have any questions for david gergen and our panel about the economy or politics? post em

Hellooo Anderson, Erica and best bloggers……….
Oh boy! Ouch!! bad news for me??? yeah……. Ford, GM and Chysler have bad news tonight…. are bailout now.

Hello everyone! Tomorrow looks like it will be an interesting news day.

Anderson: You know the date’s wrong? It says 12/02/08

Clearly it is only fair to the American autoworkers to help them keep their jobs they helped build the middle class, but at $34 billion how is it fair to the American taxpayers? We need to hold those who are responsible for the economic failure of the “Big 3″ accountable without slighting either the autoworkers or the taxpayers.

Good evening Anderson, Erica & 360 Bloggers!

What a day!

I don’t know if you have noticed but politics in Canada are kind of going crazy. Seriously……

CAM_Canada is not to sure what to think of it. This with the economy continuing to buckle under the strain; friends, things are not looking good.

Now what???
i wonder if they could cut their job or layoff people from 3 automakers?

Hello Bloggers: David Gergen said the Big 3 would get help, could he be wrong? The Big 3 will have a Big Burden on their shoulders to do some major convincing…..

If the bailout doesn’t happen for big auto what other options will GM, Ford and Chrysler have? And what effect would those options have on jobs in the auto industry?

For David and the panel, Can anyone explain how the default of a very small percentage of mortgages started all this?

If the US Gov’t bails out the Big 3 does that mean we get a break on our car payments?

I would have thought Treasury would have tracked where the money went. How do they not know? Why is the Treasury so clueless?

Now what?
I wonder if they could cut their jobs or layoff people from 3 automakers?? One more….. why not senate won’t vote for 3 automakers or no help bailout?

It is good publicity that the big 3 automakers are driving themselves to congress in hybrids… but did anyone think of asking which “exquisite” hotels they are staying in along the way?

I recently heard an interesting suggestion to help the ailing auto industry: give 2 million US citizens (however selected) $15,000 tax-free for the purpose of buying a GM, Ford, or Chrysler car. This way, the auto industry will get the money they claim to need, the taxpayers won’t have to worry about being paid back, and 2 million US citizens will get a new car (this plan could perhaps be used to aid lower income households and/or those who do not already own a vehicle).

Can Paulson be held responsible for the apparent loss of the money? legally maybe?

Who Killed the Electric Car?

Wow, David Gergen-how are you approaching the holiday season? Is this really a time to hold back. conserve and see where things go? I have enjoyed Obama’s picks so far. Too bad we have to wait until next year for things to happen.

Anderson, I have been your biggest fan, but I am mad at you and your CNN. Why is everyone so negative about the automaker bridge loan? Why would you show a picture of an auto executive in a car as a passenger and make the comment “we were told he drove.” Why weren’t the bankers held to this type of scrutiny? The bankers are who put the automakers in this situation in the first place with shady loans. The bankers knew what they were doing – yet they were given billions of dollars without congress blinking an eye! We in Michigan are suffering; more and more are losing their jobs and their homes. If the automakers go down, Michigan will go down with it. There will be no recovery. CNN is usually fair – please don’t turn into another Fox News. Yuck.

?’s 4 panel
– what predictions do you have for the next 1-5 years if the tax payers pay to assist the automotive industry and if they do not; in your opinion will the mojority of Americans regret helping if we do or can they benifit aswell?

The big 3 auto execs are working so hard to convince Congress to bail them out. Why aren’t they doing anything to convince the American people? It only makes sense that if they want the support of Congress, they need to have the public on their side. They turned down a chance to speak on Larry King Live – a great opportunity to explain to us, why we should bail them out.

Fine, bail out the big three. But only after the executives and union leaders resign, with no golden parachutes.

It is important not to give out the rest of the money. I’m sure President Obama has plans for the money and we don’t want it all gone because the Bush administration gave it all away, without oversight

Hey David! Do you really believe all this throwing around of tax payers dollars is from bad mortgages and foreclosures?

Why don’t Ford, Chrysler and GM issue stock? Oh yeah, their companies are virtually worhtless, so nobody wants to buy their stock. The solution, let them tough it out the way any other publicly traded business has to–liquidate and reformulate focusing on core products (not financing, etc.), cut salaries and benefits, and rebulld value on their balance sheets.

I thought that some of the 700B bailout was for buying equity stakes or something like stock in the banks that would have a return for the taxpayer, and that recently some money was recently used to buy up troubled mortgages or am I missing th point here.

Why aren’t the votes there for a big three bailout? this is the heart of US industry?

Hi Anderson, Erica, everyone.

The media is not correctly framing the issue of the lack of accountability for the bailout funds. We shouldn’t be asking whether Pauson should get the remaining funds. We should be asking how we’ll hold him accountable for giving out the initial funds WITHOUT any strings!

how many cars have to be sold to pay back billions? big mark up

Does Obama has a plan to save these auto makers after he takes office?

The bailout is necessary. However, cutting American jobs is in conflict with the purpose of the bailout. I would suggest that the big three bailout is more important than that of our financial institutions. The key is the oversight . The Wall Street bailout has not addressed effective accountability

It is interesting to note that the cost of the bailout may be greater than the value of the big three stocks at the current market value. My four issues – Oversight, oversight, oversight and the protection of American jobs.

I believe that the Big 3 should get some help. But if there’s the same amount of oversight that’s being used in the current 700 billion dollar bailout, which is barely, what’s the point? The Big 3 will be in the same position a year from now. There must be oversight on where this money goes.

So really these CEOs came by car… and made sure that cameras saw that… and the way home??? And how could anyone think that a company that would be bakrupt without a bailout until end of december would be rescued with this bailout… and if they were then believe they will ever be able to pay back the money… that sounds like a bad joke.
These CEOs were asked to come along with a concept … and they came to ask for more money than before…he? and their plan is? to do it better than before??
The gov should keep this money and pay the poor people out who will be unemployed sooner or later.

no-one from the Bush Adminastration should be allowed to spend one scent that has to be authorized by Congress

Gee, Mike’s Auto Company needs a bailout. Can I have a billion?

We need to make the government make all tax monies used be accounted for and made public domaine on the internet- this is america. We are not free if we are being lied to, we must demand accountability.

Continue to keep them honest! What can the press do to put even more focus on the use of the bail out funds? Something needs to be done now, before all the money is gone.

Hank Paulson is the worst tres sec EVER …

I believe that the American public has been mislead once again. The package that is brought before Congress is a loam, not a handout like the banks received. When the big east coast banks wanted a handout, it was there, when the auto companies want a loan,, it is not there. This is typical politics, when the average American companies need help, it is not given.

I just saw a car commercial offering 0% interest for 72 months and $5000 cash back. They are really desperate.

David Gergen, I heard today that banks have been using bailout money to buy other banks! Shouldn’t this be illegal? This certainly isn’t helping to fix the economy.

I don’t think it’s a mistake that treasury dished out the bail out money to the banks without safe guards. This just seems to be the usual Bush administration at work.

Back in October the nine largest banks were given $250,000,000,000. The gov’t is not is the business of lending money….banks are! The banks, the automakers, and the gov’t all need to come together and figure out how the banks can lend the automaker’s these loans, possibly lines of credit, that they are needing. Doing this all three entities, including the taxpayers, could come out on top!

Bail out subject to: Big 3 entering Chapt 11 reorg, providing viable 5-year plan, Merging Chrysler and not bailing out Cerberus

The cost of private jets is a pitance compared to the overall expenses of these multi-billion dollar companies. While these executives are driving for hours in cars, they’re wasting time they could be running the company and trying to turn things around.

I think they’re terrible CEOs, especially Rick Wagner, but it’s insulting that the American public is making a big deal out of something so ridiculously inconsequential. The actual issues about what should be done with these failing companies should be getting ALL the air time. How much precious public discourse are we going to waste tabloid gossip type news?

Anderson,
Someone is lying when they say they do not know where the money from the first bailout went. Paulsin knows where it went. To say he is the fool is wrong. The fools are the American people and Congress if they allow him to spend one more dime of the money. The remaining money should not be spent until Barack comes into office. He will see that the money is spent to help America–not to make Paulsin’s friends richer. THERE MUST BE SAFE GUARDS PUT ON THIS MONEY NOW!

I don’t feel one more penny should go out of the bailout “piggy bank” unitl the money already given up is accounted for.
The Treasury and those Senators who rushed to vote for it agains the will of THE PEOPLE need to be held accountlbe as I am for paying my taxes.

Good evening!

I guess my question is how can we balance the potential job loss of not bailing out of the Big 3 with the needs of the taxpayers?

Let’s listen to the auto executive companies See the business plan then make a decision.

Why can’t America just do the right thing?

Wait, the Treasury cannot track the money already spent under the TARP program? STOP.

We (the taxpayer) must stop handing over money into the black hole/money pit that is Wall Street.

The Bush administration should not get their hands on another dime of the money Congress approved to bail out the economy. Paulsen will do nothing but continue the Bush policy of the rich get richer and the poor get screwed. Whatever happens without this money being spent before Obama takes office cannot be worse than what will happen if Paulsen is left in charge.

Greed is ruining our nation. I forsee in 5 years or less, the US government will be overthrown. They will be broke and ripe for the taking. PS: I am a salary GM retiree.

Denise
Davison, Michigan

things are happening to fast for any of the so called “experts” to really figure out what is happening – we need to shutdown wall street for 3 weeks and post a moratorium on all payments so that a cohesive plan can be put together that makes logical sense

I can’t believe we would spend trillions and just shrug our shoulders as if its no big deal that we don’t know where this money is going. c’mon – give me a break

Hi
This is for the group. Two things…now Paulson might use the balance of the 700 billion without waiting for Obama to take office.
More accountability will surely come if that happens…Why isn’t anyone pressing for where the first 350 went.
Also, if there is no bailout of the big 3, then if they go under why isn’t anyone talking how that will affect the overall econmy and the unemployment that will have to be spent. Will the dollars of unemployment benefits equal the cost of the bailout over a period of time

The Big 3’s workers are heavily responsible for the mess that the companies are in. For decades, they have insisted on wages, benefits, work rules, and job security guarantees that were clearly putting their employers at a huge economic disadvantage to their competitors. This is the result. The UAW has to be ready to tear up the existing contracts if they want to keep their jobs

If Paulson used the second half of the money, how much with the President-Elect ask for?

why wont people look at the real problem…gas is the main problem, the government dont want to talk about it much. they get taxes off of it. thats whats affecting all the cost issues we’re facing today…cars, groceries, etc.

It seems that the same tactics stating that the economy will blead more & will cause a nose dive of the economy leading to a recession is being used by whomsoever needing bailout now. Lets ask these auto companies to go under Chapter 11 & then negotiate all their contracts, fire the management & force these companies to cut down on the number of cars that they make. All these steps will take sometime but the congress need to enforce tighter rules & oversight. But once again we the people cannot trust the jerks in Washington.

This may sound naive so please explain it to me like a child…everyone has read the email circulating which discusses breaking down the huge bailout into roughly a couple hundred thousand for every adult in the US. Why is that so far-fetched? why wouldn’t that work? Mortgages could get paid down, cars could get purchased, down payments could be made, credit card debt could be erased… Is this really such a bad idea?

