bump, bump bump bump bump, bump, bump

Yes, I just heard it on NPR this morning. Here's a link to Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=aDkK4lEZsSsA&refer=home

If for some reason it won't go through here's a quote: "The Senate rejected a $14 billion bailout plan for U.S. automakers, in effect ending congressional efforts to aid General Motors Corp. and Chrysler LLC, which may run out of cash early next year."

Bush is still trying to use part of the $700 billion to bailout the auto industry. from CNN this morning

Bush is just a lame duck. i do not think he is going to be making any big moves til he moves out.
but we will see if there is any news to long this, i will post it if i see it

They will get there money from the TARP fund within a few weeks or they will go bankrupt. There is plenty of news to go long on this. If they get 14 billion it won't fulfill the prop but it also is not nearly enough money to keep detroit afloat. If detroit does not go bankrupt by January 20th (Bush won't let that happen) Obama will instantly bailout detroit. I say they will get closer to 50 billion by march. 10-20 billion within a few weeks with the rest to come in late January. On a side note, this whole financial auto industry crisis has been predicted for well over a decade. Once the auto workers union revamps its stranglehold on the auto companies of detroit this bailout could actually be very benificial.

17.4 billion this morning. long.

Still Short!
http://www.cnbc.com/id/28312112

GM will only be getting $9.4 billion of that money. GM needs to receive a full $ billion for it to pay long

Sorry about that.

They need to get a full $15 billion by themselves for it to pay short

*ERRR*

I meant for it to pay long

Why has this FutureStock shot up in price so quickly? Is it something about possible lending to GMAC, GM's financing body?

http://money.cnn.com/news/newsfeeds/articles/djf500/200901161438DOWJONESDJONLINE000835_FORTUNE5.htm

Or is it just speculation? Input appreciated!

Taylor was asked about GMAC bailout money, and it won't count for this proposition.

GMAC is a separate corporation, and besides financing cars, they finance homes. (using the name Ditech)

Visit www.ppxchat.com A great place to meet PPXers and learn strategy.

I think in the spirit of celebrating how the goverment is giving money to loser companies PPX should do the same and instead of rewarding the people making the most profit, the contest should be change to reward whoever loses the most in a single month. I for once would really like to feel the glory of getting rewarded for doing really bad. And to make it even better the reward should come out out of people portfolios.

Well, considering we all started out with 250k in the beginning, I don't think the PPX would qualify as a "Capitalist Democracy". When props pay out, more money is given out than taken back by the bank...

Its more like a "Socialist Funhouse"