President Barack Obama Message Board

STOCKTALK

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Politics : President Barack Obama

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To: stockman_scott who wrote (45162)	11/19/2008 7:27:15 PM
From: tejek	Read Replies (1) of 149317

Yes...I agree many bad decisions were made by ALL of the Big 3 automakers in the past...the companies are in intensive care and the question is what are they going to do going forward...?? This economy is in a DEEP recession, the credit markets are still frozen -- we may face systemic risk if we allow GM, Chrysler and many of their suppliers to fail...too many jobs at stake...too many unintended consequences are possible...As Cramer said today both the major Auto firms and Banking firms MUST be saved -- it's better than any alternative at this moment. These guys didn't help their case by each flying in their own corporate jet to DC yesterday. I know in the grand scheme of things that's small stuff but these guys can't seem to get it through their heads that they are asking the public to carry part of their load for them and the public is watching. They could have least all gone in one jet.

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