For those interested.....here is the blog
Posted By: sm on 2008-09-24
In Reply to: Here is a poignant remark by a black man... - on an ABC news blog........sm
http://blogs.abcnews.com/politicalpunch/2008/04/obamas-college.html
Complete Discussion Below:  marks the location of current message within thread
The messages you are viewing
are archived/old.
To view latest messages and participate in discussions, select
the boards given in left menu
Other related messages found in our database
Of course, the Hillary blog has the all
knowing truth....give me a break. Before or after she stormed Kosovo under sniper fire? LMAO
Saw this on another blog....the cause in a nutshell....sm
How this meltdown occurred, in a nutshell, point by point.
The link at the bottom is pretty interesting too, for how the government has failed.
The cause, in a nutshell:
1. Congress (under Jimmy Carter) passes a bill making it illegal for banks to “redline” (that is, they can’t ignore poor neighborhoods because that would be discrimination).
2. In 1992, Clinton can’t get elected by saying “Vote for me and I’ll give $250,000 in tax dollars to all poor people so they can buy a house” so he instead says “I feel your pain” to get into office.
3. Clinton changes the rules so that banks are faced with $10,000 fines (or 1% of assets, whichever is less) per-loan-application if they discriminate against the poor. In other words, the government FORCES banks to make bad loans.
4. To soften the load, Clinton reduces the Fannie Mae “reserve requirement” to an astoundingly low 2.5%! (They need to keep only $2.50 in cash for every $100 loaned!) Banks, faced with $10,000 fines, respond by making bad loans and immediately dumping them on Fannie Mae.
5. Clinton rule changes also require banks to count WELFARE CHECKS AND FOOD STAMPS as “income” for loan applications!
6. Senate Democrats demand that Fannie Mae buy more bad loans to “help the poor become homeowners.”
7. Radicals Islamists attack the U.S. on 9/11. To keep the economy from tanking because of the terrorist attack, the Federal Reserve keeps interest rates artifically low - to stimulate the economy. These low interest rates make it even easier for people to get mortgages.
8. Because Fannie Mae is buying up bad loans like candy, banks keep making them.
9. Conservatives see the handwriting on the wall and start complaining.
10. Fannie Mae CEOs James Johnson and Franklin Raines “cook the books” to give themselves, and other former Clinton buddies at Fannie Mae, bigger bonuses.
11. Raines (like, Johnson, later an Obama advisor) is forced to resign and pay back millions.
12. Because many poor people entered the housing market, there are MORE buyers chasing the same number of houses available. That makes prices go up - much faster than the inflation rate. (Duh! If more people want the same house, the seller can charge more!)
13. More conservatives warn Congress of trouble ahead. Barney Frank (D-MA) and other Dems say “Don’t worry, be happy.” Maxine Waters (D-CA) says Republicans are racists for wanting to rein in Fannie Mae to prevent poor blacks from buying houses. Waters praises the crook Franklin Raines.
14. John McCain submits a Fannie Mae reform bill in 2005. Senator Chris Dodd (D-CN) gets his fellow Dems to promptly vote against it; it never leaves his banking committee and thus never gets voted on by the full Senate. Dodd gets a boatload of cash from Fannie Mae for his campaigns, more than any other Senator (Obama is in second place).
15. Everything explodes in 2008.
16. Secretary Paulson (a Democrat) persuades a non-functioning President Bush to go along with a bailout.
17. At a White House meeting, Dems feed their talking points to Obama so he can look good. He screws up, and lambasts the Republicans - angering them enough so that they have no desire to help.
18. Frank, Dodd, Reid, Pelosi blame the Republicans. The media piles on, ignoring the real cause of the crisis, in an effort to elect their socialist pal Obama. They all know the Dems caused the problems, but why burden Americans with the truth?