Idea…….How about having the oil companies…Exxon, Chevron, etc. help bail out GM and gang with the oil companies obscene profit windfalls in recent year.

I’ll buy their stock and have billions in ten years

I don’t think Bush can get this problem solved, he has proved that, President Obama should be allowed to work with this money. We need to let someone else take a shot, someone the public is supporting- Bush does not have the support, it isn’t going to work,

No bail out for 3 bigs.I drive 2004 Ford 150 pick up.Paid for it 28 grand.
Still making payments.Let them file for chap.11.Who is going to bail out us working people already without job.

Hello Anderson. I have a Question. Do you think that a free commerce treaty with latin american countries will increase the amount of consumers for USA businesses as much as cutting taxes, or at least be of great help to avoid a depression?

Hi Anderson
Do you think government should check all the acts Paul Anderson?
Because no body knows what he is doing?Congress should make sure that these auto people in case if they get the loan do not go on party.

There is an equivalent Detroit-Three issue going on in Canada, too. Some think we should precede the US into making some kind of offer to the car companies because it would provide us more leverage in dealing with them later. Others don’t think we should help them at all.

All they are really asking for here is for the government to back them for a loan since they have basically no credit available to them. Is that similar to what they are asking for in the US, now that they have actually been forced to think about it for a little while?

Bush, Paulson, and the lame duck Congress are looting the Treasury. Rather than being naive, Paulson knows exactly what he is doing … performing a classic bait-and-switch, overseeing the destruction of a former competitor (Lehman Bros.), and not taking the time to set up proper oversight of the distribution of monies.

The bailout money is not being tracked or accounted for because Henry Paulson is part of the Bush administration. Bush, that is. Get it?

Time after time after time, the gov’t keeps screwing “main street”.
Doesn’t matter if it is Republican or Democrats. We vote the idiots out and put new idiots in. Politicans will say anything to get their power and then screw the public. Only a matter of time and Obama will get his turn. The more and more gov’t gets invoved, the more they screw it up. And we want to have National Health care? Lord, we get what we deserve

I don’t think these clowns realize how close they are coming to setting off rioting in the streets with their foolishness. I’m talking about all these corporate and banking yahoos and Paulson, the U.S. Treasury, the Bush administration, and Congress.

I say not another penny to any of these corporations and banks with their fat hands out. It’s quite apparent they don’t appreciate anything.

Let them fall, let them fall, let them fall!
Or is that a snow job?

Listen please. I am from Detroit, we need the loan for the car industry. It is not a bail out it is a loan. The treasury cuts a 20 billion dollar check to Citi Group. Why was their CEO not testifying before congress on why they need the money, and how they plan on spending it? The American people are foolish if they the big 3 does not affect them- it does. This is a loan America. Michigan is your sister state and we need help now.

when will the “bailouts” stop? Who is next the airline industry again?

I think that there are three requirements for a loan to the auto industry:
1. Every penny of the loan is tracked.
2. None of the money should be used for bonuses, private jets, or luxuries of that type.
3. The current CEOs either step down or put forth a new, economic, and green plan that is approved by congress.
A collapse of the big three wouldn’t kill the economy, but it could weaken it and we want every piece of strength we can get; however, a non-regulated plan for this loan could also be bad as it’s more money down the drain

I cannot understand why there were no safeguards in place for the bailouts. There should be automatic audits of these companies and not on a scheduled basis. AIG is one that needs them every 30 days, Before any more money is released, set up safeguards!! And HIRE competent auditors.

Anderson, if this is indeed a loan, will this machine called the media stop calling it a bailout?? Let us speak truths and see the new public opinion on a bridge loan to the Big 3.

how in the world did our government after all of them standing up on all hind legs possible allow the treasury department to release this money with no accountability, here they are trying to tell us all how what they were going to do would benefit us and now its seems like another huge incompetence on their part. How any executive with a conscience can take a bonus is beyond me, where is the human side to these people? I dont think they would miss their bonus when they make 19 million annually per year and more

I see no way that a bailout of the AutoIndustry is better thatn chapter 11:
The Legacy costs, i.e., retirement on full pay at ages 52-54, make it impossible to compete with non-union companies. The shortest distance to reasonable costs lies in the direction of Chapter 11.

I am still against the automobile bailout, but I’d like David to address what assurances he thinks the automakers need to give the government before they agree to go through with any bailout. I think we need to see some benchmarks set.

When will they learn? As of Today Look at New Orleans or Galveston. Hows that clean up going. FEMA ? How about the Billions missing in Iraq?

Mr. Gergen,
Why is there so much hullabaloo about the auto execs taking private jets? Aren’t the bankers living high on the hog too? Don’t they fly around in private jets? Did any of the bankers take pay cuts? Michigan simply cannot survive without the Big 3.

$350 Billion to Wall Street and the Banks and we don’t know where it went! Outrageous! How can we accept this and then stiff arm the Auto manuafacturers and the workers for ONLY 35 Billion?

Doesn’t Congress have to give approval if Treasury decides to ask for the rest of the Bailout money?

It seems like same old buisness as usual, hand the money over and no accountability?

How long can this go on before we all wind up on the soup lines?
Give just a little of this money to the new up and comming companies that already have alternative vehicles.

Holy cow! Ya know, it’s first time shame on you, next time shame on me.

I am so sick and tired of treating us poor folk as mere money machines to fund these hair-brained bail-out schemes. I am a human being, not Carol’s Bank & Trust. Wait, I can’t be a bank, I have too much integrity. And as much as I rant and rave to my duly elected officials, they continue to do as they damn well please.

I’m mad as hell and I’m not going to take it anymore!

I would like know why the American public is raising such an outcry about loaning the auto industry $35 billion, and no one seems to be outraged by the $350 billion already given to the banking industry. How are the two any different? I was opposed to the original bank bailout for a number of reasons, mostly because there were no guarantees money would go to people about to lose their houses. I am in favor of a loan to the auto industry (with limitations), because if the big 3 go down, there will no longer be a middle class in America.

Question for David Gergen and the panel –

What happens to the Big 3 and our economy if there is no bailout? Aren’t we going to end up paying more later?

I’m so sick of this government!! Paulsen is a wolf in sheep clothing. If anyone should be accountable he is the man, but he was given carte blanche by this administration. The only thing that makes me feel better sleeping at night is knowing that Yahweh sees all and knows all. Where is the accountability ????????

“…and 2 million US citizens will get a new car…”

I applaud the creativity getting to this solution, but what about the waste–we cant just keep building cars forever and ever and ever. Somewhere (maybe in our children’s lifetimes) something HAS to change.

I was always under the assumption that congrees held the purse strings. If Congress has to vote up or down, on the Big 3 Who gave Treasurey Sec. Paulson the Purse to rescue the banks? This had to be the biggest heist in American History. The Maffai couldnt have done it any better.

The whole bailout makes me sad… Did anyone really think that the corruption in wallstreet would evaporate because of a hudge bailout? In my opinion they just gave a lot of taxpayer money to the most corrupt of the corrupt.

I just hope Obama goes in and cleans house. I realize we are the leader in the world, but isn’t it time people grew up? People are punished every day for financial mistakes, and yet when wallstreet makes worse mistakes they are bailed out. It is time for a change. With any bailout, we as people need to demand that we get a good return on the investment, and by this I mean monthly payments to the government.

Doesn’t Hank Paulson’s lack of oversight give Congress enough reason to stop this madness? That Paulson would trust those on Wall Street, people he knows well, to do the “right thing” with this bail out money is beyond insanity. Paulson should be dismissed, or at the very least, marginalized so that he can’t make any more mistakes with our money. I was aghast at your report tonight. What do they mean they don’t know where it has gone? How can that possibly be? I hope we can make it until January 20. I’m really scared.

Aren’t we a capitalist society? Isn’t this auto bailout a socialist move? Even if you call them loans, do you honestly think they’ll be able to pay back this loan? The billions they’re asking for may seem like a lot to the American public, but to these companies, it’s a drop in the bucket. Ford has over $160 billion in debt. What will their “loan” do, exactly?

Good report on the banks and the problems with the Treasury NOT knowing where the bail-out funds are going and for what use; but what evidence do you have that the banks are NOT doing the right thing? It seems to me that there is a great sense of humility on Wall Street right now, and rampant speculation that all Wall Streeters are evil and are certain to spend like drunken sailors is just not accurate. I think the Street will surprise to the upside

Ridiculous that there was no oversight for the bail out of the banks. Any bank that has recieved money should be responsible for reporting where the money went. Where is George Bush during all this. This process should be transparent…..

Can we please stop being so ignorante.These pawns in congress are the same creatures asking for money on Wall Street.All spawned from the Federal Reserve.We need to close the Federal Reserve and go back on thr gold standard and let the Big 3 deal with the bumps and holes in the road they created.

i have been in the auto industry for 17 years and just lost my job. no warning just im sorry. i know how hard it is to support your family when this happens. if the auto industry isnt helped it will be a desaster. people in america havent thought of the reprocussions for some time. when they have a choice to buy american they dont. toyota, hyundai, subaru, ect. we need to support our country first

There are many factors impacting the big 3, not all executive issues. A change there will not “fix” the issues that caused this situation with the big 3. Although might help going forward.

Why not sell the companies, let competitor buy whole or part and let free market system work.

Let the UAW purchase one/all of them and run as they deem best.

What is the yearly average pay with benefits of an autoworker for the big 3 vs honda or toyota, not including management?

Paulson should be held responsible for every dime he gave out.
No oversight? and no tracking of the TARP money given out? This is just simply unbelieveable. I can’t believe this is a goverment agency.
Paulson at all cost should not be allowed to touch the remaining 700 B$ funds. Just incredible.

My question…

How can an “anonymous” congressperson block the GAO auditors from overseeing the distribution of the bailout monies. Wasting three week of oversight as the Treasury is poised to come back and ask for the remainder of the $700 billion seem ludicrous at best, possibly criminal at worst.

I believe that if anyone owes money to credit cards companies that have received bailouts, they should deduct their taxpayer share of the bailout off of their credit card bill. No one should have to pay a credit card company twice. I am seriously considering not paying my Chase credit cards anymore. I believe my share of the bailout covers what I owe. What do you think?

It would be helpful if you had someone on that actual understood how a bank works. The money received from TARP adds to a bank’s capital. The banks, due to losses, are still short on capital. So they will not increase lending appreciably until capital levels stabilize and their boards and management are comfortable that they will be able to maintain the government mandated capital levels in the future.

Regarding the “bail out”…Congress should not release another penny until every penny already given out has been accounted for!!! And how can these “financial experts” not know how to track the money given? Didn’t these people have to go to school to learn about finances? If the American people can track money being spent in their checkbooks, you would think the finance department would be able to track money given in the bail out. This is a slap in the face to the public! Do they think we’re stupid?

It is hard for someone who went through the decline of the steel (10 years in the steel mill) industry back in the 70’s and 80’s feel to bad for the big three when the steel industry was left to flounder and drowned.
After all we lost thousands of jobs, pensions and homes back then.

