Frontpage of today's Detroit Free Press reflects the growing anger and fear over the Big 3

[Bozita]

[mdmc]

1. what was citi groups "concrete" plan that all is not in vain?

:shrug:

[pampango]

6. Not being a Wall Street insider, I don't know what their "plan", if any, looked like.

The only conditions I have seen attached to the Citi bailout were government control over executive pay and payment of dividends, and partial government ownership of the company through stock ownership.

I would think that those same conditions, even without a concrete plan for future changes to the industry (which I would like to see but the industry seems to resist), would be applicable to the auto industry as well and could be done quickly. I know that two of the three CEO's weren't very happy at the congressional hearings at the idea of third party control of their compensation, if their industry is in dire straits and threatened with bankruptcy, they should somehow be forced to comply with these fairly minimal conditions.

[rurallib]

2. Banks have gotten huge bucks just for the asking

Whereas Detroit has to at least jump through some hoops. Banks should have been been doing that also, but....

[Romulox]

3. We are the sacrificial lamb that is supposed to atone for violating the "Free Market" religion

Americans love a scapegoat! :puke:

[msongs]

4. because auto bailout $$ = observable, measurable, & accountable whereas ->

money given to the finance/insurance industry will disappear down a dark hole and nobody knows where it is really going (well, we know its going into personal accounts of the corporate execs and their cronies). Democrats & repubs in congress are paying off their corporate masters and hiding as much as they can from our view.

Msongs

[Zenlitened]

10. Ding! No more calls, we have a winner!

:hi:

Plus, all those grubby horrible working people might be helped, and the very notion of this so terribly offends the delicate sensibilities of the overclass. Good heavens! *swoon*

:grr:

[Two Americas]

5. unions

If Wall Street was unionized, they wouldn't have gotten any loot.

[leftofthedial]

7. this is a congame

the not so "Big 3" and the corporatist "free marketeers" in DC want to destroy the unions. This is how to do it.

[librechik]

8. Auto Workers don't give enough money to the GOP

workers? What are those?

[KurtNYC]

9. Leverage -- Some entity that got bailout bucks will buy auto biz at fire sale prices

This is the big finale for the kleptocracy -- an orgiastic raid on the Treasury without any accountability or collateral.