Archer on Detroit

" says it is insane not to I think there's a former mayor right there my only concern with this stuff is. If we tapped tarp money for this it was not meant business. And that's just part of the problem bodies."

" Neil I think it gave -- interest -- overview. At the top let me just say and correct she found me respectfully for. This is not a bailout this is a bridge."

" Loans and you know the problem -- now -- other kind of candidate. Oh absolutely and we'll be repaid you know a look at. -- I know what -- it GM loses today in a month right. At this this general notice -- fourteen billion this is this is less than half but the auto industry was originally looking for. All right well this isn't enough -- in past months next week."

" Meal at the same time. When you take a look at the work that Rick Wagner has been doing along with his boarded General Motors. They've been ratcheting down as well as Ron Gettelfinger and UAW at. Have been giving back and they've been working together and they've been reaching and starting to focus on how to return to profitability. But they need additional dollars in order to be able to run their company right now we've got businesses. Throughout the United States -- who cannot borrow money they can borrow money because the banks won't loan to -- was supposed to do that. Fortunately the president United States George W. Bush. Has a global domestic overview and understand how other foreign countries had been. Helping there auto industry in other parts of the world and they also understand that in General Motors goes down goes into bankruptcy unlike. Buying a ticket on an airplane attend bankruptcy they see their playing time they know it's a short term opportunity wave -- you buy your ticket. Why can't I can't execute it and going to stand like a -- did -- an auditor general. The deal -- is this if you go into bankruptcy with the car. Yeah with the car company you're talking about many between 18070000. Dollars. For a vehicle that you won't -- he -- service you want -- and the like and you buy an airplane ticket. There it deploying does stop flying the airlines stopped my chances are not."

" Oh man there is there any less of the scarlet letter attached to that car purchase when you're getting it from a company it's just gotten a bailout and and a promise that it might get -- they loved -- it would be in Bristol and think well. I article. Edwards now all right I'll go if you ma'am we'll call click on. Are you getting any less assurance when you buy from a company getting a bridge -- in the hopes that it's gonna repay that loan and return to profitability. When you know in the case of GM -- thirty years steady record of declining market here."

" If you go back and take a look at the last time. A automobile company in this case Chrysler went to went to. The federal government simply doing a loan. They were able to get a loan for one point five. Billion dollars and if you bring Dell's numbers up and make them real dollars today significantly more. Not only did they repay the loan. That federal government made money on it. And that's what we're talking about here is give the automobile companies an opportunity. To use the bridge loan and Rick Wagner general."

" Hello hello hello I'm and a man well one Canadian dollar terms today it'd be about five day and you're right of its agreement a nominee did pay -- back. Night and day difference does is a lot more money indicates is that the industry's going to need a lot more money. No one is taking away in there anything about the decency and hard work of the American auto workers maybe you can blame their bosses from making the wrong cars at the wrong time. Maybe you could blame the world situation the competition heating up. But they collectively as organizations. Have not kept up and so are we doing those workers a disservice. When wheat -- the -- with taxpayer money that just might stave off the --"

" I -- doing the right thing and I believe that we did. Where we put down as Americans it's 700 billion dollars we never invited in. Any of the congress and everybody in any of the CEO. Secretary Paulson outfit camera and he went in and made the case the money was there."

" You're right there's no that was -- I have that lets you see Neil knows well the don't nobody. Ask any of the employees. All the fun you know to marry you -- dead on to write about -- that's -- you're dead on right it was stupid what you don't know I'm not saying that's stupid well I -- I was absolutely I tell you stupid."

" And you don't correct a stupid mistake by making."

" Another stupid -- Now look I've. I disagree with you -- I respect your opinion in your views but I disagree but one thing you did say that I absolutely agree with -- If you -- General Motors go now -- you know. That the United States will be paying more considerably more. Then they then they bridge loan that needed. Right now for Chrysler and General Motors because if that if the pigeons go bust and they go belly up a big on the bankruptcy in the Pentagon. Do you have any idea at all of how much the federal government ought to be."

" Please -- on -- what you're doing here and we're gonna judge your former mayor you represent your people well you think highly of the now and he's still looking have to might appreciate that. Would you do on the fear tactics and -- do you realize that I don't know and a little doubt that hey -- know there's always that held the tape few doubt."

" Here's what I want to understand. While I may be recovering politician -- but I also want you to know that I served as chairman of the largest metropolitan. Chamber United States to Detroit regional chamber. Not only to regional chamber behind this not only is Detroit renaissance that 58 CEO. Right here within the next and that Conan are so many other people. Behind this I won't tell you -- also serve as a member of the board of directors. Johnson Controls Johnson Controls we had a -- one now understood before the united under house of senate committee why. To -- the -- that what occurs to the -- out of -- that's not our kids are what are likely General Motors are but the formal but the point implanted heart -- transplants as well."

" Now usually meets -- just we have we're out of time but when you keep pointing at me you scared me and -- very good alongside men obviously you -- great I -- you argue use case very well mayor of pleasure that Europe thank you so much. Happy holidays to you was when my friend all right so attack."