OMG!!!! I was just mentioned on tv!!! So cool! Thanx Anderson!!!

so if the big 3 or any one of them are gone would not the same amount of new vehicle be sold by those remaining
companies? the us auto industry is now in the southeast us

Question: Will the new adminstration be allowed to hold people accountable for lack of oversight for the money used during the Bush administration, if they are no longer in their office

Why can’t this country make the right decisions. People in this country are so selfish.

Get it right AMERICA

Hank Paulson is the worst tres sec EVER …
I agree with you, Chris from STL……. he is more worst treasury secretary ever!

Plenty of people looking for work, set up our own lookouts and charge it to them. Sounds fair to me.

GM, Ford and Chrysler got into this situation because they’ve built shoddy products for years, while given far too many concessions to the UAW. Foreign manufacturers are building cars in America using American workers in non-union plants in the south, and turn out better products. It’s time for the unions to go!

I think that the actions of our Government in the last 4 months has been disgusting. We are just keeping the rich, corrupt CEO’s rich and corrupt through these Bailouts. The American people have not been helped at all in the last 4 months. The American people are not the Governments priority, lining the pockets of their rich buddies is. As a 26 year old American I am so disgusted with our leaders in Washington, I think we need to overhaul our Government and put in one that actually cares about its people and doesn’t just want to exploit them every chance they have.

I don’t want to see the big 3 fail. What I do believe is that new management must be the first order. A complete change in the cars being made is second. Isn’t it unbelievable that Americans have been buying cars made in Asia while these fat cats were collecting their bonuses, options and asking for union concessions; yet no one on the boards or the corner suites could figure out why the companies were bleeding!!!! Really!!!

Something people do not realize is that what happens when chapter 11 is filed for the workers. Well guess what, the workers LOSE their pensions. Imagine tens, if not hundreds of thousands of workers that now have to draw money from unemployment, rather than pay taxes.

Why has nobody raised the point that even if the US automakers don’t receive government assistance, US taxpayers will still pay in the form of increased unemployment benefits, welfare, Medicaid, etc. for all of the those who lose their jobs. The state of Michigan would be devastated for years.

I completely oppose the bailout for the Auto Companies. I think that money should be used to take care of the people affected by the aftermath. Open up that money to the cities and towns that would be affected, so that they can attract other industries or so that other companies can come in and take over where these failing companies left off.

This is a governent made by the people for the people. Not made by the people for big business. Bailout people, not big business.

Ordinarily I would say no money. None, Nada, No Money.

I will now bend, give them the money if:
(1) the big three will change the management team.
(2) government auditors in charge of controlling the money and doling it out.
(3) UAW elected leaders assist the government auditors, with the power to stop payment at any time.
(4) This is the last loan or payment.

I do not understand why people believe that the workers are to blame when the economy is in shambles and potential car buyers are turned away because they cannot get credit, even though the financial sector has received over $350B.

People will not buy from a bankrupt car company. Would you have a bankrupt contractor build a house for you?

I’m in an economics class right now, and from my professor, I have learned that there are short term and long term effects. These bailout plans are short term solutions to this grandeur issue and it will not in the long run be beneficial to economy. i think in regards to the treasury, i think it is a blatant lie that they do not know how the money was spent and what happened to it. the irs knows taxpayers’ entire financial history, but the federal government does not know where the money went for the bailout. did they just up and loose over 100 Billion dollars? makes no sense to me

Why was Congress so quick to give our money to Wall Street, yet they can’t get the votes to bail out blue collar workers? I’m not saying I’m for either bail out, but there seems to be a double standard.

The big 3 need to take the hit. This will cause a loss of jobs, a complete collapse of our US Auto Industry and our weekend economy to slip even further. But sometimes you have to take a few steps back before you can start moving forward, and this is one of those steps.

Depressions stink. Rock bottom is coming in 09′ and it will not be fun. Just keep your eyes open for the light on the other side.

Josh – Jacksonville, FL

how can all experts be so sure that we will be through this situation with this money. you really think this is the bottom of our economy crisis?

Let’s not forget that $700 billion has loaded PORK to it. For example:
$192 MILLION on wool research.

Our nation is moving closer to a socialist state. Bailouts are not proving to be what taxpayers were expecting. For the free enterprise system to work properly those enterprises that were irresponsible and free-wheeling should be allowed to fail. No, no handouts and no loans to the autoindustry.

It’s an outrage that NO rules were put in place before money was doled out. What are they thinking???? Not one penny should be give until the inept Paulson is out and the new adiministration is in office. Obviously the same old story still goes on.

Due to overwhelming medical bills including from open heart surgery, I had to buy a used vehicle at 24% interest, because it was all I could get. It really angers me that the banks and the car companies expect a bailout at taxpayers’ expense. They sure didn’t care about me when I was in need.

Paulson should not be allowed to touch the remainder of the $700 bilion. The half he has already divvied up cannot be accounted for as the Treasury Dept did not keep track of who got what. This is totally ridiculous. For heaven’s sake, who the hell is in charge????

Paulson should be investigated!!!

Does anyone really trust these guys ? I say no more money for Paulson, I could handle it better than him. Leave it for the new President.

Hi Anderson – I wanted to write about tonight’s comments that the gvmt is not tracking how the bailout money is being spent and don’t know if CEO’s or executives are getting big bonuses and that we are going about business as usual. Well, it is as simple as checking in with the big companies. I work for one of them and we received notice in October that anyone making over 60K will not be receiving merit increases nor should expect any bonuses! That should tell you what is truly being done… we are also working on massive programs ahead of schedule to modify customer loans to help them retain their homes, I know and see this first hand every day!

63% of the American People are against helping the auto industry but sit idlely by as Wall Street is robbing us blind.

Let’s Wake Up. We have to help Auto, we have to “take to the streets” and mandate that Wall Street be requlated now.

Hi all,

I knew that the bailout money would not have any oversight, another blunder that is adding to the downward spiral. I hope that if this money has been spent inappropiate, there will be some people going to jail.

Mike, here’s $1 billion for you to bailout your car company–no need to keep track of it–have a great Christmas (and enjoy your bonus)!

1. Would refusing the loans to the Big 3, send the global economy into its biggest plunge yet?

Comment: Giving Paulson the second half off the 700 billion dollars is as good as an idea as: giving George Bush a second term.

The Banking industry should not get another penny until they first show where the original installment was spent and then wait until President Obama is in office. Bankers don’t have a problem making their cleints wait so they need a turn at their own tactics. They want to spend all the money under this administrations watch because they know what will happen when there is a changing of the guard.

Where is the American Oil Companies? Chevron, Mobile, etc………
Why aren’t they trying to help the auto industry with all of their wealth, considering all the record profits they are making is in direct response
to the usage of their products utilized by the auto industry being their number one consumer?

Aren’t we a capitalist society? Isn’t this auto bailout a socialist move? Even if you call them loans, do you honestly think they’ll be able to pay back this loan? The billions they’re asking for may seem like a lot to the American public, but to these companies, it’s a drop in the bucket. Ford has over $160 billion in debt. What will their “loan” do, exactly?

What does it mean for those who have nothing to do with the auto-company, whether they go bankrupt or not?

Regarding the comment about “Treasury Secretary Paulson was naive in dispensing the money, his friends let him down, and now he looks foolish”. After his many years on Wall Street, I doubt Henry Paulson is naive, and he doesn’t look “foolish” to me. It looks to me that the American Taxpayer got hoodwinked, and Paulson was the Master of Ceremonies.

I don’t think Paulson should be able to get his hand on the rest of the 750 billion dollars, because he has shown the world how good he is at mismanagement. He just passed out money with no accountability, I do not think that the Obama administration would be that careless. It is pass time for Bush/Chaney/Paulson to to to the house.

Carolyn Johnson
Man, West Virginia

Anderson,

If the auto industry goes down….it can be argued that taxpayers would suffer far more then if we just gave the big 3 money.

Ask any economists…we are talking a back bone of an industry that controls millions of jobs.

Stubborn or not, the taxpayer will suffer regardless.

Although, I think the condition of any bailout is all 3 CEO’s of these companies SHOULD BE FIRED.

Hey AC,

Why is it that the government knows about every penny I make but, the Treasury can’t keep track of the paperwork of these payouts? We need to know where this first half went.

I would NOT hand out the rest of the bailout money until we can get someone to take the accountability for this money.

Mike

I disagree with handing over more money to the treasury. they have foolishly given away far too much money already to banks. How has the government not monitored the distribution of money? the money should of been tracked and managed much better than it has been.

Why are the (3) auto companies lumped together in this deal – can’t the three be seperated and viewed as indivigual bail-outs? Maybe all three should not be included in the “bailout”?

The 5% Solution:
Require all lenders, credit card companies, etc., to reduce rates to 5%. People can then pay mortgages, car loans, credit card bills, etc. Everything can be fixed without bailout money!

Anderson,
Here is an idea… what if the oil companies bail out the auto companies? Aren’t they the ones that wanted the auto industry to make less fuel efficient vehicles? They seem to be part of the auto industries root cause failed strategies for years. Let see if Big Oil can man up.
-Stephen

Big oil companies reaped billions in profits recently as consumers burned their fuel in the tanks of GM, Ford, and Chrysler. Big oil should bailout the the auto companies.

The People that took this money and are not willing to show how it was used are just flat out CROOKS!!

We give money to the financial institutions and AIG without any accontability or plans on how the money will be used.When it comes to the auto makers we are demanding a plan.Where is the consistency? What about cutting credit card interest for the consumer?. He needs help too.

Anderson,
Here is a thought, lets loan the automakers money to build wind trubines. Right now there is not enough manufacturing in the world to shorten the back order of over a year.

How long will it take GM to pay this loan? Will they restart the electric cars production?

Question, why not go at economy w/ two pronged approach, wall street, and automakers? I don’t think big three can wait for bail out till Obama is in office, will that be soon enough for help?

Re the bank bailouts: I’d love to see a very public list of each institution that received $, how much they received, the names, salaries and bonuses paid to executives and managers, and the amount of $ they put back into circulation.

Good evening, Anderson & staff.

Here is my question: In the economic bailout, we have given $700 billion to various banks in order to provide loans & keep the economy running, so why don’t the automakers go to the banks for the money they need?

I’d like to know if David really believes that the Auto Execs time is best spent by driving to DC. The President of CNN certainly does not drive cross-country to meetings. It is such a waste of time and therefore money…all to satisfy a grandstanding congress and media types.

god help us….the country is being looted,,,who is watching these terrorists? money misspent? come on…who is at the wheel???

If the government wants to invest in companies and we the tax payers benefit from it i.e. health care or extra old age pensions then I am all for it. On the other hand Paulson and Bush best hang on to the money un til Obama has a chance to help where it was suppose to go, to the people that need it!

What is everybody hating on GM? The Chevrolet Cobalt XFE gets best in class fuel economy, 37 mpg. Better than the Honda Civic or Toyota Corolla. The 2008 Chevy Malibu was named North American Car of the Year, not the new Honda Accord.

What does GM (and Ford, Chrysler) have to do to get Americans to give their products a chance?

