Wed, 18 Feb 2009 19:11:18 +0000 – By Eric BollingCo-Host, "Happy Hour", FOX Business Network/Host, "The Strategy Room", FOXNews.com
Lemme get this straight...YOU WANT HOW MUCH?
GM and Chrysler came back to Washington hat-in-hand yesterday as expected and then surprised even the skeptics in the crowd by asking for $22 billion more of our money. They say that this may help them bridge the "Raging River Recession" and allow them to return to profitability by say...2010. Well, I say, "yeah, right." (Insert my smirking mug here.)
[caption id="attachment_7480" align="aligncenter" width="300" caption="General Motors Chief Executive Officer Richard Wagoner, left, and Chrysler Chief Executive Officer Robert Nardelli testify on Capitol Hill -- December 2008 (AP file photo)"][/caption]
I disagreed with giving them the first $17.4 billion installment in a FOX Forum column last year called "Letter to Detroit from America." In my open letter to the car companies I pledged to buying a car from each of the Big Three automakers who solved their financial woes without taking taxpayer money.
GM and Chrysler have since decided to suck at the nipple of the taxpayer ba-ba and now need more cash. I am happy (fingers crossed and holding my breath) to report that Ford is still not taken any taxpayer money. I am still in the market for a Ford F-150. -- I am thinking red with a "Happy Hour" logo on one door, a "Strategy Room" logo on the other and Foxnews.com on the tailgate!
I vehemently disagree with any government plan to add to our already lousy investment in GM and Chrysler. Giving those two companies $22 billion morewill bring the total to almost $40 billion and they will definitely need more "car cash" down the road. We will never see a penny in return let alone a return on our "investment." Interestingly, they plowed through our money at a higher "burn rate" than they spent theirs which is both interesting and infuriating at the same time.
Finally, I always look for the conspiratorial flags first. Is there a chance that UAW Chief Ron Gettlefinger's aggressive refusal to renegotiate with the companies they are strangling might be because of another "Deep Throat"-style character? For the life of me, I can't understand how the union can hold so firm when the heartbeat of GM, Ford and Chrysler is almost flatlining. Unless...they have someone inside the administration ready to tell them when the taxpayer ba-ba milk has run dry. Of course, this is just a hunch, not an accusation by any means.
But here's one last word on this subject for the Obama administration: STOP!!
Eric Bolling currently serves as co-host of Fox News Channel's "The Five" (weekdays 5-6PM/ET). He also serves as the host of "Cashin' In" (Saturdays 11:30AM-12PM/ET), an analysis program on FNC's weekend business block, "The Cost of Freedom." Bolling joined the network in 2008. Click here for more information on Eric Bolling.