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December 11th, 2008
10:45 PM ET

Live Blog from the Anchor Desk 12/11/08

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Filed under: Live Blog
soundoff (329 Responses)
  1. Ashley, MI

    I now see that once more pitiful and childish things come up from men and woman we trust to lead our nation in these dark times. I can see where some people would not want this bail out for the car makers but its just not one person who is going to feel this wave. Everyone from the rich and all the more poor of this nation is going to caught up in this domino enough by this bail out for not happening. I hate to see what the morning will bring for our nation, we are in a economic war with our selves..

    December 11, 2008 at 11:25 pm |
  2. Richard Bruce

    Erica, I have tremendous respect for David, but on this I think he's wrong. I consider it an unexpected pleasant surprise that the bill was killed, and good work by those Republicans who killed it, and I'm a Democrat!

    December 11, 2008 at 11:25 pm |
  3. Justin Samp

    if the government owns a bank that it bailed out ,wouldnt the government make alot more money if the auto makers go bankrupt. after all what good would it be for the united states to own shares of a automaker isnt that comunism ?

    December 11, 2008 at 11:25 pm |
  4. Jolene, St. Joseph, MI

    Exactly Anderson! Why is it taking so long for Obama's organization to announce who was or wasn't talking with Blagojevich? It's not making Obama look so good, IMO.

    December 11, 2008 at 11:24 pm |
  5. Mark

    Our leaders with thier trade agreements and big oil with their industry changing oil prices this spring all get off scott-free. These are the people who should be sacrificing right now, too. I'll bet they all have large salaries, health care, and plenty of other benefits! We get ripped off, again.

    December 11, 2008 at 11:24 pm |
  6. Rikki, Fargo, ND

    I'm with you Bryan! I drive a domestic car...have always driven a domestic car and will always drive a domestic car!

    December 11, 2008 at 11:24 pm |
  7. cory mahaney

    Hi Anderson,
    I think it is the goverment's job to look out for the nation's well being, and by not passing the auto bailout will prove to be a massive hit on the current job market. I think this is a bad mistake!

    December 11, 2008 at 11:24 pm |
  8. ce ce

    I am here living this...my husband works for one of the big three...I just don't understand how politics can prevail...it is not really even about the autos as much as the fact that the republicans are protecting their own before the new administration takes over...it is really just sour grapes...if these corporations are allowed to fail it will be devasting to our WHOLE COUNTRY...

    December 11, 2008 at 11:24 pm |
  9. Doug

    David Gergen, I am disappointed in our government also.
    Doug

    December 11, 2008 at 11:24 pm |
  10. Stacy

    I think the scrutiny on Obama is a little on the overly intense side. There still appears to be no evidence of any wrongdoing.

    December 11, 2008 at 11:23 pm |
  11. Dale in Chicago

    My father raised our family on the salary and benefits from a UAW job from Ford. We are all thankful for what the UAW has provided for our family and it's on par with what I see well paid college graduates making today. (60K – 80K per year)

    It makes me sick to hear people complain that UAW workers, many of whom did not go to college, make too much money. It's jealousy of people who work hard and who have kept up their end of the bargin.

    If the big three want to borrow 34 million of tax dollars, let them. We're loaning it to banks to keep people in their homes. Let's keep them in their jobs too.

    December 11, 2008 at 11:23 pm |
  12. Belinda

    I'm glad you guys are finally talking about the possibility that Obama made not be able to say anything for fear it could damage the case.

    December 11, 2008 at 11:23 pm |
  13. Marc

    I believe that instead of a carte blanche "loan" to the Big 3, help stimulate sales by encouraging Americans to buy an American car, built by Americans, in America. – This can be achieved by giving a rebate of "x" dollars, to the purchaser. This in return will motive the car manufactures to firstly build decent cars, enable them to sell them at a profit and should stimulate spending – a win win for all.