Why do they get blamed for building SUVs when American consumers were the ones wanting them, until gas prices skyrocketed?

If people actually paid attention they would see that GM and Ford are putting out great new products.

When a large corporation puts a small company out of business, it’s called competitive capitalism. When a large corporation puts itself out of business, it’s called a crisis. Let’s be clear.. using taxpayer money to prevent the gears of our economy from grinding to a halt is NOT the same thing as using tax payer money to support auto companies. We can’t set a precedent where size alone renders a company immune to failure.

Bailout? HA! It’s nothing more than a Republican scheme to empty the treasury, add to the debt, and make it harder for Barack to finance his Change program.

What, has everyone in Congress gone absolutely mad? It’s one thing to give a bailout, but why do so without any conditions? Who gets free money without having to agree to responsibilities? Just the people who made this mess, I guess. It’s nuts. Bernadine.

Heck, I’m a City Treasurer and I can’t imagine telling the City Council I have no way of accounting for the money they’ve spent! The Police Chief would lock me up until I figured it out!

It is pure idiosy to let treasury give out money to anyone with out demanding total accountability.
Mr. Paulson has been in the business way too long to not have done this.

TARP Fund – criminal behavior is rewarded with blank checks. The disclosure of the Govt. handing out billions of dollars with no accountability or disclosure of it’s use is outragious, unbelievable and bordering on criminal. The crooks on both sides of the money handouts should be rounded up and put in jail.

700 billion dollars is a vast sum of money to me. Maybe it’s not to the treasury, but it is to me. How can one person give away so much money and not know where it is going? Mr. Paulson, would you let funds be passed out like this for the company you led prior to taking the government position? I would rather yopu gave the 700 billion to the auto industry so they could reinvent the auto. At least with the auto industry we see in our own communities the result of the money spent.

Give the money to the people! Give us an Economic Stimulus Package!

In regards to the home mortgages isn’t Paulsen just going back to what the McCain people had advised earlier?

If the goverment does not bail out the big three, how long would it take for the big three to actually go down?

Has the Autoworkers union offered any concessions to allow the big 3 any sort assistance?

what has been accomplished with the bailout – homeowners are still losing their homes, banks still aren’t lending, exec’s are still abusing the system – oh – guess nothing has changed we just gave them a blank check on our future

this sounds more and more like the “we’ll be greeted as liberators” in Irag

I disagree. An “imperfect bailout” is not acceptable. An “imperfect bailout” is pure corruption and greed.

David,

Do you really think that spending more money will get us out of recession? Most americans are in debt and are cutting back spending. Shouldn’t that be what a responsible government would do? Excessive spending hasn’t worked in the past. I guess history will just repeat itself.

I say let the banks beg for the money like they are making the big three and don’t release any of the funds from the second half of the TRP.

As much as we all cringe at the thought of more tax dollars going to irresponsibility, I think it’s crucial to the future of this country that the big 3 stay afloat. I am scared to think what the unemployment rate would be without it, and clearly there are no jobs to replace these with. I am a caseworker and work first hand with the unemployed, and the public assistance, food stamp, and unemployment programs are turning into a horrible nightmare.

Can any one really believe that Henry Paulsen is “naive” about the conduct of his buddies on Wall Street? Please…he knows them perfectly well. He is one of them, and he is going to take care of his friends. And when the Bush administration is finally out of office, I have no doubt that his friends on Wall Street will return the favor. No, the naive ones were the legislators who believed that there could be any honor or respect for the intent of Congress at the Treasury and who gave these people a blank check. Congress should deny any further funds to the Treasury until every dollar which has been spent so far can be accounted for and be shown to have gone exactly where it was intended.

I would like to propose that the $35B loan be refunded by having the auto-makers provide an equivalent number of cars/trucks to both states and federal government. $35B is equivalent to 1.4M vehicles @ $25k each. These cars would be provided over a number of years and will help preserve and create jobs. The American people will feel we’re getting something for our money.

I don’t believe for one minute that Henry Paulson is clueless or naive. I think he’s taking care of his friends and not the American taxpayers. I’ll bet if he were handing out his own money the terms would have been clearly spelled out before any money changed hands

if the automakers fail how do we as americans live. we dont make anything here anymore. electronics, clothing, ect. we need to bring back industry here and we as americans have an obligation to support our country

How can we say that we’re concerned about regulating the $700m bailout package when we can’t even guarantee that the money given to the banks is not used for golden parachutes? Giving executives undeserved wealth is not regulation in my opinion.

I know this sounds overly simple, but it’s been said on this blog over and over. The oil companies need gas-powered autos to generate profits. Why can’t our government hook-up Exxon with GM, for example?

Why not bail out GM? We bailed out AIG when alot of people never heard of them. It seems like only friends of Paulson and Bush get bailed out!

if we allow these automakers to fail we will succeed in the long run because we will allow other smaller businesses to enter the market and grow and succeed. it may give them (automakers) an opportunity to revamp and try again. but y help them now if they are failing when everyone is failing. we cannot save the world, and if the “strongest” cannot survive, let them die. new power will come into action

I live in mid-michigan. GM is a very big part of our local economy. If they go down, it will destroy whats left of our area’s work force. we cant afford that much more un-employment here.

No No bail out, bail me out ijnstead am the one working hard and trying to keep myself from going under, will i get a bail out when i file for bankruptcy??

Sure.. Give the auto companies a loan. We already gave a quarter of the GDP to the financial sector. Another 30 billion dollars is like a raindrop in the ocean of absurdity. At least the Big 3 employ American workers.

let me get this straight…The bailout money that was given to the banks cannot be regulated by the treasury so the banks can do virtually what ever they want with it..??

Cooper i think bill clinton will do good supporting his wife hiliary clinton why wouldn’t he? think about it

Let’s do the tings right!
The autos companies are not asking for a bail out….
They are asking for a loan..

I don’t want any unreadable report by an oversight committee. I WANT RECEIPTS……POSTED ON THE INTERNET. Then, we will have transparency.

My big question though is what happens if it doesn’t work and the taxpayers are in for billions….will we step in and keep handing over money in the name of saving jobs and trying to get our original investment back? Don’t these bailouts back the government into a corner once the total pricetag gets too large and the credit of the government comes into question?

I want to know why america thinks porrly of the UAW? Anyone who makes more than minimun wage has them to thank. The UAW and all unions have for the most part fought for the the poor worker and thier familes. They also are responible for our 8 hour work day and most other foms of compensation. As a child my father worked (and still does for Gm). his salary allowed us a low middle class life style. this life style included the basiscs of what every american family deserves. Healthcare, ability to afford a home, and food in the house. America needs to address how high is to high for it’s CEO’s, wasteful goverment, and greedy bussiness owners need to take a back seat for everday americans survival

I do think that greed has taken over the US…but at the same time it is part of that greed that allows our economy to flourish. As people spend and pour money into the economy that will stimulate the economy.

Give the automakers a bailout but only if they set up a plan to relocate to southern states. These unions are driving the big 3 and all other companies to bankruptcy!

Why should the automakers or financial instudries get bailouts. Are they more important than the steel or textile instudreis??? I don’t think so.

The auto makers need to be told what product to make. They refuse to see the writng on the wall. They want to be rewarded for bad products. Concerned more with selling overseas than innovating the next generation of cars the world needs,

We don’t need no stinkin’ cars!

We should not bail them out. They need to be competitive in today’s economy. That means cutting capacity to meet demand. It also means dissolving the UAW. Japanese car maker employees do just fine without the UAW. Without these changes they can’t compete, and if they can’t compete, they will continue to hemerage money.

The big 3 auto makers should not be bailed out. Force them to reorganize. It’s tough love.

Why is it that only the RICH will get in on the new deal for home buyers?
With the prices still over inflated and interest rates now falling, only investors are able to snap up these properties and take advantage of it.
As they are here in San Diego Ca. Average buyers are priced out of the market while the rich get richer and rent them back to the middle class. How about if..banks..set a limit, like it MUST be your primary residence.

Ah gee, bail everyone but the American middle class. Really, the audacity of any organization asking our Government for the vulgar amounts of money.

Just send each household of natural born adult citizens a million buckaroos.

That would certainly ’stimulate’ the economy.

And STOP SHOPPING AT WAL-MART. Spend the money at stores who sell American made products.

Simple, thus, it won’t happen.

A car without a driver goes nowhere. A home without a family rots. There are plenty of cars to drive……. let the big 3 figure out how to stay afloat . 34 billion could help a lot of distressed home owners

Dave
Florida

Does anybody know that Toyota has R&D subsidies, health care, and currency manipulation from their governments? Our car companies have severe sales limits in Japan but the Japanese have none here. Yeah our car companies had some quality issues a few decades ago & that is when the Japanese took a lot of market share. It is always hard to get the market share back. Our car companies have stood by America for 100 years. They have solved their quality issues and make great products. They are the last bastion of high tech heavy manufacturing left in the US. You mean to tell me we can’t or shouldn’t support them? How can we bail out Wall St who cause this mess in the 1st place and not support them. Stupid! Buy American cars from American companies people!

Ok, so the big 3 are going to be testifying the next 2 days and Congress is already coming out and saying there is no support for a Big 3 auto bailout. Give them a chance to present their plan. They have enough of an uphill battle, don’t taint it before they present their case.

Ask David,
Do you think that UAW will help bailout 3 automakers, or they will not have to buy or sell their cars?

We are spending trillion. Why couldn’t the our lovely gov’t given every single TAX PAYING (key word) American(key also) say like $50,000

You talk about getting the economy going? Not the pennies (IE: $300/person) given out by our gracious gov’t several months ago.
People would have used that $$$ to pay their mortage(helping the hosing problem), others would buy unlimited stuff(helping the stores), others would SAVE(helping the banks) and others would INVEST(boosting the markets)

Read all about it….Free Money…
As soon as they handed out money to the financial industry, I thought the big three have got every lawyer and accountant working on how can we get in on this and justify our missing the boat on building efficient and alternate fuel technology.
Let them go under, maybe then somebody out there with an idea will finally get a chance to capitalize on it.
I think they call that capitalism?

why not bail out the people and let the automakers go bankrupt and then they can renegoiate the contracts with the union’s and do away with the golden parachutes for the executives.

Where are the people who are losing there homes bailout.I might lose my house because i don’t have just $8,000 to pay my second.Mean while my goverment can’t account for BILLIONS of dollars given to wealth Ceo’s.

It is a DISGRACE that the Treasury Deaprtment handed out the $350M without any accountability. I think the Treasuery Department inluding Mr. Paulson should be handed over to the firing squad and the CEO’s of the companies which took the bailout money should be fired immediately.
The rest of the $350M should NOT be handed over to bailout any company without a promise that the CEO will take the same pay as a regular worker and no bonus.
The BIG3 CEO’s should be fired but the BIG3 should merge all three autos into one under the management of Mr. Buffet and try to save 60% of the jobs.

Where is all this bailout money coming from? Taxes? Savings? What?

every influence to a market will bring it out of it´s balance – so it no more independent and the market results will show a wrong image of our markets. And to a wrong result wrong reactions follow …etc

so if the same amount of new vehicles were sold would it not create
additional jobs in the southeast of usa re nissan,toyota,honda etc

anderson
it looks to me that the gop wants leave as big a mess as they can?they are worried about 2012 and not the country? the demos cant possibly get us out of this mess in 4 yrs.