19. Conservatives in Congress say NO to socialism.
20. Americans say NO to socialism.
21. Democrats say THIS IS CRITICAL, WE MUST ACT! and then take a day off for a Jewish holiday. (Better to risk destroying the economy than lose Jewish votes in November 4.)
22. McCain - foolishly - supports the bailout, reprising his role as the “Democrat-lite” candidate.
23. Sarah Palin will hopefully expose the Dems for their part in the mess during her debate with Biden.
24. Americans are screwed, no matter what happens.
The full details at:
http://colony14.net/id46.html
Blog cacca is what it is! LOL
LOL
Actually read his blog
I am not for Obama at all but I try not to just listen to things that I hear and take them as fact. I do my own research. if you actually read his blog he states that 20% of the jobs should go to people needing training; poor, minorities and women. There is nothing wrong with trying to give someone a leg up in life. Now I would be hard pressed to agree if he was saying no jobs go to white males but that is not what he is saying. Please people on both sides read, research and reach your own conclusions...don't take someone else's word as gospel on either side.
It is a right-wing blog, sam.
Aren't you the one who always complained about people posting information from blogs? Aren't you the one who dismissed anything posted from blogs as being irrelevant? Can you spell hypocrisy?
demo blog site
http://www.ariannaonline.com/
Also, I reread the post and you did not say that was from another blog.
.
I saw some posts on a blog where someone called him that. sm
It is unfortunate everyone did not get to know his positions better. He is an economics genius and if it is not constitutional he does not vote for it. Personal liberties and freedom appear to be not important to Americans anymore. Perhaps experiencing an economic collapse and maybe martial law will wake them up.
Saw this on a blog, written by a soldier....sm
Apparently written in response to negative posts regarding our country, the election, the republicans, etc. I felt this soldier's viewpoint is very, very important.
I will tell you about America!! I have been a soldier. I have seen American men and women of all RACES and religions that courageously and proudly serve their country. Many of them made the ultimate sacrifice for their country with their lives. I read these comments putting down what these finest of Americans have done It makes me really ANGRY. These people that put our country down have NO appreciation of the freedoms that they have because of the sacrifice of these military heroes!!
I know that in America we have problems and although it has taken along time to fix many of these problems, we still FIX things. That is what Americans do. There have been racial problems but in 1862 there was slavery .A Christian republican president (Lincoln) issued the Emancipation Proclamation that ended the slavery and set our country on the road to racial equality. We are not entirely there yet but we have come a long way. It would have been impossible in years past for a black man like Obama to make 4million dollars a year not to mention actually run for president.
The capitalist system that he is trying to destroy has been really good to him.
I have been around the world and I have seen “civilized” socialist European countries that have a 6o% tax rate on the working class in order to “spread the wealth” and few personal freedoms. I have seen third world countries where one in three babies die due to water born disease. I have also seen American Christian organizations voluntarily drilling wells to help these people survive. I have seen Americans risking their lives to provide medical assistance to people that have no access.
When that enormous tsunami hit Indonesia, Who was there first??? America was there first. American Marines put down their weapons and began digging the out survivors as well as those who didn’t survive. Americans set up water purification units to provide safe drinking water, setting up field hospitals aiding the injured, setting up temporary housing for these victims and food services for the victims. America was there FIRST!!
I have seen countries where the middle class live in filthy squalor, with open sewers and trash in the streets, living under oppressive totalitarian regimes. I have seen communists that plunder, murder, rape and torture the very people that they are supposedly “liberating”.
You people who want to believe that America is so bad really don’t have a realistic view of the world. NOWHERE in the world do people have a higher standard of living due to our capitalist free market system. NOWHERE in the world do people have the personal rights that we have in America. NOBODY in the world puts so much effort in to helping other people, even some that are not very friendly to us. NOBODY matches our humanitarian worldwide efforts. Why do you think that so many people want to get to America????
