Is It Possible For The Automakers To Wait Until The New Congress Is Sworn In To Receive Help?

[AzDar]

Why even bother asking these current rat-fuckers for help? Is the situation that dire?
Anyone know?

[lapfog_1]

1. The word was (which may have been a bit of hyperbole)

that GM would have to declare bankruptcy by the end of this calendar year.

Who knows if that is the literal truth.

They need to hold on till January 7th (the 111th Congress is sworn in on January 6th). That's about 26 days from now.

The threat to file could be empty or it could be real (in which case, well... it's been a nice life).

[Divine Discontent]

2. that comment in parenthesis cracked me UP, so true (it's that or cry, I don't wanna do that) eom

[AzDar]

7. Well, that's good news. While I have no doubt that the Big 3 is in an extremely bad way,

the timing was awfully suspicious. It was almost as if they saw Wall Street getting all that cash, and decided they'd better get theirs RIGHT NOW, too.

It's beginning to seem more fooking likely that this is another ham-handed attempt at Union busting.

The new Congress will hopefully understand that they need to SAVE THE AMERICAN WORKER, if they want to save the American Economy.

[Uben]

3. They'll get the money.....

....eventually. Since this was voted down in the senate, the president will probably just give them the money out of the first bailout package, the 700 bln one passed for the banks.

[Divine Discontent]

4. oh, I was under the false impression then that this vote would have authorized the $ from the $700

thank you

[lapfog_1]

6. Actually the SHAME is that this vote was

taking money from another program previously approved to lend/give the big 3 $25B for developing next generation green car technology!

In other words, money that is already going to them anyway, just spread out over time and targeted to specific R&D programs.

And the f'ing repukes still voted it down.

[lapfog_1]

5. That's entirely possible.

See, it was so smart not to put those restrictions on what Paulson could do with the TARP money!

:sarcasm:

I hope he makes the announcement tomorrow. Otherwise it's going to be another bad day on wall street.

[BlueManDude]

8. this is what should have been done from the beginning - wait 'til January.