UncleBob']camoor is implying that because I didn't make a thread against the AIG bailout, then I must support (or, at best, not care about) it.

Likewise, there are folks that are saying Muslims that don't speak out against attacks like 9/11 support them.

Simply because someone doesn't take to the streets chanting against something, it doesn't mean they agree with or support it.[/QUOTE]

No I'm not.

I'm just saying - why are you continuing to waste poster time and attention with chickenshit when we could be talking about real issues.

It doesn't really matter to me - if others want to waste more of their time trying to explain to you why the Chrystler deal really wasn't all that bad from a ends-justify-the-means then that's their prerogative. I was trying to be civil but whatever.
 
[quote name='camoor']I'm just saying - why are you continuing to waste poster time and attention with chickenshit when we could be talking about real issues.[/QUOTE]

I wasn't aware that the "New Thread" button only appeared for select posters. Guess I should count myself lucky.
 
[quote name='UncleBob']Yes. Even in the worst-case-scenario of a full-scale "Great Depression", we learned a lot of lessons. All we've learned from this "Great Recession" is that Uncle Sam is willing to bail out your failing business on the tax payer's dime - so take whatever risks you want.
[/QUOTE]

I agree to a degree, but there's an easier way to fix that without taking the entire country into a depression which makes little to no sense except to an ideologue, it's called regulation and enforcing the laws. You put a few bankers in jail post the '08 collapse, and the behavior is curtailed.
 
Seems worthwhile to me given the thousands of jobs that would have been lost if Chrysler had went under. Everything from the dealerships and factories to lost positions in companies that supplied parts and shipped them etc.

With unemployment being very slow to come down, any of the bailout funds that saved jobs look like a good thing to me in hindsight.
 
[quote name='lawdood']You put a few bankers in jail post the '08 collapse, and the behavior is curtailed.[/QUOTE]

Yup. Works for druggies and murders too.

Where's our local Criminal Justice experts?

[quote name='dmaul1114']Seems worthwhile to me given the thousands of jobs that would have been lost if Chrysler had went under. Everything from the dealerships and factories to lost positions in companies that supplied parts and shipped them etc.[/quote]

More assumptions.
*assuming* Chrysler went out, who's to say another company wouldn't come in and fill the void? That the dealerships wouldn't sign agreements with other car manufactures? Auto part suppliers wouldn't cut deals with other manufactures?

Chrysler doesn't operate in a void. Should they disappear tomorrow, there won't suddenly be a drop in demand for vehicles equal to the amount of the market that Chrysler controls. Someone looking at a Chrysler vehicle today would be looking at a Ford, Toyota or whatever tomorrow in a post-Chrysler world. This would increase demand at the dealerships and auto part suppliers.
 
[quote name='UncleBob']Yup. Works for druggies and murders too.

Where's our local Criminal Justice experts?
[/QUOTE]

Rich bankers and Wall Street execs are far different than your average druggie or murderer. :roll:
 
Yeah, the difference is they're snorting coke, not buying some cheap shit off some guy on a corner. :rofl:
 
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