You people that put America down should really open your eyes and take a good honest look at the rest of the world. You should also question the anti-American rantings of people like Mr. Ayers, Mr. Wright and those associated with them. If these people had spouted this stuff in 90% of
other countries, they would have been thrown in prison or would have wound up in an unmarked shallow grave somewhere. Instead Mr. Wright lives in a 1.2 million dollar home and Mr. Ayers is a professor in a prestigious university.
Again, only in AMERICA…..
WAKE UP AMERICA……WAKE UP!!!!
I COPIED THIS FROM A BLOG, AND APOLOGIZED ONCE. TAKE IT OR LEAVE IT..NM
Short blog from watershed wordpress...sm
Mon 21 Mar 2005
a culture of life?
I don’t know what it is about this Schiavo case that is driving me nuts and pissing me off to no end. It just seems like the epitome of contradictions, hypocrisy and doublespeak. Even beyond the implications for the “sanctity of marriage” and the over 17,000 Iraqis, and over 1500 US soldiers killed in the Iraq War as I ranted about in this post.
There’s a great article in the Washington Post about Bush’s record on life and death here.
Bush on Schiavo: “…we must err on the side of life…”
Bush on Karla Faye Tucker: “Please,” Bush whimpers, his lips pursed in mock desperation, “don’t kill me.”
Let us not forgot Bush oversaw 152 executions while the governor of Texas.
And let’s not forgot about the baby who was taken off of life support against his parent’s wishes, in Texas as a result of a Texas law (passed by none other than our president) that states the hospital can make decisions about the termination of life over the family. (as I post this, Keith Olberman has started talking about the same thing!). You can read about this here (link not in repost).
Wait, I am comparing someone like Terri Schiavo, to a convicted killer like Karla Faye Tucker, to thousands of Iraqis, to US soldiers, and to a little baby? You bet I freakin’ am. Isn’t that what a “culture of life” would be all about?
-------
Nope MT, he has done some things wrong :(
A blog by an Iraqi about his homeland and Democracy. sm
I read this every day until he stopped posting. It's very informative and not something seen in the MSM. There are other links there that are still active.
Linked to a Jewish blog? I assume someone from sm
the conservative board did that. I am opposed to war and weep for all victims of war. My criticism is aimed at the state-nations responsible for them, including my own.
I almost fell off my chair reading that blog. sm
That ad campaign took major cohones to pull off. I have to agree with almost every posting there. I did not vote for it, but then I did not vote for ANY bailout to ANYBODY. So Chrysler basically thumbed their noses at us and there is nothing we can do about it. This emoticon says it all. 
Director's blog at the CBO link inside
http://cboblog.cbo.gov/
Good because I started to copy the blog this morning...sm
And my first instinct told me not to. After reading Lurker's post I thought about the blog, copied it and forgot it had the word in it; it was bad judgement. Will it stop people from judging me - NO. That's the way of the world, so you guys have at it until this is deleted. I'm through.
If you know some good democratic blog sites, please respond to this post with the links. nm
Thanks.
I am interested in this
What is a little definition? And how is your definition a big definition. Can you provide sources for this categorization?
I am still waiting for the sources of the claim that a liberal poster(s) has stalked a conservative poster(s) at some point. I find this very very intriguing and eagerly await the details!!!
If you are interested, there is more...
on this on the America's Most Wanted website with some more detail. It does not appear to be biased one way or the other...and there is some food for thought there. They seem to be leaning more toward what I said...that the agents should have been reprimanded but the sentence appears pretty harsh. One of the agents has since been beaten up in prison, AMW contends, by other inmates who recognized him from the show (Hispanics yelling kill the border agent) while they beat him up. I did not try to confirm that part of it. At any rate...I do not think, after reading all of this, it would be wrong for the White House to pardon these two men, even if that pardon included removing them as border patrol agents, if that is what it took. Point being...at most border situations, it is going to be the guards and the illegals and no one else...so there does need to be accountability for border patrol agents...and frankly, illegals, I still say, should have NO legal standing in this country and should understand that if they cross illegally. That does not mean that border patrol should have carte blanche to shoot people, that is not what I am saying. THEY need to be accountable to our legal system. However, the illegals should have no standing and should realize that when they come here illegaly. I know that there are many on the liberal side, and perhaps even on the RINO side but I have not heard of any... who disagree with that and think they should have the same rights as US citizens. I disagree with that strongly.