    December 11, 2008 at 11:23 pm |
  14. Paula, Colorado

    Anderson,
    Hi! Planet In Peril was great–Your work was excellent.
    There seems to be little progress made with the bailout issue as of tonight–I'm disappointed at the lack of resolve.

    December 11, 2008 at 11:23 pm |
  15. Ken H

    I can see why there is such a hard time to vote for a bailout. First the auto workers make four times as much as any standard laborer.
    two. so many feel like they are just throwing more money at people that don't have the drive to do what is right. you know they make millions and don't care what the public wants. they could have taken the idustry by storm years ago but decided to keep producing a product from a bigone era. Now what is happening is going to affect every single person in our country.
    At what point do we stop giving bailouts anyway. To corporations that the executives make millions per year. Or should we bailout mom and dads grocery down the street.

    December 11, 2008 at 11:23 pm |
  16. JC in Greensboro nc

    what about the family? does anybody in wash. care ? This govenment is sorry!!!

    December 11, 2008 at 11:23 pm |
  17. Jake, Kelowna ,BC, Canada

    Even if they got the bailout, do you really think that the Big 3 would actually take those many strings that are attached to this bailout seriously?

    December 11, 2008 at 11:23 pm |
  18. CaseyJ - Palm Springs, CA

    Our local economy is really going to take a hit with the loss of even more auto taxes. Thankfully, we only have premium brands paying into the pot–they'll withstand the storm better and recover faster. I have a good firend who own a dealership and I really feel for him. He really gives a LOT of support to the community.

    December 11, 2008 at 11:23 pm |
  19. Don, WA

    Speak up Obama – "I" know "we" are listening.

    December 11, 2008 at 11:23 pm |
  20. james lee

    with bank of america announcing 35-thousand layoffs today....what realistically are the chances we'll see any tarp funds pushed over to big 3......?????

    December 11, 2008 at 11:23 pm |
  21. Roger

    As a Democrat I thank the Republican Senators for havingm the good sense to save a $7.75 an hour worker from having to bailout the auto worker who ears ten times as much per hour.

    December 11, 2008 at 11:23 pm |
  22. Jo Ann, North Royalton, Ohio

    Mike, Under most other circumstances I would agree with you, but the poor state of the economy makes Chapter 11 a very dangerous choice.

    December 11, 2008 at 11:23 pm |
  23. Belinda

    Anderson, great documentary tonight. As for the bailout, I am disappointed. This bailout so many more everyday Americans then I think the Republican party realise. If this is a strategy for 2012, its a very poor one. The marketplace will be a very interesting thing to watch tomorrow.

    December 11, 2008 at 11:22 pm |
  24. Paul Gleaves

    Amazing, we'll spend billions to bail out the banks who offered risky loans to folks and helped cause the economic decline in the first place. Now we can't see our way fit to give the auto industry a small sum, compared to that, and ask the auto workrers to take a cut in pay and benifits to boot. Obviously the upper mangagement of the auto industry made poor decisions, but they did not start this.

    December 11, 2008 at 11:22 pm |
  25. B.Thompson

    Why is it the same people that support this bailout are the same people who say " smaller government, accountability " ? I mean why is it that gov't can bailout failure with our money but can't bail me out if my car gets repo'd or my home foreclosed?

    December 11, 2008 at 11:22 pm |
  26. Richard Laubach

    Anderson I think the Anerican people are fed up with the auto makers unability to bring our country true fuel efficent vehicles. Just look at the air power cars already available outside the U.S.. So why not have the government use the money as a grant which any auto manfacture could apply and compet for. the company with the best vehicle based on the terms of the grant would win the money to use to build the cars we realy want, need, and deserve. 800 mile per fill up air powered cars that cost little to build and can meet all of the current U.S. auto safety standards and go up to 90 miles per hour, why are we looking to detroit when we need to start supporting companies that will answer the call of the future.

    Richard

    December 11, 2008 at 11:21 pm |
  27. rick

    The senates vote to not help the auto industry is totally alarming and disgraceful! Their inability to help the auto industry will most likely put more hard working Americans out of work. What happened to our sense of right and wrong? I hope our leadership will not vote themselves any raises during the next 4 years!

