black dog

Cramer's Mad Money- Technical Difficulties (11/12/08)

Paulson's $700B bailout/rescue plan was a huge mistake. The floodgates have opened with a flurry of unqualified borrowers seeking free money. 100% corporate welfare...and who decides the money is distributed? How can our financial system survive? This is totally insane, when you rob Peter to pay Paul you will always have Paul's support.

Any loans to the auto industry must be met with union concessions...and I don't know that they will share any of the burden. GM and Ford have failed business models, loans will only extend the enventual outcome...Bankruptcy. GM management commited suicide long ago, a slow and painful death. US autoworkers need to share the burden if they plan to survive, the greed of the unions and executives killed the US auto industry.