Ok....certainly your right! Was interested...
in what the kinda judgmental poster who was horrified that she was pregnant and saying that the family had no values because of that...if that poster thought abortion would have been better. Frankly, the fact that the girl elected to marry the father and have the child shows me that her family values are in place. To save the child is also a choice, and I think she made the right one.
Thanks for your answer!
For anyone who is interested...
http://www.tysknews.com/Articles/dnc_corruption.htm
I had no idea there was this much stuff out there.
very interested--thank you! nm
x
Thanks, but no thanks. I'm more interested in
x
Since you are so interested, ...(sm)
I actually did do your research for you, just not in this thread. Try looking under the next thread up about credible sources. That was the point -- the fact that you could not say what you meant, you just spouted out some crap you heard on TV, and then got mad because someone called you on it. Grow up.
P.S. Is this something the ACLU would be interested in?
Thanks again.
I have to say, honestly, I am just not interested.
That is my true feeling on the matter. I am absolutely zero vested in conspiracy theories or ascribing blame. Blame will not bring back anyone and at the same time, I feel there was a long long line of failures leading up to 9/11 that started way before President Bush and continued through many presidencies. I hope, no matter what, in the end they can have peace of mind. I am sure it has to be hard for them.
Interested in knowing...sm
Not to rehash the debate but was it Stephen or another poster who supposedly made threats against the president. I missed that.
the nation really isn't interested
It's just a device used by the neocons to keep the attention of the stifled. They know that the repressed loonies in the county slobber over anything pertaining to sex. Just look at O'Reilly. Nearly every night he has some story about prostitutes, strip clubs, girls gone wild -- he is complaining how horrible it is, yet they always have tapes behind him of half-naked coeds grinding away. If it is so horrible, must we see the tapes over and over?
I'm sure you would have missed it since all you are interested in sm
is your own agenda. You can't even listen to anyone else's point of view and all you can respond with is sarcasm.
I am learning too but interested in
even-sided with obama and dodd's names all over the place?
Not really interested in talking to you. nm
x
What it tells me is that you are interested in
naysaying, innuendo, division, polarization and the like. Sam, what matters to most of us savoring this incredible moment in our history is not what happened in the past. In this way, even the shrub gets a get out of jail card. My interest lies in the future and I see nothing suspicious or scary about Obama despite your best efforts after all these months. I also am not interested in preaching to the choir from either side. What I think matters now is that we try our best to get past this election and on with the business of uniting ourselves behind our leadership and start tackling the very difficult challenges we face on so many fronts. The economy is an equal opportunity crisis. Addressing global warming, the environment and alternative energy offers the promise of benefit for us all, and peace on earth is a goal that we share with the peoples of the world. Those matter to me. Not the implied, possible nefarious ties Rahm Emanuel may or may not have with the boogey man.
but she did not say she is not - I am not worried - just interested - nm
x
The world is interested because -
America has always been a leader in the world and looked up to until the last few years. I don't believe there is anything sinister going on because the world is excited. So much of what goes on in the world revolved around the US for so long. Nobody used to care that everyone looked to us for guidance - what is the problem with it now? I for one am glad that people are beginning to look at us as leaders again and not with the contempt and disdain that they have been feeling!
Another one I would be interested in vetting is
Tom Tancredo of Colorado.
Here's something interested we heard
Last night we were watching the movie Demolition Man. Don't know if you've ever seen it. Sylvester Stallone goes in cryostasis and 70 or so years later he's brought out to hunt down a killer (Wesley Snipes). Anyway...here's what's interesting. He's riding in the car with Sandra Bullock and she tells him Schwartenneger was president. He said something about him being foreign born and she made mention that because he was so popular they changed the ammendment.
