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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (45312)	11/20/2008 6:59:00 PM
From: stockman_scott	Read Replies (1) \| Respond to of 149317

Way too many jobs involved...If GM and Chrysler (the weakest of the 3) go down they could easily take down the major automotive suppliers -- and those are the same suppliers that Honda and Toyota buy over 2/3 of their parts from...and GM is the largest buyer of many important commodities (steel, aluminum, rubber, glass, etc)...many firms totally outside the automotive sector would see major disruptions if our largest automaker is liquidated -- Wilbur Ross is the bankruptcy and restructuring king and he says it's insane to allow a Big 3 automaker to go into Chapter 11 in this fragile economy...too many unintended consequences. Time for Congress to get creative...provide a bridge loan to the Big 3 now and then early in 2009 as a part of a massive stimulus package they could try something like this... Why is it that the Federal Government doesn't simply contract $25-$XXX billion dollars worth of vehicles (police cars, ambulances, school busses, city busses, army vehicles, etc) to be built new over the next X years.?? I mean a national upgrade of our service vehicle fleet. This will both keep a lot of US auto workers employed, and give taxpayers value for their investment. And it will start to ease the burden on already stretched state budgets who pay for much of this now. Or even more radically, contract the auto giants to produce an efficient Advanced Green Technology car for every American family over the next 5 years (only families making under $200,000 in income would qualify)...How's that for a tax credit...LOL. Answers are there, if Congress would look - instead of just writing blank checks. IMHO, it's time to be really creative and really bold.