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Obama Pushes for $50 Billion for Automakers, Oversight Czar
bloomberg.com - 11/13/2008
Obama Pushes for $50 Billion for Automakers, Oversight Czar
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Nov. 13 (Bloomberg) -- President-elect Barack Obama is pushing Congress this year to approve as much as $50 billion to save cash-starved U.S. automakers and appoint a czar or board to oversee the companies, a move that would require President George W. Bush 's support, people familiar with the ...
guardian.co.uk - 11/9/2008
Barack Obama backs crackdown on tax havens
— guardian.co.uk — President-elect Barack Obama plans to crack down on international tax havens, including Jersey, Guernsey and the Isle... of Man, within weeks of taking power in January, putting him on a collision course with Gordon Brown. There is growing international ... (more) Barack Obama backs crackdown on tax havens

1 Comment vote down naked capitalism found this 11/9/2008found this
cato.org - 11/14/2008
Say No to the Auto Bailout
— cato.org — This article appeared on CNN.com on November 13, 2008. General Motors, Ford, Chrysler and the United Auto... Workers union are pouring millions of dollars into a lobbying campaign for a taxpayer bailout. The money devoted to influence peddling in ... (more) Say No to the Auto Bailout

Comments vote down Club for Growth found this 11/14/2008found this
President-Elect Barack Obama
blanksslate.blogspot.com - 11/7/2008
President-Elect Barack Obama
— blanksslate.blogspot.com — I have no illusions about an Obama presidency. I dislike the bulk of his policies. I cringe... at the thought of a united Democrat-controlled government. I think the already impossible expectations of any president have been amplified for him and he ... (more) President-Elect Barack Obama

Comments vote down Eidelblog found this 11/7/2008found this

Blog Reactions

BloggingStocks:  GM or Ford bankruptcy 'is economically and psychologically unacceptable'

Minyanville:  Obama Floats $50 Billion Automaker Bailout

Finance Trends Matter:  Features of the week

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Blog Reactions

GM or Ford bankruptcy 'is economically and psychologically unacceptable'
BloggingStocks — Filed under: Industry, Ford Motor (F), General Motors (GM), PoliticsDetroit's Big Three automakers are finding out assistance is a two-sided process. President-elect Barack Obama is backing a plan in which U.S. automakers would receive $50 billion in federal aid in exchange for structural changes and oversight by an auto czar or board. An auto czar or board would be patterned after the bailout of Chrysler in 1979 or the City of New York in 1975. During those two assistance / loan guarantee efforts, the U.S. Government ended up making money on the deals. The revamped Chrysler returned to profitability and ...

Obama Floats $50 Billion Automaker Bailout
Minyanville — So much for one president at a time. Bloomberg reports President-Elect Obama is urging lawmakers to rush through a $50 billion bailout for the struggling U.S. automakers. With no formal executive power until January, Obama is asking Democratic friends in the House and Senate to get their Republican counterparts behind a rescue plan. Any plan would also require the support of President Bush, according to Bloomberg. Also at issue is whether the money would come from TARP -- essentially depleting the first $350 billion installment of bailout funds -- or from fresh legislation. General Motors' ( GM ) situation is particularly dire, as many analysts ...

Features of the week
Finance Trends Matter — Welcome to this week's edition of our "Features" linkfest. There are plenty of great articles, investor interviews, and video clips ahead, so relax and stay awhile. 1. Everything you ever wanted to know about TARP, but were afraid to ask: US backs away from plan to buy bad assets; TARP and Fed Facilities unravel; Treasury draws fire for shift in rescue; The bailout formerly known as TARP; $700 billion bailout becomes power grab; Hammerin' on Hank; Jim Bianco sees confidence problem from rescue changes. 2. Eurozone tumbles into first-ever ...

GM--Pro and Con
Angry Bear — By Stormy (Bow to Movie Guy) Apparently, GM may have to file Chapter 7 bankruptcy, meaning that it will be forced into liquidation, not reorganization. GM is asking for a government for loan of $25 billion to see them through "its worst sales slump in more than 25 years." According to Bloomberg, if GM fails, Ford and Chrysler will quickly be next. Again, according to Bloomberg, total loans are in the neighborhood of $50 billion. To understand the gravity of the problem, we should ask a number of questions. What are the consequences of GM--or the Big Three-- being forced into liquidation? The collapse of the big three ...

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