How come no one is talking about how the bailout is a failure in itself? I mean giving banks money so they can let “us” borrow, when borrowing is what got people in this mess in the first place! Please report Representative Gohmert’s resolution! Please!

I think Paulson knows right where the money went. He an burnecky handed it out. They should be held accountable like everyone else. If it had beed under Obama’s watch all the senators and congressmen would be shouting from the roof tops. This looks like WMD reasoning for going into Iraq. Gergin and every one else now say its ok because we were in an emergency. I know that people who are caught embezzling money are held accountable with prosecution. The treasury is embezzling and hiding all the money being gained from the stocks sell offs. Don’t tell me because it is an emergency that they shouldn’t be held accountable for their actions to the taxpayers they are stealing billions and billoins from.

Make the Auto Makers pay us back just like Lee Iacoco did when he borrowed money to save Crysler.

No way we should blindly give out 350 Billion. Yes I think the car companies got into this mess themselves and if they make the right compromises, we should loan them the money. I liked the comment about giving 2 million US citizens a free car.

These Auto Exec’s should all go to jail. Let’s start there and then go to
the banking industry and really make a change in this country. Remember, familiarity breeds contempt. Look at politics.

When a potential business owner wants a loan from a bank don’t they have to show a business plan?

is this for real i cant believe these companies we are being ripped off
They are scaring the government for more money like a spoiled kid
If you run your business into the ground you get bought out or go bankrupt that is america that is business

Of course the Big 3 cannot be allowed to go under. However, the one condition that should be stipulated is to have all three CEOs step down and have Warren Buffet, Steve Jobs, and Bill Gates take their places.

How is it that Congress could hand over $700 billion without any accountability? Paulson should be fired, he is living in a mental fog. Please, do not give them a dime more, and let the Obama team handle it. What amazes me is that the United State received its independance over 200 years ago, and practices like this have been going on for years…What’s it going to take for us to get it….
Laura Allis-Long

I am appalled that the govt officials have dispersed 350 Billion bailout dollars WITHOUT ANY SAFEGUARDS!!! How completely foolish.

And while we’re at it…how about just cutting a check to the American people for around $100,000 each? I guarantee the economy would improve then. Everyone would be able to pay their bills and go Christmas shopping…all in the same month.

I saw on the news this morning a car dealership selling cars Buy 1 get 1 free. WHAT! I want to buy a car and get one free. But seriously all these deals and price cuts might be making the consumers life at this moment a little more comfortable when it comes to purchasing items, but for the producer, there spending more money to make the items then the profit there taking in.

Hello Anderson,

Government has no idea what they are doing, but they sure are throwing away our money to these big companies. I am against this bailout of the big 3, they need to be allowed to fail. Then let someone come back with vehicles that can get 70-80 miles per gallon. They have the technology, but have no interest in using it and the government has no real interest either. All talk no action. Give the money to the taxpayers and let them bailout of their bad mortages.

Anderson,

Any efforts to support the auto industry must be carefully thought through — not just throwing money at them.

It appears that Ford alone has already seen the light and taken steps to move its manufacturing to align with the changing needs in this industry — if any company should get support, it should be offered to Ford.

If it appears that GM and Chrysler will not survive long-term, then we should not throw money at them. And from what I can see, GM and Chrysler look like temporary funds will be a waste, and that they are NOT ready nor able to survive longterm.

As my wife has opined, there is nobody out there who is going to bail us out, with our investments having lost 50% or more in value.

Do us all a favor and don’t raise income taxes and let Chrysler and GM go where they must.

Thank you.

What can we the people do to stop the spending of the remaining 750 billion of the first bailout? Why are we making The Big Three jump through fire rings when there was no such process for the receipients of the first half? I am very concerned that bailout fatigue will hamstring the auto industry if they are really needed to keep our economy afloat. What can WE do???

Last time we gave loan to Chrsyler they did pay it back.. however the company never learned a lesson. It must innovate to survive.. The money shoudl be given to the RND ,,, not to the CEOS

Why the hurry to disburse the full 700 billion before the new govt comes in? Anyway whatever has been spent already didn’t make any difference in the financial market.

How come we can give the banks and wall street all that money with out any hearings. The AIG takes their money and goes on a trip. Then Citi Group ask for money one day and gets it the next day no hearings. I truely believe the bankers and wall street use corporate jets. Did they get rid of their jets. There is adouble standard. Now no one knows where the 700 million is going. Double standard for sure. You just said the unemployment job lost is 1.5 million if they let the autos go under they will have 3.5 million more and the unemployment rate will be well over 10%. Then we will be in a depresion. all over $32 billon in loans not a hand out. The handout was to the banks and wall street.
How does travel from place to place they are a bunch of spoiled politicians who do not care about mainstreet

@Milan I totally hear you.

I drive a 2008 F150 I won’t even say what I have left to pay on it.

Ford gets a good chunk of cash from me every month, and looking around I know they are getting a lot from everyone.

No one is going to bail me out if I can’t make my payments.

It is hard to imagine that the US taxpayers are going to have to give these large vehicle companies billions of dollars and still honor their monthly payment, which is most likely … i n f l a t e d in the car companies favor.

the buck always seems to stop with the tax payer and that is how we got into this mess – and are going to stay in this mess. just the way it is.

the American Auto Companies have been selling lower quality vehicles for too many years and charging $100.00 per hour to fix the problems that should not have been there in the first place.
I have owned chevy,pontiac,ford,VW and Toyota over the years and the best of them all is Toyota.
Even if the bail out happens against our voting I would still never buy American or pay $100.00 per hour again.

Let’s take the $18 billion dollars in annual tax breaks away from the oil companies and loan it to the car companies! How appropriate and ironic.

I am curious as to why the news has failed to inform the public that the Big 3 already HAS the technology to build hydrogen fueled automobiles and have given their plans to the gov’t, yet the gov’t has turned them down due to “inefficient infrastructure’ in our nation. Isn’t that the gov’t’s fault? The auto industry can hardly rebuild our infrastructure-they did THEIR job, the gov’t has failed to do theirs and has been sitting on this for a long time! let’s get the story out-the gov’t has made the Big 3 the scapegoat.

the american dream own your own home. not a new car. what are the # ask for eary retirement. if some can. 5mil apice. thats all and pay back within 5 years……………………

There should be no blank check for the big three automobile industry. The big three should get help from tax payers, but we and share holders must demand a change in executive culture. The upper level executive don’t get it and never will “get it”, because these people exist in a mind set that they are not accountable to the American public and I truly believe that most executives of the most powerful corporations of the United States see themselves as superior to the general public, especially the people who work the hardest day in and day out in these very same corporations. The culture has to change, there needs to be a more realistic paradigm shift in capitolism, without this our money and other resources will be wasted.

Well since all these big companies are lining up and asking the government for a bail on the mess they created. Well since I have missed two mortgage payments on my hone and are waiting to hear from my lender I willbe on my way to capitol hill and I will ask congress for a bailout so I can stay in my home. How about it congress. With the billions of dollars you have already given out to these compnies that are run by greedy ceo, it would have been put to better use if the hardworking middle class homeowners who are facing foreclosure on their home had been bailed out. Shame Shame on you for waisitng taxpayers money on greedy greedy companies.

The bush family made their part of their fortune through finance. I would like to see some investigation into the bank bailout to see if it is another bush giveaway like the no bid haliburton deal. Paulsons white collar friends sure know how to play him. Do you guys have any insight into this? I would like to see a Christian Amanpore report on it. Thanks.

i am trying to figure out how americans can stomach a bail out of wall street with no safe gaurds but we talk about letting the big three fail. i am not the smartest nail in the box but wasn’t it the auto industry that started america on the way to be what it is today? if history is correct the auto industry was around before wall street so who should really get the help first

I am a retired auto worker from Navistar, we can not afford to lose our auto industry, the Japs invaded our country by sending there cars here below cost subsidized by there country so they could get market share, they no if the younger workers would buy there cars that loyalty to there brands would put them in a place to take over our industry, and we have lost millions of jobs as they took over the electronics industry the same way, millions of people have gone bankrupt lost there homes, families busted up just because our Gov. would rather the super rich to get richer by investing in the Jap companies,they don’t care about our country,if the bankscan get a bail out of 750 billion then the auto ind. should get whatever they want up to 750 billion,if not I hope there is a revolution

If other companies like Pilgrim’s Pride can file Chapter 11 (as they did this week) and continuie to operate normally why can’t the Big 3. It is insane to take taxes of people making minimum wage and give to these jokers so they can continue to pay workers that ask to be laid off so they can receive their full salary from the job bank.

It’s time the government sells Nancy Pelosi’s plane and reduce benefits of the bunch in Congress who have no problem spending hard earned taxpayer money any wasteful way they see fit.

Wake up America and hold these folks accountable.

Like it or not, we must do something to help the big 3 survive. We can’t afford not to. The trickle down effect would be devastating. Let’s find some retired(successful) business people to oversee where every dollar is being spent. Where is Lee Iacocca when we need his expertise?

Excellent poll for Hillary Clinton will be State of Secretary!!! good news!

It is so unfortunate that we even have to discuss this or that theses theoretically brilliant CEO’s are forcing us to perform there jobs. They have had more than twenty-five years of warnings about the better more fuel efficient automobiles that a dozen or more other countries are building.

They just did not care as long as they got there fortunes and they could blame the UAW. We have to do something for the workers the executives should all to a man be removed. I am sixty-three an enviable position I can see and understand both sides of the arguments. I am white collar, these executives should be sued by the shareholders and then turned over to the American courts As allowing this National Security situation to build to a bursting point over so many years 25-30 years.

I am a proud American and I am disgusted with the executives in Detroit’s Country Club.

I think Congress needs to block the rest of the Bailout package until safeguards are in place. Don’t let the Bush administration throw the money out the window. Force the others needing the bailout to do the same thing as the big 3.

They don’t deserve no more money because they didn’t spend the money they were given responsibly. I would think they learned their lesson the first time, but you can’t expect much from people who don’t have America’s interest at heart. The Treasury should be ashamed of not monitoring the money. To sum everything up, an old Proverb: Shame on you if you get me once, but shame on me if you get me twice. They all need to be fired for mismanaging the money given.

of course the car industry should be saved ala toyota/japan, korea/kia, the gov supports them and dictates what comes out..great cars,(efficient, zero emmisions), retool the plants to create mass trans–buses, subways, light rail, hybrids, green tech, etc !

How the money for the bailout was handed out…….no safe guards, no idea of how it was to be used, helping the automakers with the $700 billion , your kidding, right!! Deplorable, unethical crooks, and no one can do anything about it. As has been said before, “the land of opportunity.” Always at the expense of the little guy, as usual!!!!

I think Bill Clinton wants Hillary to be her own person as sect. of state. However, it will remain to be seen if he sticks to staying out of the mix, unless asked.

