Magnus3x
12-12-2008, 10:11 AM
Man I am surprised they blocked the auto loan deal for GM and Chrysler, this is going to have some crazy ass effect on the market today, the US dollar and the DOW. The Euro and Asian markets already saw losses in the over night hours.
Should prove very interesting in the next 7 hours.
If they don't enact an emergency package this will obviously cause job losses to a degree we have never seen in the last 50 years, and it will deepen the recession. but I also believe the auto companies need to go bankrupt, re-do their deals with the unions and all the legacy payouts, unfortunately this is a either or situation.
Crazy times.
Should prove very interesting in the next 7 hours.
If they don't enact an emergency package this will obviously cause job losses to a degree we have never seen in the last 50 years, and it will deepen the recession. but I also believe the auto companies need to go bankrupt, re-do their deals with the unions and all the legacy payouts, unfortunately this is a either or situation.
Crazy times.