Big Three Bailout Ad

[FRED]

Sent to us by friends, creator unknown.

[GRG55]

Re: Big Three Bailout Ad

Sent to us by friends, creator unknown.

This is good! I am still ROFLMAO. Thanks for posting it.

[santafe2]

Re: Big Three Bailout Ad

Yeah, nice one Fred. I'd much rather pay them my share of the $25B than own one of their cars. I'm sure I'm coming out ahead on this.

[Scott4139]

Re: Big Three Bailout Ad

As a local supplier to the industry here in Michigan I'm looking forward to negotiating $500 suspension bushings with the government. Although the price of a Chevy Cobalt might need to be raised to $100K to make a profit. But then the TARP team could issue $90K certificates toward a new car.

[D-Mack]

Re: Big Three Bailout Ad

Angry Ford dealer in SC blasts imports in ads

SAVANNAH, Ga. – A Ford dealer angered over the proposed bailout of U.S. automakers blames the nation's sour economy on Congress and criticized buyers of Japanese cars, calling the vehicles "rice ready ... not road ready" in a radio ad.

O.C. Welch, who owns a dealership near Savannah in Hardeeville, S.C., began airing the minute-long ad on a dozen stations in the area over the weekend. The ad sounds more like a talk-radio tirade than a sales pitch.

"All you people that buy all your Toyotas and send that money to Japan, you know, when you don't have a job to make your Toyota car payment, don't come crying to me," Welch says in the ad. "All those cars are rice ready. They're not road ready."

...

oh boy

[LargoWinch]

Re: Big Three Bailout Ad

Not bad, not bad Ed.

Here is another one:

[fliped42]

Re: Big Three Bailout Ad

Any one know what the CDS exposure to GM and GMAC debt is? I assume it is in the $200 billion+ range ($45 Billion for GM + $160 Billion for GMAC). Since the CDS's are triggered by a default event (non payment or bankruptcy) this could be a very compelling reason to keep them going. If you are the Feds do you prefer to spend $15 Billion (compared to the CDS exposure) to keep it going for a while or have to provide large amounts of additional capital to the banks and insurance companies to cover the CDS losses? My quick estimate is 30 cents on the dollar debt value in bankruptcy leads to $140 billion in CDS counterparty exposure. Any thoughts?