How much money did the USA Treasury give the banks?
All this nonsense doesnt make much sense to me.
Economics and banking is all Greek to me.
All these bailouts concern me because it seems so secretive.
Who benefitted? I just dont get it!
If God himself had a bank on earth, I would be suspicious!
Oh well, I guess what happens, happens!

Who is monitoring the Treasury? Why not hold the politicians that put the package together accountable? Accountability seems to be a term used loosely in Washington DC.
The spending should stop and be evaluated. There needs to be an accountable party that reports accurately all planned use of the money and then auditing of how it was used.
The American people deserve better representation now and in the future.

If the majority of public opinion aposes the bailout will the public not want to buy from the american car makers?

I can’t believe that we do not know where all of our taxpayer money is going! There is no oversight, no accountability, no assurances that we will be paid back. I’m no economist but if 700 Billion were given to the American public, the money would be spent on purchases and services that would then be given to small business, which would then create financial capital, thus more reason to hire people as well as the stock markets rising and would prevent even more home foreclosures. Banks would have more money because people put their money in banks. Everyone wins.

They agree to Following. NO LAYOFFS, NO Plant Closings, NO Bonuses.All Money Stays in the USA!!!! Then and only then Loan the Money. Ray

maybe all those billions should be given to the layed off workers of these companies these CEOs are blowing Smoke We as americans react before we think things out lets look at who really is making the money CEOs

he CEO’s driving into Washington by road is only mere cosmetics. It is not neccessary. It shows how fake the whole process is. However, I will support loaning the big 3 the money they requested with a serious oversight. the consequence of the alternative will favor no one.

We invite you to come to Flint, MI ,to view and study,The Sloan Auto Museum. You will see how valuable General Motors has been to the economy of America, especially during WWII. Joe Coyner The Factory Worker and Special Education Professor

Perhaps a bailout is necessary for only two of the automakers.
Ford first, as it has a long standing automotive history in the US, followed by GM. As for Chrysler, why should public monies be used to bail out a PRIVATE company. Let their chips fall where they may.

so either the hardworking americans that work for the big three lose their jobs and their money or all americans lose their money to tax raises. i still think the car companies can do more to stop their bankruptcy other than selling jets, cutting jobs, and asking for money.

I think it s joke that congress can give all this money (the peoples money) over to bail out the banks and mortgage company’s without tracking it but when the Big 3 America auto company’s need money which is really the middle class known really cares. I think it will be a sad day in America if they don’t give us a bail out it’s that old saying no buddy cares until it happens to them.and we will all care trust me

Betty, I live in the midwest, I like snow, but I’m not for letting the big three fall, a huge part of the midwest economy depends on the automakers.

Candace, what does the economy look like in Canada?

350 million spent, and where does it go next? They are talking about subsidizing mortgages on new loans to “save” the housing market. This will inflate home prices so we have to take jumbo loans to get them again. They are reinventing the problem. Let the free market work. The middle class is finally starting to get some traction and they are going to price us right out of the housing market again.

The first round of the bailout was mostly the Bush Administration shoveling money in their friends’ pockets, just like a departing colonial power raids the treasury before boarding their ships for the last time.

I am absoultely against giving the remaining amount of the 700 billion dollar bail out to the banking industry. The banks had their chance to help out people and they have not. To believe that now some how they will be more responsible is laughable. The banks are showing no regard for what people are going through and quite frankly I don’t think they care. To give any more money now would be irresponsible of Congress. What is really irritating to me is that I am receiving 1% on my savings account while still paying 10.99% and 24.99% on my credit cards. This is a very unfair monetary system we have. It is about time our Legislative government demand a fair monetary system for every person, i.e. poor, middle class. etc.

Amazing, I’m the CEO of my home and not asking for a bailout. My family does without. These companies can’t run their business, get a bailout with my tax dollars, and then raise the interests rates on credit cards to 31.99 because they think we might be a risk? Way to go Washington. It’s open season on the citizens pockets. Give our hard earned dollars to a failing company, have no idea what they did with the money, and the Gov will ask me for a another check on April 15. I guess that’s for the bailouts next year.

I think we need to bail out the automakers and then we need to get mortgage rates down to about 2-3 percent. All this mess was caused by housing crisis, We need to fix housing and everything elkse will work itself out !

Judy, I think in a perfect world we could make auto makers pay us back, however without a long term plan….who knows if the big 3 will survive long-term without a long term solution.

What percentage of GM’s Net profit is the care mfg?
It sounds like the unions have the same mentality as the execs. Bus as usual.
Will they ask for a raise if the bailout passes?

I think the Big 3 should merge together to form a ‘Super car maker’ and compete against the Toyotas and Hondas…Just imagine when all the engineering and technological expertise of the big 3 combined..we are sure to make the most advanced fuel efficient car right here in the US

Let’s be very cautious about even thinking of salvaging US auto industry with taxpayer dollars. If any of the big three deserve consideration, it’s Ford, who has made changes to be relevant.

But as my wife tells me, nobody will bail us out when we go destitute. We cannot afford to support the Big Three on our backs.

Anderson, as an AP Government student, I am constantly being questioned about the auto companies futures. However, I am still confused on the basics of what David Gergen, Candy Crowley, and Joe Johns had to say. I would like to be informed in a more “high-school student language” on their views

This whole idea of “buy one get one free” is sexist at best. Look, male leaders (whether corporate, government or whatever) have relied on their spouses for opinions and information as long as the earth has existed. “Behind every great man stands an even greater woman.” So why are we making such a BIG deal about Bill Clinton? He will have the same influence as any spouse would have.

While I support the auto industry bailout, I am so dismaid by the lack of oversight for the $700b. In my view those Paulson and all his deputies should resign! They don’t get it. While the rest of us are sacrificing, going with much less they are swimming in government funds as if it were theirs to spend on weekend in Las Vegas.

All this bailout business is not changing anything. What is needed is accountability, transparency, responsibility…etc all the bailout funds should be frozen until a system of regulation and vision is put in place.

We can’t continue to throw money at these systemic problems. Where are the grown-ups in charge. Are there any responsible grown-ups anywhere in government? This is a bad joke and real people are getting hurt by these “shooting from the hip” decisions. How about some real consideration of solving these systemic problems….before we are all bankrupt. I do know that all problems are best solved at the local level where all sides can be heard and felt for real….Real freedom is not doing whatever you want with no accountability. Real freedom involves great responsibility.

So if we ignore giving the Big 3 a loan, then, what will Congress do to address the poverty issues that will eventually hit and get to some all time lows?

I can’t believe there weren’t any safe guards for the original bailout!! The fact that Hank Paulson could just “trust” the same people on Wal Street that got us into this mess is ridicuolous. He should not get anymore of the remaining bailout money as he clearly has not made wise decisions thus far…I do not understad how the Secretary of the Treasury can have that much powere over our entire economy

The automakers are not the enemy. They are the heart and soul of american manufacturing. Our lawmakers have let us all down by allowing globalization to take our jobs and even helping it to happen. The lameduck congress is trying to make the automakers the scapegoat for their own shortcomings. This will really be a sad day for all americans if we turn our back on the automakers. Shame on us!! We will all live to regret this day.

Why don’t we send the Big 3 to their buddies at the Oil Companies for the loans? After all, they have been building cars and trucks that contributed to the Oil Companies $Billions in profits for decades

You got that right Mark. America’s infrastructure has been getting its legs cut out from under it for sometime now. Businesses countinue to cut out the American worker in favor of cheap overseas labor. Now they are caught with their pants down, and want us to help them out, us, the one who they took jobs away from…

Politicians should not attempt to create profitable business policy.I would suggest congress ask 2 or three business giants – Jack Welch,Warren Buffet,Gates to donate some time to help these hopeless car` executives create a new type of auto industry for the next century. not business as usual.
Give them the money, rebuild smaller companies, hzave them supply all the public transportation vehicles we need at cosst plus a small profit for the state and fed governmemnts . Have them retool for a financial third world war

I think they should leve the rest of the bailout money for the obama team to handle.

I seriously think Hank Paulson does not know what he’s doing. He is very naive for such a highly ranked person. No one should have given the banks the benefit of the doubt…that’s what got us into this mess in the first place.

any bailout should be tied to a Business Plan regardless of company, so where are the BPs for financial companies, because the taxpayers need to see the possibility of being paid back, that has a chance of improving/saving the companies. a BP is needed to get a business loan under the best of circumstances and at start-up. what’s the rationale for not requiring a BP is the only question in my mind.

So the automakers have been around for a while. so what if they go out of business? The cars are not quality anyway. Furthermore how many businesses in 2008 alone have gone out of business? do those small businesses not make the economic wheel spin? I do not care if the three auto execs walked to the hearing, no bailout.

Unless Paulson specifies the ROI for taxpayers financing the automotive “loan”, it is not a loan but, rather, a bailout without terms.

The big three auto companies are asking for bridge loan not a bailout. I agree with Obama, that there needs to be a some oversight accompanying this loan.
I agree with David, this is not the time to turn our backs on the Big Three. The economic ramifications could be devastating.

Nikki O’Sullivan

The lack of oversight in these bailouts is embarassing. Can the government be any more transparent in showing how corrupt it is?

I agree with Mr. Gergen. Yes, we needed the bailout. The bailout is not the problem. It’s the lack of due diligence scrutinizing the funds that were distributed. That’s the real problem.

Anderson yesterday during the book release interview, you referred to yourself as old. This past Sunday on 60 minutes (Yes, I watch 60 Minutes and Amazing Race every Sunday.) you referred to yourself as middle age. What are you 40 something? In that instant you reminded me of my good friend who is 41. I’m in my 30 thirties. She drives me and her 50 something husband crazy with the old age talk. Anderson you look great sweetie. You look great! Always remember, it’s about who you are as a person and the vitality of how you live your life. Not how old you are. I think Aaliyah said it best “Age aint nothing but a number.”

maybe the car industry and people in general need to be thinking about how much the mark up is on a vehicle and why they can’t afford to not get this loan…people in American can’t afford these cars and going into debt but have no choice but to buy a car to get back and forth. maybe everyone should by foreign since we can’t seem to get it right in the first place..American made cars don’t last..why is that
Why did we start going foreign in the first place because foreigns make a cheaper and long lasting car what is wrong with this country.

The lack of oversight regarding the first half of the 700 billion dollar bailout is appalling. Under no circumstances should the remainder of the money be allocated without definitive guidelines in place. This is shameful; I expect those in charge of these matters to do a better job. The bottom line is the small business owner on Main St. can’t come to the government and get bailed out of bad decision making and gross incompetence, why should big businesses. Monopolies are supposed to be illegal. When we continue to bail out companies in this fashion we are perpetuating a cycle that is fundamentally against the core economic values of our country.

I still don’t know why we bailed out AIG. We should have let the division that sold insurance on bad mortgages go under. My annnuity clearly states that payment is predicated on the insurance company staying in business. If AXA goes out of business my annuity is worthless. Well, the guys that bought mortage swaps from AIG also knew that they would be paid only if AIG stayed in buisness. So why is the government paying off on those bets. The casino ( AIG ) failed and should have been allowed to go under,

I think the automotive companiess should not get a bail out but a a large loan that can be paid back with a high interest rate. Definitely take care of the current employees so the current job loss doesn’t increase exponentially.

