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Thread: Harry Reid: Auto Bailout Probably Saved Ford

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    Harry Reid: Auto Bailout Probably Saved Ford

    Harry Reid: Auto Bailout Probably Saved Ford

    RealClearPolitics - Video - Harry Reid: Auto Bailout Probably Saved Ford



    SEN. HARRY REID (D-NV): "Isn't it a good thing today in America that we have an automobile manufacturing sector? If it had been up to them [Republicans], General Motors would be gone. If it were up to them, Ford Motor Company would probably be gone. Chrysler definitely would be gone."




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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Republicans would have done the bailout as well. No one was going to let them fold.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by Boo Radley View Post
    Republicans would have done the bailout as well. No one was going to let them fold.
    i would disagree....they would have let them fail if anything to cripple the unions

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by randel View Post
    i would disagree....they would have let them fail if anything to cripple the unions
    No, I don't believe they would have. History tells another story. While I do agree they would not help unions, the fact is failure would effect far more than the unions. We have always bailed out the auto industry and there is little to suggest anyone would have done anything different today. They would merely have tried to tar the unions with the need for the bailout.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by Boo Radley View Post
    No, I don't believe they would have. History tells another story. While I do agree they would not help unions, the fact is failure would effect far more than the unions. We have always bailed out the auto industry and there is little to suggest anyone would have done anything different today. They would merely have tried to tar the unions with the need for the bailout.
    i believe that they would have seen at least 1 of the 3 fail, just for, as you said, to 'tar' the unions with the need for the bailout.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by randel View Post
    i believe that they would have seen at least 1 of the 3 fail, just for, as you said, to 'tar' the unions with the need for the bailout.
    Too bad we can't have a reply to see for sure. It would be interesting. But I suspect they would have thrown the money at them without any realistic effort to recoup the money. But, like I said, I do wish we could see what they would have done and how supporters would have framed it.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    How does a bailout that Ford did not take save ford?

    Reid Says this after he said Illegals do not work construction in Nevada. He also says his energy bill is not cap and trade and that is not in his vocabulary. Reid is showing he can not be trusted and he is not believable.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by ptif219 View Post
    How does a bailout that Ford did not take save ford?

    Reid Says this after he said Illegals do not work construction in Nevada. He also says his energy bill is not cap and trade and that is not in his vocabulary. Reid is showing he can not be trusted and he is not believable.
    Actually, the bailout did benefit Ford.

    At the same time, the Dearborn, Mich. car company is likely to benefit from many of the concessions that General Motors Corp. and Chrysler LLC exact from the suppliers, unions, dealers and debt holders shared by all three companies.

    (snip)

    Still the company needed the Bush Administration to rescue GM and Chrysler because of fears that a failure of one or both of those companies could imperil their shared base of auto-part suppliers. "The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy," Mr. Mulally said.

    Ford Will Likely Benefit From Bailout - WSJ.com

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by Boo Radley View Post
    Actually, the bailout did benefit Ford.

    At the same time, the Dearborn, Mich. car company is likely to benefit from many of the concessions that General Motors Corp. and Chrysler LLC exact from the suppliers, unions, dealers and debt holders shared by all three companies.

    (snip)

    Still the company needed the Bush Administration to rescue GM and Chrysler because of fears that a failure of one or both of those companies could imperil their shared base of auto-part suppliers. "The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy," Mr. Mulally said.

    Ford Will Likely Benefit From Bailout - WSJ.com
    You use a 2008 article that it could help? Is that because there is no proof it helped.

    Ford did not take the bailout because they did not want government control over their business.

    Ford did what it had to do and GM could have done the same.

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    Re: Harry Reid: Auto Bailout Probably Saved Ford

    Quote Originally Posted by Boo Radley View Post
    Actually, the bailout did benefit Ford.

    At the same time, the Dearborn, Mich. car company is likely to benefit from many of the concessions that General Motors Corp. and Chrysler LLC exact from the suppliers, unions, dealers and debt holders shared by all three companies.

    (snip)

    Still the company needed the Bush Administration to rescue GM and Chrysler because of fears that a failure of one or both of those companies could imperil their shared base of auto-part suppliers. "The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy," Mr. Mulally said.Ford Will Likely Benefit From Bailout - WSJ.com
    The auto parts suppliers is the key here.
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