DH & I looked at each other and said isn't that interesting.
So pretty much you are interested in
throwing out smears that you are not willing to back up with facts, citations or examples and baiting other posters. You also don't seem to care how ignorant you sound, given the fact that it is patently clear you don't have a clue as to the meaning of racism or bigotry. You also seem quite unwilling to engage in any meaningful debate on the so-called pot-shot issues you fire off in your drive-bys. To top it all off, so far you have shown yourself to have a fairly juvenile, shallow, superficial and limited form of thinking.
Should you decide to step up to the plate and actually post something of substance you are willing to exercise some intellect over, I'll be more than happy to accommodate. In the meantime, I'd rather use my time more productively reading up on the latest news.
So pretty much you are interested in
throwing out smears that you are not willing to back up with facts, citations or examples and baiting other posters. You also don't seem to care how ignorant you sound, given the fact that it is patently clear you don't have a clue as to the meaning of racism or bigotry. You also seem quite unwilling to engage in any meaningful debate on the so-called pot-shot issues you fire off in your drive-bys. To top it all off, so far you have shown yourself to have a fairly juvenile, shallow, superficial and limited form of thinking.
Should you decide to step up to the plate and actually post something of substance you are willing to exercise some intellect over, I'll be more than happy to accommodate. In the meantime, I'd rather use my time more productively reading up on the latest news.
I was more interested in the idea that...(sm)
Alaska is getting hit financially because of the drop in the cost of oil, and yet Palin seems to think this is a perfect time to basically give herself a whopping 20% raise. Sounds some CEOs that I've heard of recently.
You are such a child, interested only in
sake. Do you know what leftie means?
No, I was more interested in what our President had to say
And it was refreshing to here an intelligent, thoughtful speech.
No doubt, that's all he would be interested in doing.
x
You might be interested to know this is the country
Honest to gorblimey, you need to try to blow some of those liberal cobwebs out of your cranium.
Not even interested in the architects of the 9/11 disaster. sm
They either have more lucrative interests in Iraq or are just bent on ridding it of Saddam or all of the above (too much history there), and we all know good and well there were no jihadist extremist there before America invaded that country, so this so-called War on Terror in Iraq was INVENTED.
I am sure the troops in Afghanistan would be interested to know they are not there.
,
I'm really not interested in arguing the point...sm
Of who is worst because you are right they all were wrong. I just don't understand why when someone does something wrong people expect you to not say anything about it because *others* have committed similar crimes in the past and got away with it. And??
I understand being upset about Studd and even Clinton if you feel that strongly about it, but don't expect business as usual when a scandal like this hits the fan. People are going to talk about it. 23 years ago when Studd was having his affair I was in grade school so excuse me for first not knowing what you were talking about (until I researched it) and second not seeing the relevance of it in the case of Foley. I'm sure there was outrage for what Studd did too. Now upon learning about Studd and his (I can't say that here), I even said I do not know how or why the people continued to vote him in and yeah he should have had the decency to step down. Sorry you think I'm being partisan - NO far from it. I am always disgusted with people who prey on children, birth to the day before they turn 18, sexually.
Oh and don't expect me or anyone else to think Foley is some stand up type of guy because he stepped down AFTER GETTING CAUGHT, mind you. Had he not been caught he would still be IM'ing children.
Yeah Clinton was wrong for lying under oath. He should have told the truth and apologized *to his wife*. It's not like it is illegal to have an extramarital affair.
Like you said, they are all morally wrong, but I tend to be more disgusted with child predators. It doesn't matter if you agree with me (there are plenty of people who do). We'll just have to agree to disagree.
One point you didn't bring up was Foley's job responsibility. That makes it a little more eerie. Are people not supposed to be disappointed that this is who we have in charge of protecting our children?