I think it s joke that congress can give all this money (the peoples money) over to bail out the banks and mortgage company’s without tracking it but when the Big 3 America auto company’s need money which is really the middle class known really cares. I think it will be a sad day in America if they don’t give us a bail out it’s that old saying no buddy cares until it happens to them.

This is insane. We’re sorry we can’t tell you what we did with 350 billion dollars, but geeze it was an emergency! If any one of us in a position of financial responsibility performed the way our goverment officials are we would be in jail. Quit acting like tax payers money is monopoly money. This is serious and not one penny should have gone to anyone without severe oversight and accountability. We’re tired of this. We’ve already lost billions in Iraq that have just disappeared. Not one is held accountable for this.

No one has addressed how the big three are going to get customers to buy there products, after years of neglecting what the market was begging for(small economical cars that are backed buy a decent warranty.

The only think I would be willing to bail out is the pensions of retired employees as the companies go bankrupt.

Thank you Anderson! I have been dying to kow if Hillary can still campaign for money to pay off her debt while in office. Good one!

Clearly Bill Clinton has valuable skills, Obama just needs to match the skills to the job, as well as match people up that he feels will work well together. To me that is the tricky part.

Politicians working together: novel concept, eh?

If the Big 3 are not granted this loan, it will have a devastating effect across the country. Once it hits Michigan it will spread quickly. Suppliers are everywhere – global for that matter. For those of you who don’t live in Michigan and you’re so dead set against this – be careful what you wish for because it will come back to haunt you and your family. You, too, could lose your job and your house.

We should bail out the auto industry. We should also fire treasury secrectary Paulson for not safeguarding the 700 billion dollars . With no accountability for that which has already been spent, he should not have the authority to shell out any more cash. The reason we don’t have any true American companies left in America is because we help everyone else except ourselves. AIG, Chase, BOA and the rest of the companies such as Goldman Sachs don’t deserve one more cent.!!! (by the way, Paulson earned 140 million while at Goldman Sachs, now he is rewarding himself and his friends). The balance of the bailout monies should be left for the new administration. The Bush Administration has bankrupted this nation, the very least they could do is leave President-Elect Obama the balance of the 700 billion dollars as some sort of working capital.

Obama is a good salesman by selling himself to the people but will he actually help the people or will he keep helping himself

If the Fed has given out 350 billion to the banks already, why is it that they in turn are not lending to the big three auto makers?

Where was the media attention to financial industry, banks & AIG employee pay and concessions.? The auto industry is being looked at with a whole different set of standards. Seems kind of anti blue collar. Paulson has given out hundreds of millions of taxpayer dollars with not much scrutiny of executive pay or bonuses – -I did not hear any $1,00 offers from their executives or any talk about worker concessions. Seems to me if the auto industry fails it will tip the economy over the brink.

The banks have no oversight and no clear plan and were given 350 Billion of our tax dollars, so far. They have paid their own CEO salaries, investors, and stockholders and have done nothing for us or our economy and no plan to pay the taxpayers back. The Big 3 are inviting oversight, have agreed to the CEO’s getting a $1.00 salary, no dividends, and a pay back plan for this taxpayer investment! I would much rather give my Tax dollars to bail out the Big 3 knowing I’m saving American Jobs rather than giving my Tax Dollars to a bank that won’t extend us credit or work with our neighbors to keep their homes.
Lisa, Port Huron Michigan

“Make the Auto Makers pay us back just like Lee Iacoco did when he borrowed money to save Crysler.”

The plan (now) is for loans. BUT, the economy was in a very different state at the time the Chrysler deal was done over 20 years ago.

It is appalling and disappointing the double standard that is on display during this financial crisis. The Treasury Department hands over $200 billion with virtually no conditions to bankers that wear designer label suits, but won’t give a fraction of that to companies that employ blue collar workers that wear Levi’s. I would like to challenge our elected officials in Washington to visit Michigan and see what it is like to live there under the current conditions: highest unemployment in the nation and the 4th highest rate of home foreclosures. That’s now – it will be complete devastation if the auto companies are allowed to go out of business.

If 1 or even all 3 automakers where to go bankrupt what kind of ripple could we expect to see through the economy?

Look people I feel for all of the people losing there jobs in the car industry however, even if they get the loan what makes everyone think the rest of us can afford to buy a new car.. most of us have just lost our jobs??? Everyone is talking about the whole industry will suffer, well giving the automotive industry help does not get me or anyone else a job so we can buy 2009 cars that are still gas guzzlers and over priced. Why don’t we figure out what to do with all of the 2007,08 that have not been sold??? is there anyone out there who has lost there job who want to by a new car???.

Michael

And another thing……… The same banks that cried BAILOUT were the same people that were ripping off the Americian public with shaddy loan deals to people that THEY KNEW could not pay the loan back.

We the people should DEMAND better Government! We need to hault all benifits and retirement to former officials. Then have the people that are in office now work for $1.00 a year until everything in this rotten crooked government is fixed

I’m glad Obama has a good team, but everyone thought Bush had a great team too. I hope for the best. We’ll see.

We need to bail out the auto companies (and Citibank as well) but, it should be done with very strict conditions including no layoffs, all perks for high-level execs (private jets, etc.) are removed, severe salary cuts for the upper echelons of the companies and in the case of Citibank, forget about paying for stadium naming rights.

As incentive to adhere to the spirit and the letter of the conditions, the penalty for non-compliance must include prison terms not less than 5 years for anyone responsible AND the top level executives of the company as well as reparations to the taxpayers equal to double the profits earned since receiving the money.

Arbie Brown
Bloomfield, NJ

I think congress should bail out the auto industry which will save many Americans their jobs and should deny the next bail out for the banks. What have the banks done with all of the bail out money received so far to create anything, except more chaos. I think that the treasury secretary, and congress have it backwards.

I want to know why the American auto industry and UAW has waited so long before deciding to make necessary changes. The American way is a free market, consumers vote with their money, and they are not voting for American auto. Furthermore I do not believe there will be as much job loss as the CEOs claim. Consumers still need cars it is just a question of which company will make them. Whether it is the government private investors, or other auto companies or pick up market share of a bankrupt auto, they still need people to run the plants.

why hasn’t someone ask gm to match the pay scale of toyato

The bailout has to stop! It was a terrible idea from the start, but it is absolutely criminal that there has been no supervision of the 350 billion dollars that have been given out so far. How does Paulson get away with this piracy ?

I am writing from Canada but let me tell you my opinion, 700 B$ is going to 10 corporations; a big chunk of it has already gone to the Banks and Insurance companies. These componies not only create a single job but taking the money out of everybodies pocket and they have full right to take over regular people life. On the other hand the normal people who are in trouble are already and easily forgotten. Just say 200 Million indivitual in USA who are taking care of their family and their own small businesses could get the equal amount of this bailout. Each person can get 3500$ instantly.
It means a family of 2 could get 7000$ cash or a family of 4 could receice 14,000$.
That is the way to boost the economy and give the big possitive shock to the wheel of industries, not just hand this money over some CEO ‘s who create this mess by foolish ideas to take the jobs out of American and Canadian workers hand and make jobs oversea in order to make more profit for their own pocket and still they are thinking to cut more jobs and make more people in trouble.

regarding the lack of accountability on bailout funds –

Isn’t it time for Americans to march in protest?

We are not willing to bailout the Auto makers but are we willing to support all these Americans that are going to be out of work, by way of welfare and food stamps etc, all through raising taxes? 16% of Michagan are on food stamps now, would it not be more prudent to give the auto makers the LOAN and keep as many Ameicans as we can off of the unemployment list.

Paulson is clueless, how do you think we got here in the first place?

if we can let the big three fail then let wall street fail .starting over from scratch. is that such a bad thing ? americans losing there jobs are doing just that right now with no bailout in sight for us!!!!!

Would it be cheaper to let the big three go under and let the autoworkers collect unemployment like the rest of us? I think 95% of what they make is to much if it were to happen. Let them get what the rest of us get.

When it comes to expertise in foreign matters, the Clintons seem very able.
Hillary Clinton seems quite capable of being the next Secretary of State.
I would expect that foreign leaders are quite comfortable with Hillary Clinton. Sometimes familiar things are best. I would imagine that world leaders like the Clintons.

Auto Companies: If any other CEO running a company ran it into the ground…they would lose their jobs. Obviously they are in it for the money. Someone should ask them…why are so many Asian cars sold.? Because there is less problems with them. Maybe this issue should have been addressed ten years ago.

It is inexcusable for Treasury to be doling out TARP funds without any accountability. Clearly, there isn’t any time to write regulations, but the objectives of TARP can be clearly spelled out: not to be used for bonuses, dividends, takeover funding, etc. What Treasury can do is put every recipient on notice that funds will be available (1) only upon receipt of an acceptable plan for their use, and (2) subject to a monthly review of each company’s financials to see if they are complying with the intent of TARP. Treasury should review these financials to confirm that the recipient’s accepted plan for use is being followed, and if the funds are not being promptly used for their intended purpose, Treasury should recall the funds.

There aren’t that many companies involved that Treasury can’t manage an intelligent distribution of these funds.

Didn’t the law that authorized the $700billion also require oversight and accountability? Congress should demand an accounting of the spend to date, and petition the courts if it’s not forthcoming. Absence of accountability is not acceptable, even in an emergency. Anyone who has ever balanced their checkbook can make a list of where they spent their money. With $700billion you’d think they can afford an accountant!

There’s always two sides of a story. We’ve heard what Congress has to say, now we need to hear what the Big 3 have to say at the hearings. I’m still amazed that so many people can jump to the conclusion not to give them a loan and yet we haven’t really heard what it is about the details of their plans that is making Congress decline their loan request. No one can has a crystal ball that can predict sales and profits, especially when we are in a recession. That’s like asking AC360 to accurately predict what their ratings will be every night!

HC’s campaign debt we’re still cleaning up after the wild democratic primary, all right. What is it that HC can’t do, she can’t appear at fundraising? that Joe John’s said.

Obama, I think is prepared to work with congress, and bipartisanly, to go the distance and that too will result in a longer Honeymoon

I agree with David Gergen about Bill Clinton, former President is sort of an ace in the hole, in a good way, a person who can handle special and delicate missions

That is so outrage!!! I haven’t seen like this…… they shackled 17 years old teenager girl and lock the door……… I am so mad 3 people who shackled her too long!!!! I hope they will be charged for mistreatment girl and go to jail for long time!

If Congress has handed out 350 Billion … What does it mean when the banks that recieved the money will not loan it to them either?

Anderson,
Hi! It will be fascinating to see how Obama’s team works together when they are given the opportunity–with whatever the most pressing issues are a month and a half from now.

I think all of these bailouts is what is ruining our economy. When you give away money (freshly printed money) you de-value it. I work hard for a small pay check and I would never consider just giving away my money. Money is only worth what it is believed to be worth, giving away money destroys that belief.

AC at least your show makes sure to call it a loan request once in awhile -

It is unimaginable the Treasury distributed 300 billion without knowing what has happened to it. Is Paulson drinking the Koolaide ? This current government reeks of incompetency on every issue. Shame on them!

