LIST OF BAILOUTS

First came the big banks and those who were trying to protect the big banks (AIG).

The Foreclosed homeowners were next, but that didn't work!

Now we have the entire American Auto Industry--and maybe the Foreign auto Industry, they do buy a lot of stuff from suppliers here!

Foreclosures will be tried again soon.

It would appear that maybe Airlines would be next.

Then of course the Home Builders.

Then the Commercial Builders.

Now, then, the banks own or are about to own lots and lots of commercial property which will not open soon--way overbuilt.

People involved with Infrastructure (roads, dams, bridges, lakes, Power, transportation) will be started by the new administration. With federal money.

Then Social Security Medicare, and Medicaid will be salvaged.

Now can we speed up the stock market to help at least some of the 401-k holders?
Government money again.

A health plan was supposed to be way up the list for kids, old people, and ill people particularly, but I'm not sure we are smart enough to do that one. even with government money.

Unemployment insurance and welfare will be needed for 15-20% unemployment within a year it appears. Government funds.

State governments: Several (mostly republican states), are right now broke.
Government funds.

Local governments--will simply raise taxes in many fashions--not many will get laid off and no salaries will be cut.

Well Bonker$, I don't know about your list but here's....

Submitted by Cyclist on Mon, 12/22/2008 - 9:13pm.

a company that just went into Chapter 11.

Bloomberg

Flying J Inc., an oil refiner, transporter and travel-center owner, filed for bankruptcy, blaming a cash crisis brought on by declines in oil prices.

The Ogden, Utah-based company listed assets of more than $1 billion and debt of $500 million to $1 billion in court documents filed today in Wilmington, Delaware.

Flying J expects to recover from “the precipitous drop in the price of oil” by reorganizing under Chapter 11 of the U.S. bankruptcy code, Chief Executive Officer J. Phillip Adams said in court papers.

The company employs about 16,000 people and is among the 20 biggest closely held companies in the U.S., with sales of more than $16.2 billion in 2007, according to court records. Founded in 1968 with four gasoline stations, it now operates 200 travel centers, two refineries and a 700-mile (1,126-kilometer) pipeline that carries gasoline and diesel from Houston to El Paso, Texas, according to court filings.

Flying J’s cash crisis has grown as oil prices have tumbled, Adams said in court documents. Since September, the company’s access to cash has dropped by $155 million.

Makes you kind of wonder how financially strong other oil refiners are?

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cyclist: Oil too low?

Submitted by Bonkers on Tue, 12/23/2008 - 4:54am.

What would that have to do with the guy's c-11?

He paid too much for crude and then couldn't sell his gas for enough?

Looks like a case of poor inventory judgement with no inventory price insurance, and bad management--with no credit available to bail him out!

Actually the government is the patsy here with this same subject. We have zillions of gallons of oil in the holes in the ground for emergencies. We let some of it go a few years back for good prices, trying to keep down scarcities, then bought it back off the market to refill the holes at very high prices.

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