Anyone interested in the candidates houses? SM
On the www.apartmentherapy website, they feature the candidates homes. I love that site. Anway...spoiler alert, if anyone cares.
________________________________
What I found interesting is Mitt Romney lives in a comptemporary home on the water, which is pictured next to Barack Obama's conservative georgian style home.
OK, not of vital interest, I just love looking at homes. 
MasonD, If you are really interested in the truth...
and not bash posting, take a little look at the internet...google Clinton Iraq WMD and see what you get. Clinton thought there were WMD during his administration too. Don't you remember him getting on the TV and telling us all how Iraq had WMD and if they did not comply with the UN and let the inspectors in we might have to use force? I bet I could find that on You Tube or someplace. The CIA director at that time was George Tenet. When Bush was elected, he did not fire Tenet, he kept him on (BAD mistake in hindsight I would say). Tenet told the Congress and everyone else (now this is the head of the CIA mind you, left over from Clinton's Administration) that it was a slam dunk that Iraq had WMD. Soooo...if it is a lie it was one that started during the Clinton administration. So St. Bill believed it too. Even though he seems to have amnesia regarding that fact until a news show confronted him with it. And then it was the stuttering and stammering and "yes I believed it then...but I don't believe it now." Yeah right. Nothing changed between now and then...sheesh. Had that deer in the headlights I did not have sex with that woman MS Lewinsky look.
It really is just amazing to me that you folks cannot see any of the faults in Democrats but EVERY fault in Republicans...lol.
Here are ALL the figures in case anyone is interested...
First---100% of southern Republicans...consisted of ONE senator. When one senator votes against something, yeah, that is 100%. Sheesh. Take a look at ALL the figures.
Martin Luther King, Jr. and Malcolm X at the United States Capitol on March 26, 1964. Both men had come to hear the Senate debate on the bill.Johnson, who wanted the bill passed as soon as possible, ensured that the bill would be quickly considered by the Senate. Normally, the bill would have been referred to the Senate Judiciary Committee, chaired by Senator James O. Eastland, from Mississippi. Under Eastland's care, it seemed impossible that the bill would reach the Senate floor. Senate Majority Leader Mike Mansfield took a novel approach to prevent the bill from being relegated to Judiciary Committee limbo. Having initially waived a second reading of the bill, which would have led to it being immediately referred to Judiciary, Mansfield gave the bill a second reading on February 26, 1964, and then proposed, in the absence of precedent for instances when a second reading did not immediately follow the first, that the bill bypass the Judiciary Committee and immediately be sent to the Senate floor for debate. Although this parliamentary move led to a brief filibuster, the senators eventually let it pass, preferring to concentrate their resistance on passage of the bill itself. The bill came before the full Senate for debate on March 30, 1964.
Shortly thereafter, the bill passed the Senate by a vote of 73-27, and quickly passed through the House-Senate conference committee, which adopted the Senate version of the bill. The conference bill was passed by both houses of Congress, and was signed into law by President Johnson on July 2, 1964. Legend has it that as he put down his pen Johnson told an aide, We have lost the South for a generation.[2]
[edit] Vote totals
Totals are in "Yes-No" format:
The original House version: 290-130 (69%-31%)
The Senate version: 73-27 (73%-27%)
The Senate version, as voted on by the House: 289-126 (70%-30%)
[edit] By party
The original House version:
Democratic Party: 153-96 (64%-39%)
Republican Party: 138-34 (80%-20%)
The Senate version:
Democratic Party: 46-22 (68%-32%)
Republican Party: 27-6 (82%-18%)
The Senate version, voted on by the House:
Democratic Party: 153-91 (63%-37%)
Republican Party: 136-35 (80%-20%)
[edit] By party and region
Note: "Southern", as used in this section, refers to members of Congress from the eleven states that made up the Confederate States of America in the American Civil War. "Northern" refers to members from the other 39 states, regardless of the geographic location of those states.