Candy reported that Obama has dropped his talk about taxing folks who make over $250K. A big reason I voted for him was this issue. In addition, I would like to see him tax the oil company profits, or use it for “the public good” in developing alternative energy.

Ford CEO’s offer of a $1 yearly salary came a day late and millions of dollars short. US Auto makers should take a few tips from the Japanese auto makes who see their workers as an asset rather than a liability…

I have a question for Mr. Gergen, Mr. Johns or anyone out there: Cities, states and major corporations are all in need. When do we stop entertaining bail out proposals? Secondly, how long will the funds last if we continue to give assistance without some type of expected repayment?

Don’t use tax payer dollars to bailout anyone, use it to create new jobs, If we are not working we can’t buy anything.

Michael

The Big 3 keep saying, “bankruptcy is not an option”, but I haven’t heard anything about “why?”. What’s up? Is there a good reason why they can’t file Chapter 11?

I am in favor of loaning money to the Big Three Automakers. The government should lend them the funds at the current interest rates that the Bank would charge them. If they are worrying about getting their money back, have a clause in the contract that if any of the three think about filing bankruptcy the government will automatically get there plants as collateral. So, they can find another company to take over under the same contract to keep the industry going. Also, if the government officials are so concern about the money our government lens out, stop giving government grants and loans to these foreign automakers every year. If they want to give grants out, please give some to the big three if that is the case. Or if the government is worry about the deficit why not start charges the foreign companies on these grant/loans and make some money for a change. “Buy American” everyone who is listening like we use too, when we had this problem back in the days, everyone bought American. Buy American!!! Gary

Banks are institutions in America and so are The Big Three. Whats good for the goose is good for the gander. Loan them the money!

no, loan , if i can;t pay for my house the governments not going to give me a loan to keep it . if i can;t pay for my car the governments not going to give me a loan to keep it. they need to figure out how to keep there buissness afloat on there own. they got there selves into this mess you can;t tell me that they didn;t know the day was coming ,you know what you can and can;t afford ,they need to cut back on there big ceo paychecks ,and high standards of living .the people in the factories work hard to make the ceo;s rich and its the people who are working hard in the factories who are going to suffer , from there lack of responsibiliity.

The situation this country is in, is just another Enron on a National scale. The government has been robbing Americans blind for years and anyone associated with this bailout plan needs to be put in prison. (150 billion in pork) Our congress is a joke and our government and these high paid executive are stealing from the American people and no one is doing anything about it! Why are these people not being prosecuted for these crimes? Unbelievable!! They’re nothing but a bunch of thieves that belong in prison!!!

Has Hillary Clinton ever been to Mumbai?
Is Condi Rice there?
I always thought Mumbai was more secure than it evidently was.
One would think in this day that India would have been better prepared.

Ask Ali this question: What career field is currently not loosing jobs? Because i have been looking for a job for over two months.

Someone is lying when they say they do not know where the money from the first bailout went. ..
And how much Money did this Admistration miss place in Iraq???

I thought I heard that the Big 3 will be on The Situation Room tomorrow so even though they declined to be on Larry King tonight, it’s not like they are dodging CNN.

The big three need to be saved, but how about letting the oil companys save them; after all they have all been in bed together for decades.

Why was it ok to bailout the banks and wallstreet but not the automakers? Its because Mr Paulsen was a member of the financial industry before he joined treasury. The workers in America does not mean anything to Mr Paulsen, he doesn’t have to worry about money like the workers at GM, Ford and Chrysler do!

The problem with Terrorism is that when 400,000 Iraqis die from Ameican Bombs, it is not even discussed.

Wow even the President Elect has to call back two or three times to get through to congress…a member of congress anyway

no way! I thought only I could do something that stupid!
hanging up on the ACTUAL President elect- that’s a new low for me 2 beat

The White House at Christmas time looks so pretty!
I wish they would have a TV show on the White House and show all the Christmas stuff!

Pirates attacking luxury cruise lines, girl scout leaders holding people hostage; I am afraid nothing would surprise me anymore.

Can’t these ships fire back on pirates?

I hope our Americans will safe in the cruise and keep away from pirates……….. I hope military will rescued our American people get out of cruise for safety!

this pirate stuff is getting out of hand. there goes sales for cruise ships.

I can’t imagine being on a cruise ship that gets attacked by pirates. They must be feeling the recession too if they are stooping so low. What are they going to do, steal your Platinum Plus Cruise card? That’s where everything gets charged…..

ok, this is scary.. our whole family is going on a cruise between Christmas and New Year’s… Glad we are only going to Mexico…. I do not want to see Pirates on my vacation unless they are in one of the nightly shows..

In fact, terrorism comes in several ways ….
The economic situation in this country is also a result of ‘economic terrorism’ committed by wall-street execs …. and the Bush administration turned a blind eye ….

Kathy: I don’t think tankers or cruise ships have weapons.

Hello everyone — Thank you for your robust conversation tonight — a really good debate. And your comments also make clear that the government has to (1) set much higher conditions before it agrees to more bailouts, starting with the Big 3; (2) do a heck of a lot better job making sure the money is properly spent and (3) do a much better job explaining to all of us as citizens why the money is needed and where it is going to come from.

Personally, I think that when the crisis broke out on Wall Street, we had an emergency on our hands and had to act immediately, even if we wasted (perhaps foolishly) some of the money. Otherwise, we could have gone over a cliff.

Now that things have calmed down, Washington has to do a lot better job — starting with the auto makers. But one more thing: let’s not let our anger with the way the auto companies have been run blind us to the very real needs of the good men and women who are on the assembly lines.

why are all people always wondering that pakistan is involved with any terrorist attacks? it is known that even the education and training for nomal secret service people, bodyguards etc partly happens in camps in pakistan, because there they get the real tough education…

No one has explained how after a bailout the Big 3 will suddenly start selling more cars, or cut their costs to be profitable. Bankruptcy will break the indecent union contracts and force management salary concessions too.

Wow – this is not your mother’s girl scout leader anymore is it?

OK, this hostage deal is just absolutely bizarre. What’s the motivation?

Kathy,

A lot of time the security on board cruise ships are armed. Or if they are they don’t have weapons powerful enough to fire on the pirate ships.

Kathy in Chicago – I read in the Trib today that ships are encouraged not to have weapons on board. It doesn’t make much sense to me that the ships that pass through this known “Pirate area” would not be allowed to defend themselves. Anyone know the answer reasoning behind this?

Was there a missing persons report filed on this boy?

Mary,
I agree with you… I have plan vacation for Mexico cruise Me either…… I don’t want see pirates in cruise at all…….

Children fall between the cracks in this society.

Crazy people in the world! It will be interesting to see what develops with that 17 year old tortured boy case.

How could anyone do that to a KID???

Yes, David G, we need to be practical but I think folks are wondering whether bankruptcy is a better option. Or is there a third option between bailout and bankrupt? Would companies actually really fail, that is not go bankrupt but just fail??? I would imagine there woudl always be someone to take them. maybe a big 3 merger?

*my previous comment is supposed to say that security on board cruise ships aren’t armed…my apologies!

That is soo sad, the story of that boy held captive. :0

How can we expect to make the world a better place if we don’t take care of our own family?
Or keep an eye out for our neighbours?

The depths of pain that we inflict on each other never ceases to amaze me every day.

And those are just the stories we hear about on the news – how many are suffering that don’t get coverage?

So sad.
Hard to be hopeful when there is so much pain in the world.

Anderson, I have been in the auto industry for over 7 years and it is time to get out. The BIG 3 want the taxpayers to give them 34 Billion dollars to save there companies. The biggest problem with this bailout people still cannot afford to buy new vehicles period.

I think it’s beyond appalling that the government has absolutely no idea where the bailout money has gone. This is sheer insanity! I believe that we were tricked into this whole sham by the greedy financial institutions and Paulson is just not up to the task of holding these thieves accountable for every single penny.

Let’s get behind the loan for the big 3 auto companies. At least they make something, unlike the banks who just take money and give huge bonuses to their top executives. Whatever conditions need to be part of such a loan, so be it. But we should save the auto industry and all of the workers who do their jobs every day.

The chef has an eagle and flags on his outfit?? LOL

that was a funny picture of Obama he looked like a little boy loving his cake!

Every ship should have a arm security teams. Armed with the same type of weapons if possible, that the pirates have or somthing more advanced. The ships should also have radar that can detected small vessels and advoid them if possible and also have look outs like we had in war time, because it is a war against them. Use the advance weapon to take out their vessels before they can reach them. If they play as a government officials in that area. The ships should have up to date information on the area and who is going to be in the area before taking action. If it is a country near buy they need to contact the government that may be involved to see if they have anyone in the area. Take them out if it means danger to you and your crew.

Thanks David….once the president elect comes into office what are chances wall street will be held accountable and asked for their plan for recovery and executive pay?

its a squid?

I can’t wait see chef cook for me……. it is so cool chef will be in White House for Obama!

looks like a bug.

David, I have great empathy for the auto workers. However, if we keep bailing out banks and other industries the CEO’s will continue to take foolish risks and try to use the workers as excuses for asking for future bailouts.

Interesting piece about the White House Chef. Didn’t know that the staf was being run by a female. Thanks for teaching me something tonight I didn’t know. It will be interesting to know if Michelle Obama decides to keep the current staff or go for “change” and get new.

Having weapons on ships would present a “Lusitania” scenario. If a ship is known to have weapons then they become a target for weapons and then it’s the ship’s “fault,” if they get fired on or attacked.

Wednesday shot of the day…What a creature and glad I saw it and even more glad to never see it again. Good Wednesday evening. night all.

Anderson takes the subway? Hmmm. Thanks for another interesting broadcast 360 and Bloggers!

Mr Gergen, are you talking about the the people on the assembly line in Mexico were most of the car are being built??? Why don’t we bring back those jobs so OUR people have jobs.

CEO’s in a hybrid! What about a single mom, taking the bus w/ 3 children in tow……….TOTAL misuse of funds and why doesn’t that surprise anyone after the govt, bought $750 claw hammers

that’s something I never thought much about but I bet they will eat a lot of healthy organic veggies and a lot healthier that the Clinton’s did. I know Bill Clinton loved to eat pie and remeber thoose SNL clips of him jogging into a Burger King then going house on the burgers!

Good night Anderson, Erica and best bloggers….
Have a great night!!! Sleep tight!!!
See you tomorrow night!!!
Day of the shot with Squid creature!!!! creepy cute!!!! too big for me!!!LOL!!!!!!

Great show Anderson and Erica and all! Good evening all!

Casey — Never thought of it that way. Thanks.

Anderson, Eric and all — will miss you tomorrow night. See you on Friday?

How far did the Big Three CEO drive their hybrids? Did they fly their corporate jets to suburban Virginia or Maryland and then drive from nearby dealership to Congress? When will these people get real? Ditching their corporate jets, you really think so?

@Jolene, I’m sure the pirates are feeling way worse than the recession, not exactly the jolly roger, or maybe in some ways it is, variety of piracy?

Good night everyone.