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The high stakes game of "bluff poker" continues where the tax payers are the bank.This is the same "extortion game" that created the current situation where the UAW would select their "strike victim"and proceed to extort unsustainable wages and benefits since a strike could force the victim to loose market share! Wow!Guess where they all are today.All they need is another 25 0r 30 billion to continue to play.When will this game end?

GM's stock has gone from $64 when Rick Wagoner took over to less than $3 today. GM is made up of over 90% of men in middle to upper management positions despite over 65% of women as the primary purchaser of new cars. Also, GM has a history of sex discrimination and harrassment. Some examples include the Mexico plant where women had to be inspected to see if they were menstrating in order to work at the plant and a Northeast American plant where black women were harrased by men where black stockings over their privates to note that the black women had black private hair. GM is sick.

I think they should take a pole on how many will buy there product if they get another bailout then a pole on how many will buy there products if they go bankrupt I,ll bet there would not be much difference

Dale Muncie In.
x gm worker

I wonder if the government has ask them what they have done with the money they already got

Peter, this blog is VAGUE. Do you suggest that they go bankrupt? Do you suggest that the government continue with bailouts?
The real question is do we want a depression now, or the slim possibility of not having this condition later?
If the auto industry goes under - it's now - within the next 4 months. If it is allowed to go we are going to have, as Ross Perot said, "this great sucking sound" which will take the already weak economy right into the abyss. On the other hand, if they are supported with taxpayer money, we may still get the same result. It's a gamble, but one that has to be taken. So far this has been falling dominoes, from housing through the banks and continuing to add to the existing woes is surely not the road to recovery. Everyone is losing confidence and getting angry.
I have been calling this for over 2 years and have extensive blog comment history to prove it. I have also been quite accurate at predicting what is next and I firmly believe that we have to support this industry as there is simply too much in the way of supplier end and JOBS to ignore. Once the Stigma of bankruptcy arrives at any one of the big three, it will take the other two with it resulting in at least 1 million jobs lost in short order. That is a recipe for total disaster.

This is far from over and the hurdles will be massive as I fully expect that we will hear from nature sometime soon. Damning natural events are historically part of major economic upheavals.
As it stands I tend to think of our new president as O Foo. (Obama full of oratory). He is good and going in the right direction but has our august body of Congress to contend with. That crowd is going right with Franklin - they agree to disagree and this is not the time. We do need leadership and we do need direction.
Let's all hope that he gets it right or at least half-way. There is no doubt that all of the best are in the same boat and guessing too!

I agree with Dave. I mean seriously, this economy is more powerful than any stimulus package. I read an interesting article where there is already talk about a Detroit's sports team going under. This should progress rather quickly in the next few months.

I think its possible that one goes under, what does everything else think? If so, who?

http://www.gotoguy.com/2009/02/10/detroit-who-will-be-1st/

I say give them the money. I would rather it go to companies that provide good paying American blue collar jobs than the fat cat wiz kids on Wall Street. Rebuilding our manufacturing base will rebuild our economy!Be American!!! Buy American!!!

Like I said before, the auto makers are back once again for more, not for more bail out money, but for more oops we screwed up and someone (the American people) have to bail us out, afterall, we are the backbone of America. This money is going to pay for their myopic debts. The banks who also made mistakes are once again back for more money, not to help the American people, but to get the American people to pay for their bad debts, not toxic assets. Who even came up with that term? Obama said that he would go over line item by line item wasteful government spending and make corrections where needed for wasteful spending. I know that this is rhetoric, but where was this ideal with the stimulus package that puts sand mice before the needs of the American people? I don’t think it is too late to cut Democratic pent up spending from the stimulus, oh, I mean, spending package

Let them fall! Can not they see? American
cars are JUNK! and billions want save that ugly JUNK!

Based on our form of capitalism, they need to go through banruptcy re-reoganization, if they can, or be liquidated.

This economic debacle was created by fraudulent "creative accounting practices" that violated our capitalistic standards and ethics. It is time to revert back to REGULATED Free Market Economy with diligent oversight and prosecution of any CEO or corporation that violates the regulations . . . still penalties, fines, and lengthy PRISON sentences for CEOs and corporate managment who corruptly violate the regualtions.

Quite simply I believe Obama and the Spendocrats could have killed
two birds with one stone if they simply paid every American family
$10,000.00 to purchase an American car and by Amrican car I mean
Ford/Lincoln/Mercury - Dodge/Chrysler/Jeep - GM and Saturn products
NOT those Toyotas or Honda that are manufactured in the US.

The 787 Billion stimulus (money borrowed from China , why else do you
think Hillary is in Asia right now) would have paid EVERY SINGLE U.S.
CITIZEN some $2600.00 based on a family of four that is 10g's+ each

I find it terribly frightening that Honda, Toyota and BMW can
manufacture cars in the US cheaper than the true American marquees

US automakers need to rethink their strategy. If receiving "bailout funds" they should be required to build all vehicles sold in the US in the US. As a matter of fact this should be a requirement for all products

ANYTHING SOLD IN THE USA IS REQUIRED TO BE MANUFACTURED IN THE USA

You're darn tootin' I'm a protectionist. All good Patriots are.

How much is too much to just rubber stamp? *ANY* amount, that's how much. The government should not be giving away one thin dime of *your and my* money without at least reviewing something submitted by the auto companies indicating how they're going to use it, and what reason we should believe that it's not just going to get flushed down the toilet along with all the other money they've hemorrhaged. They say there isn't enough time for that? Well, then, why did they wait so long to come begging? Sounds like a pressure tactic to me, to keep the government from having the time to perform the necessary review and discussion.

I don't know about everyone else but I've got my passport and I think you should to because it is getting ready to be time to get the hell out of here!