The original House version:
Southern Democrats: 7-87 (7%-93%)
Southern Republicans: 0-10 (0%-100%)
Northern Democrats: 145-9 (94%-6%)
Northern Republicans: 138-24 (85%-15%)
The Senate version:
Southern Democrats: 1-20 (5%-95%) (only Senator Ralph Yarborough of Texas voted in favor)
Southern Republicans: 0-1 (0%-100%) (this was Senator John Tower of Texas)
Northern Democrats: 45-1 (98%-2%) (only Senator Robert Byrd of West Virginia opposed the measure)
Northern Republicans: 27-5 (84%-16%) (Senators Bourke Hickenlooper of Iowa, Barry Goldwater of Arizona, Edwin L. Mechem of New Mexico, Milward L. Simpson of Wyoming, and Norris H. Cotton of New Hampshire opposed the measure)
Yes, I agree that things change. And the Democratic party got interested in African Americans AFTER they got the vote. Coincidence? I think not.
Not to fear. The Chinese are interested in...
...purchasing these American icons. More selling out of America, right under our noses.
Thank you, Congress. 
Chinese Automakers May Buy GM and Chrysler
By Bertel Schmitt
November 18, 2008 -
Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler, China's 21st Century Business Herald reports today. [A National Enquirer the paper is not. It is one of China's leading business newspapers, with a daily readership over three million.] The paper cites a senior official of China's Ministry of Industry and Information Technology–– the state regulator of China's auto industry–– who dropped the hint that "the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers." These hints are very often followed with quick action in the Middle Kingdom. The hints were dropped just a few days after the same Chinese government gave its auto makers the go-ahead to invest abroad. And why would they do that?
A take-over of a large overseas auto maker would fit perfectly into China's plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, shall we say, challenged. The Chinese could easily export Made-in-China VWs, Toyotas, Buicks. If their joint venture partner would let them. The solution: Buy the joint venture partner. Especially, when he's in deep trouble.
At current market valuations (GM is worth less than Mattel) the Chinese government can afford to buy GM with petty cash. Even a hundred billion $ would barely dent China's more than $2t in currency reserves. For nobody in the world would buying GM and (while they are at it) Chrysler make more sense than for the Chinese. Overlap? What overlap? They would gain instant access to the world's markets with accepted brands, and proven technology.
21st Century Business Herald, obviously with input from higher-up, writes that Chinese industry must change and upgrade. China wants their factories to change from low-value-added manufacturing to technically innovative and financially-sound high-value-add industries. Says the paper: "It would be much easier now for strong Chinese automakers to go global by acquiring some assets of their U.S. counterparts in times of crisis."
Deloitte & Touche sees a trend: "Chinese automakers can start with buying out the OEM projects and Chinese ventures of some global carmakers such as GM and Chrysler."
The Chinese appear to have bigger plans than an accounting firm can imagine. 21st Century Business Herald acts and writes as if its already a done deal, and the beginning of more to come. "In the coming two years China is likely to see a few of its large Chinese automakers and other manufacturing enterprises set a precedent for achieving globalization by acquiring global companies, just like SAIC or Dongfeng's possible acquisition of troubled GM or Chrysler."
Just in case you missed it, the Shanghai Automotive Industry Corporation (SAIC) is China's largest auto manufacturer. In 1984, the company entered a joint venture with Volkswagen. A decade later, SAIC entered a joint venture with General Motors. In 2007, SAIC bought the Nanjing Automobile Corporation, which had acquired British MG Rover in 2005.
Dongfeng Motor Corporation is a public company, although 70 percent of their shares are reported to be in government hands. They also are one of China's Big Three. The company has numerous joint venture partners, such as Nissan, Peugeot-Citroen, Honda, and Kia. Dongfeng (which means "East Wind") was founded at the behest of Mao Zedong himself in 1968.
Not interested in taking this off task.
nm
|
