Senate Banking Chairman Says Wagoner Should Step Aside

[gmcbob]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Roh roh.

Edited December 7, 2008 by gmcbob

[Newbiewar]

i think its a step in the right direction he's had the oppertunity to change things, and if it hasnt been done then it wont be... keep lutz around and put someone else in charge...

[Camino LS6]

There is one huge pile of stupid in the positions taken in that report.

And Shelby is a criminally negligent hypocrite on whose doorstep the economic disaster that will surely follow can be justly laid if loans are not approved.

[gmcbob]

Yeah, it's looking like our "do nothing" leaders are going to make this a real nail biter, as expected. That Richard Shelby guy sounds like a real ass hole to me. "Free market" my ass. We've given the Japanese and Koreans free reign in our country, by giving them land and tax incentives to set up assembly shops here to avoid tariffs and political backlash, while they pretty much close their doors to us when it comes time to send the Buicks and Fords the other direction. That is a first class f@#kin' folks - and the idiots in Washington either don't see it, don't care, or both.

The big picture in this whole debate for me centers around standard of living questions. If Washington ultimately decides to let GM (or Chrysler) fail, then they're essentially saying that our standard of living should be brought down a few notches too. Self serving pricks like Shelby don't even consider these bigger, more important ideas when he gets on the air and starts chastising "Detroit" for their past mistakes and calling any type of help we give them to stay alive as "bridge loans to nowhere".

Letting GM fail will ultimately allow the transplants to pay their employees less money.

If GM goes down because our fearless "leaders" can't see the forest through the trees, then I say to us as a country: "we're f@#ked".

Edited December 7, 2008 by gmcbob

[Intrepidation]

[network engineer]

Hopefully he does have to step down. He lead the company to 4 years of failure and Billions of dollars in losses. He deserves to be fired. The board and management support him, because they know that he's allowed such mediocrity and will take care of them. A real leader will clean house and they know it.

[ellives]

I suggest everyone from C&G open that CBS News link and post their comments to CBS. (I did.)

I've said before, Friedman is an idiot (journalist) who has no clue what it takes to actually do or build anything. He's the epitome of a Monday morning quarterback.

Edited December 7, 2008 by ellives

[biff]

Dodd is a crook, getting VIP treatment from failed Countrywide. Shelby's obvious motives, less jobs up north means more transplants in his state!

[BuddyP]

I don't know enough about Wagoner to say that he needs to be fired, but one thing I know is if the auto makers follow what Dodd says, they'd probably be in worse shape than they are now. Dodd is worthless. He's one who got us into this bailout mess in the first place with the banks. You can't tell me that the "Banking Chairman" didn't see this coming, and if he truley didn't, then he obvisouly can't do his job.

[BigPontiac]

Feel free to contact Chris Dodd directly and tell him what you think: http://dodd.senate.gov/index.php?q=node/3128&cat=Opinion

[haypops]

Dodd is worthless. He's one who got us into this bailout mess in the first place with the banks.

President Bush and Treasury Secretary Paulson own the financial bailout plan; not Dodd.

[gm4life]

President Bush and Treasury Secretary Paulson own the financial bailout plan; not Dodd.

No don't be fooled it ws Dodd and Frank too... As for the topic at hand Dodd can go get a real job along with most of the other goof-balls in that room. Wagoner has done lots of hard things most CEO's haven't had too do. I give him alot of credit. As for the merger with Chrysler Dodd that just wouldn't work so go f*ck yourself. I belief a merger would be a disaster.

[balthazar]

If you listened to some of the statements/questions posed by Congress, it's patently obvious that the GM/Chrysler merger suggestion has as much congressional analysis behind it as the action of chewing gum.

And Shelby should excuse himself for conflict of interest- he's beholden to the foreign corporations.

[BuddyP]

President Bush and Treasury Secretary Paulson own the financial bailout plan; not Dodd.

I'm not referring to the bailout plan, I was referring to where Dodd, Frank and Pelosi were a year ago when this was all brewing, they had to know. Bush warned of this in '03, McCain again in '05. This led to the credit crunch today. Now people can't get car loans as easy to buy new vehicles, along with an economy scare keeping other from buying new as well.