    December 11, 2008 at 11:21 pm |
  28. David

    THANK YOU SENATE GOP FOR BLOCKING THIS BIG WASTE OF TAXPAYERS' MONEY. They deserve to fail for their decades of mismanagement. If they want to reorganize, they should file chapter 11 bankruptcy.

    December 11, 2008 at 11:21 pm |
  29. Joe Kelleher

    I'm so disappointed in our country right now- Give the auto companies the LOAN. I'm so depressed that my Republican party in the Senate are blowing it! I refuse to make a big investment in a car and know that the money will be going, in the end to a different country. (Japan,Germany,etc). So lame – maybe I'll move to Australia since basically were going to be working for other countries now.

    December 11, 2008 at 11:21 pm |
  30. Richard Wells

    Good Evening Anderson and others.

    And Mike From Syracuse, with all due respect, saying that the Big 3 will either "reorganize under Chapter 11 or fail" is a of an oversimplification of the issue at hand.

    Often people like to compare these three to the airlines, United in particular. However, at this time, companies that are financially sound are finding it difficut to to obtain financing, how do you think the Big 3 are going to get financing? Also, people will take their chances and buy an airline ticket for a few hundred dollars knowing that they are going to use it in the near future. Who is going to spend thousands of dollars (15-20 thousand on average) on a car with a multi year warranty if the car company is bankrupt, and may not be around a few years from now?

    December 11, 2008 at 11:21 pm |
  31. Vernon

    Why is all of the talk abou the big three. Are they really the only car componanys affected?

    December 11, 2008 at 11:21 pm |
  32. Pattie

    Where are we headed?? Even our professional football teams are endorsing "foreign" car makers as "official car of the___ team, and now our own government refuses to help it's own people once again. Maybe if we asked for more money to bail out Japan, China, etc it would get passed. Why isn't the govenment supporting the people that put them in office (the working people of THIS country) instead of always helping out other countries. Why can't people understand that we are supporting other countries, and our own is becoming a third world country????? I think the government is too far removed from everyday people and problems – how about a reality check ?

    December 11, 2008 at 11:21 pm |
  33. Chris A

    who runs the senate? Who runs the senate. Harry Reid and the democrats. Republicans have no majority. More Democrats voted against this bill. Democrats have control of the senate.

    December 11, 2008 at 11:21 pm |
  34. Mary

    Is it really all to fall on our elected officials? Regardless of their party, the politicians cannot take all of the blame. Bad business practices seem to be the main culprit here.

    December 11, 2008 at 11:20 pm |
  35. Chris H

    This bailout not only shows the failure of communication between the White House and the Senate/House, it also shows the incapability of GM. Lets be honest they are running a bad business model they have their own house brands competing with each other and more dealerships selling far lower numbers of cars per dealership then Toyota or Honda. Before this bailout is asked for, GM should look first at how they run their company and model a more cost-effective business model.

    Chris Beverly MA

    December 11, 2008 at 11:20 pm |
  36. byron from the ozarks

    they say that only GM will fail, by january 20th. give them to the wolves and see what shakes out. it might motivate people into doing what they need to do. after all, the hydrino furnace was announced today, as well.

    December 11, 2008 at 11:20 pm |
  37. Landi New York NY

    whats more important i think these Auto companies should change their structure of work!!I think let them go bankrupt. I like the ideas of Mr. Roomney. Why should the government through some money away!On the other hand England has done this in the past... nothing happened... Anderson you are the best journalist and the BEST EVER ANALYST DAVID BERGER

    December 11, 2008 at 11:20 pm |
  38. Bryan NY

    I figured the south east republicans would reject this bailout (Honda toyota and other foreign makers are based in their states so it is in their best interest to kill this deal). That being said–I shorted the market earlierr in the day.

    P.S. I will never buy a foreign car again and will tell my friends and family to do the same.

