I am so so sad that GM has to file bankruptsy.. If I understand Guided Bankruptsy, it's just another Government bailout measure.

Our Gov/we will own about 60 or so % of GM, and just keep pumping money in. The only difference is, that they don't have to pay this money back, including all the moneys we've already pumped in..

It just seems so unfair that these elite few, after bilking us for every penny we own, can back out so dang gracefully, without giving up a penny of their ill gotten gain..

I am so depressed and so assahamed of how this has all been handled...from the start..

The government trying to keep all these companies from going belly up for all these months is not working and I think it's causing more harm to our economy.

Nothing is too big to fail. As much as I liked President Bush, I think he's the one who made the mistake first, and Obama is just making it worse by handing out bailouts like they were appetizers at a dinner party.

I really am worried about what's going to happen to the country. They're bailing out all of these failures, and not allowing the People anything, other than debt, out of control inflation, and future suffering of all sorts.

I think if you fail, you should be allowed to fail ALL the way. no bailouts, no handouts, no union concessions with promises of golden parachutes, and rosey futures. If you have a good company, you keep up, and if you cant keep up, you fail. end of story. Once leehman brothers was allowed to fail the panic began. AIG held insurance policies betting that leehman was too big to fail, and when it did, they were forced to pay out on those policies which made them next in line on the cliff of failures. Let the bailouts begin. This should stand as proof that even with bailout after bailout, if you are meant to fail, YOU WILL.

It will be forever and a day before we get any money back from them, and we are now proud owners of a worthless company. Thanks!

Look at how many citizens have had to file for bankruptcy since this whole recession began. Were any of them "bailed out"? I don't think it's fair for GM to keep getting handouts/bailouts....they've proven over and over they cannot manage the company.

I understand that letting GM fail means thousands of unemployed people. I get that. Join the club.....unemployment is at an all time high. But why should everyone who doesn't work for GM have to shoulder their burden? If GM workers (yes, UNION workers) want to keep their company afloat let them finance it by taking a pay cut. And let the high-paid executives who've proven they don't know how to run a company start over again as a hourly paid assembly line worker.

We're watching house by house get foreclosed in our neighborhood. The lady on the corner across from my house got her house foreclosed, but that's because her jerk (homicidal maniac jerk!) of a boyfriend refused to help with the payments that he signed a contract for. And then he came to visit her one day, wanting to kill her. (drove his truck thru her garage) and when that didnt work, he showed up on Christmas while she was at her kid's house. Trashed the place. And when I say trashed, I mean with a fire axe trashed.

The bank that foreclosed on her house had workmen in there the other day (6 months after the vandalism) and they were bringing out the kitchen countertops and cabinetry and it looked like kindling. A lot of her furniture was left behind because it had been hacked up. (I now completely understand why she was crying uncontrollably the day she moved out, and why they were able to pack up so quickly)

There's another house up the hill that just started foreclosure proceedings, and I think there are rumours of a few more houses where the families are in trouble. That's just in our HOA, there are dozens of houses in the much larger HOA that's down the street from us that are going belly up too. Why doesnt the government try to do a bailout for those people? (not that I really want them to, a lot of those people overextended themselves. If they'd lived within their means, they might not be having these problems now)

We're noticing some strange activity in the forest up the hill from my house. Lots of strange looking men going in and out, and today some guy with a suitcase and a dog was sleeping in the grass just outside of the tree line. (hope he had bug repellent, there's a lot of ticks up there!) We're assuming that they're homeless and they're camping up there because the homeless population down by the lake is expanding (along with the crime rate in our neighborhood).

I'd rather see the government helping out The People, rather than the too-big-to-fail-until-they-FAIL-miserably-companies.

Our neighborhood is peppered with "bank owned" homes. some of these folks lived in these places 10 years. long before the "sub prime" mortgage crisis. Yes, most took out home equity loans, and yes, most couldnt afford it, and the price of their homes was over inflated because of the huge swing in prices, and now when they go to sell its not worth 50% of what they thought. We tried to sell our house to move closer to the in laws, and people were showing up offering us pennies on the dollar. Those with money are out there trying to get some bargains, and those without are hurting. Once you lose your house, your credit rating is so poor, that now you cant qualify for an apartment lease. We see many living in their cars. One of our local churches has allowed overnight parking for families living in their cars. You must be gone by 8am, but at least there is a safe spot to park, and the police wont run you off.

The president said "we are back from the brink." Im sorry, but I dont believe that statement. i do not think we have seen the worse of this yet.

I think this whole bailout situation was handled so badly from the start. We now have statues being errected in state parks, and programs to find out why lobsters are mating less in some states, and buildings being errected that benefit no one, all because they got tacked onto those bailout plans. We have paid out more money in programs that were attached to the bailouts then ever should have been allowed. its just silly to have the bailout program include an outdoor playground for a preschool for a wealthy suburb. Sheesh!

I hope Americans start paying more attention to what their congress, and senate houses are passing that is attached to the programs that newcasters report.

Congress.org will keep you updated on how your local politicians voted, and what votes are up coming for your area.

Sunlightfoundation.com posts the text of major bills, like the stimulus packages.

Recovery.gov is the website for the stimulus information

cagw.org tracks government spending.

Pogo.org monitors federal contractors.

Cop.senate.gov monitors the bank bailout.

consumerfed.org connects you with local groups that are working on issues important to you and your neighbors.

The effects of the recession are seen everywhere. Empty houses....overgrown lots....people living in tent cities....taxpayers being made to fund big corporate bailouts while everyday people stand in the unemployment line wondering how they'll pay the electric bill.

I'm so discouraged at the way things are being handled. I feel like I fell for a whole lot of promises and I'm getting a whole lot of nothing. It's just not fair. I didn't trust a lot of people before all this happened and now.....well, let's just say I trust no one anymore.

I just read an article about the President and his wife jetting off to NYC for a Broadway show. Apparently he promised her this trip while campaigning. It didn't say how much this is costing the taxpayers......but I can make a pretty good guess. Probably more than I owe in income taxes this year that I have no idea how I'll pay. Probably more than it would cost to insure one person who has lost their health care coverage due to job loss.

Not trying to make this political but I am so disheartened at the way things are being handled here in the U.S.. Canada is looking better to me everyday.

it is hard to see other being jetted off to broadway shows while we turn down the heat. it sucks.

We need to provide protection for this man now that he is elected, and that includes allowing him some personal time with the wife, to keep a promise to her. Unfortunately whether he goes potty, or goes to NYC he requires protection, and will require it long after leaving office. It is part of the political package, and would be the same no matter whos name is on the desk plate.

I too see so many people feeling tricked or fooled by the promise of change only to find out the only change was their change of address or change of employment, or their change to a lower tax bracket.

it is scary times. I hope we can turn that corner soon.

I don't begrudge him (or anyone) personal time to spend with their family.......but the timing for this little outing sux!

What I really want to know is, Are we all going to go out tomorrow and buy an overpriced, underachieved GM car, to help OUR new company succeed?


EDITED to add. Why did I shudder when I just saw this headline.."Uncle Sam is in the driver's seat"?