Chrysler: Government Motors, the Prequel: Glenn Beck- Sweet Deal…

Glenn Beck explains what you’re getting from Chrysler rescue plan

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May 7, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , , . Big 3, Economy, FDIC, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized. Comments off.

Market Update: BIG 3 Reprise on the Hill….LIVE testimony..

UPDATE 3: 3:36pm EST: 24 mins to the closing bell and the markets are down sharply. DOW down 302 to 8289; NAS down 65 to 1427 and S&P down 36 to 824. The autos are off a cliff since the negative tone of the Banking Cmte and tomorrow’s November jobs report is expected to be an utterly unmitigated disaster (that is my expectation anyway HA!). GM is down 17% now and bringing the DOW down with it… perhaps the Congress will get the message from the markets..10 yr at 2.54 50 YR LOWS….safety play still intact…

Killing the patient to save them? Robert Bennett R-UT actually suggested a FORCED merger b/w GM and Chrysler, and interestingly EVERY GOP Senator on that CMTE had the INSIDE info on the PRIVATE CONFIDENTIAL negotiations that were held last month b/w GM and Chrysler which GM pulled out of..I thought these guys didn’t like ‘socialist’ govt interventions? Now they want to write the terms of a shotgun wedding? Then Bob Corker R-TN just finished up by suggesting wage caps be a part of the deal..uhm hellooo free markets remember GOP, I thought they ABHORRED Nixonian experimentation with price controls?? I guess it is okay when they are putting the brakes on labor, pardon the pun…

Tomorrow, Part Deux when this panel appears before the House Cmte, and the BIG JOBS NUMBER tomorrow morning (cue sounds of Dragnet theme here)…

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December 4, 2008. Tags: , , , , , , , , , , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, TARP, Wall St. 3 comments.

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