    December 11, 2008 at 11:20 pm |
  39. Jay

    This is typical stupidity from the senate yet again. why did we vote for these idiots,. They wait till things get bad before they act like they care and know what the hell is going on

    December 11, 2008 at 11:20 pm |
  40. Dave - Canada

    What fools to deny the bailout at this time. With the many spinoffs the damage to the economy will be immense. They had no trouble or very little public debate or conditions when bailing out AIG for over 10 X the cost and who knows what happened to the money. At least with the autos there is more opportunity for transperancy.

    December 11, 2008 at 11:20 pm |
  41. Jeff

    Its amazing that from the group of "legislators", that want smaller government and that preace keeping government out of the individuals lives, they want to dictate how much some U.S. workers are allowed to earn. How we take a poll on how much we think they are worth these days?

    December 11, 2008 at 11:20 pm |
  42. Jenna Engels

    The White House caused this to fail in the Senate. By telling senate republicans, "don't worry, we'll take care of Detroit with TARP money." So senate republicans took the political "out" Bush gave them. Why didn't Paulson just help in the first place instead of dumping it on Congress. A US manufacturing base is critical to our national security and Bush is playing politics. So typical.

    December 11, 2008 at 11:20 pm |
  43. Alex

    I work as a market analyst for a consulting firm, 22 years old, lucky to have a job. I began investing in the market recently, but no longer, the damage on market psychology has been done. There is too much uncertainty for anybody with half a brain to buy equities right now. I will cross my fingers and hope that the Republican party does not insist on burning down the house on its way out.

    December 11, 2008 at 11:20 pm |
  44. Don Livingston

    The bailouts got to stop. The UAW union has created this problem. If they don't want to helpout during this crisis, let them go bankrupt and reorganize. Give the union workers a reduced wage and benefits a living wage but not the inflated one they have presently.
    People have flown on Airlines which were in BK they were taking their lives in their hands. With that in mind people will buy cars knowing the company will be staying open during and after reorganization.
    Respectfully

    December 11, 2008 at 11:20 pm |
  45. Jason

    The UAW is just as much to blame for the crisis in the auto industry as the big three themselves. While the rest of America has been subjected to salary cuts (assuming they haven't already lost their job) the UAW has continued to want more more more. Nobody wants to see the auto industry fail, but both sides need to make cuts right now, not just the coprporations.

    December 11, 2008 at 11:20 pm |
  46. Nika

    These three automakers don't even make decent cars so why are we expecting taxpayers to pay for this. I think the failure of the bailout shows that our elected officials are using their heads.

    December 11, 2008 at 11:20 pm |
  47. ozzy miami fl.

    to long was it a free for all for the automakers enjoying their millions in porfits when other countries are way ahead of the big three in technology. natural gas powered cars all over south america and europe and super fuel efficient car in asia while we invested all that money in big suvs. what ever happened to the electric car of the 90's?

    December 11, 2008 at 11:20 pm |
  48. Carla

    The bailout failing is both fortunate and unfortunate. I really feel for the families that will be affected, but ch.11 for the big 3 is really what we need in the long term. Hopefully declaring bankruptcy wil force the auto business and all affected industry to be restructured in a sustainable, consumer-responsive way.

    December 11, 2008 at 11:20 pm |
  49. Richard Bruce

    Bush should listen to his fellow Republicans who say no deal, no bail out of failed companies with taxpayer money. Please, use some common sense and let the evil, stupid, failed companies dissolve, finally! The bailout won't stop the collapse of the economy if it is coming. The culture needs to change or we all in trouble. Let this be a good change. We'll make new smarter companies and get those workers to work for them!

    December 11, 2008 at 11:20 pm |
  50. Michelle

    Anderson could you ask the panel about what this does for
    manufacturing in this country ? Do Americans make anything
    other than cars right now ? I have read that even the Japanese
    auto makers do not what the big 3 to go out of business because
    all of the carmakers use the same suppliers.

    December 11, 2008 at 11:20 pm |
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