Obama and the Dems bailed out GM, a company that had been heading for the scrap heap due to its poor management for 20 years. The bailout was illegal and stole $40B from private bond holders (thats people with 401k and other retirement plans that owned GM stock). The bailout was one big favor to the UAW in return for decades of union support. I will never buy a car from GM. Ever.
GM is't outsourcing anything. They never have shipped cars to China. They have always built them there. They are selling so well, they need a bigger factory.
You guys are idiots. Support what they make and they are making good cars now and there is no need to give them another dime. Boycott them and we have just thrown over forty billion dollars away and hurt thousands of jobs not only in the auto business, but those companies that depend on it. I sure thought Republicans were smarter than what you people have shown.
Under bankruptsy they would have lost anyway. They were given a chance to take so much on the dollar for their stock and turned it down. I want to see all of you boycott every company we have helped out. I listen them for you. Boycott the banks, airlines, savings and loans, the railroad, NYC, the states that got bailed out along with the cities. Show me your willing to treat them the same.
What about this don't you get? GM is once again the largest selling car company in the world. If we support it and their stock goes back up to what it was 8 years ago, the government can sell their stock they hold in GM and not only get back every penny, but make a profit on it.
And as the government continues to bail out every 'too-big-to-fail corporation...others realize more and more that they can do anything they want (short of illegal activities). They can take gigantic chances, blow huge sums of money, risk shareholder's money by the truck load...because they know that the government will just keep bailing them out...all at taxpayers expense. So the rich get richer....all funded by the middle/lowers class. Meanwhile, all the not too-big-to-fail companies have no such safety nets. They will forever be held to an unfair disadvantage as they watch their bigger competitors make stupid mistakes knowing the taxpayers will bail them out...just like they did AIG, Chrysler and GM. And btw, the government long ago admitted that they will probably never fully recoup their losses on GM as there was over $13 billion in assistance that the govnment simply gave GM to prop it up before their re-organization. Money that was never expected to be given back. Free enterprise is dying in America...slowly...but it's dying.
GM originally listed on the NYSE back in 1916. Through its roughly 100-year history, the storied automaker had its ups and downs like every other business. But the buffoon management of the early 2000s ruined the company. Unlike Ford, which prepared for and weathered the downturn in the economy, GM lost over $80.0 billion between 2006 and 2008. When GM came calling on Washington, the same administration that let Lehman Brothers fail (and that witnessed the credit market freeze after the Lehman failure) was concerned that GM was too big to fail. I liked GMs argument at the time: if GM failed, not only would over 200,000 jobs be lost right at GM, but other car-makers like Ford would go under, because GM would put the same part suppliers that feed both GM and Ford out of business. Ford even wanted the government to bail out GM! So, the government invested about $50.0 billion in GM. When the company went public (again) yesterday, GM sold $20.0 billion of stock in the second largest IPO in American history. The offering valued GM at just under eight times 2010s earnings. The U.S. Treasury got back about $14.0 billion of its money. But if my calculations are right, unless GM stock goes up 75% to 80%, the government will lose money on its investment in GM.
I see you're copy and pasting unattributed handouts from Big Leftist .org again. Why don't you link and attribute these to the place they came from? Because they all come from some Tides Foundation funded site. How long have you worked for George Soros?
The government bailed out companies that would have a huge impact on the economy and security of the country. There are hundreds of companies that went under and are about to go under the government hasn't and won't bail out. Mongomery Ward is one. Kodak is another. So is Border s book stores. It looks like soon we will lose K-Mart and Sears. JC Penney is in trouble. You won't see the government bail any of them out.
That in the red is the biggest lie ever. No person that really thinks could ever support any of the bailouts you listed except the ones that paid for acts of war damage. We still have to pour billions a year to keep Amtrak running. Your lies are fail.
Yea got me thinking, Hitler had the Bug and Obama has the Volt. Unlike the Bug that is still being made the Volt is done for with no sales they can only make them so long before the sky falls down on it, no matter how much Obama might want to keep funding it as soon as that goes away the Volt is finish. So Hilter I believe has one up on Obama, its hard to beat the Bug and its history. So Obama looses this one.
Isn't Amtrak part of the government now. If you think no one could support any of those bailouts your crazy. We need the airlines and railroad. We need the auto industry. We needed the banks and savings and loan companies so people could borrow money to buy homes, cars appliances and etc to keep this economy running. The government felt they couldn't let Lockheed go belly up because of the weapons programs they were building for the government.
You've been proven wrong dozens of times and you keep posting the same deflections and lies to cover up the fact.
Here is where your lies become stupid. We are talking about getting rid of the VOLT. It's a friggin waste of our money. Why do you insist that a money losing dog like the Volt is saving GM? You lie and lie some more.
will it be a waste of money when gas hits $5-6 a gallon this summer. try to remeber the straw that broke GM's back. $4.25 a gallon gas when it's hot seller was the GMT900...what's GM hot seller now? the GMT900.
Shove your personal insults up your ass. This is not capitalism It never was and it was theft from the people that owned GM and it was theft from the taxpayer. Answer me this one that ALL of you lefties keep ignoring. WHY does the UAW still have a $1 billion dollar strike fund that went untouched while we were paying out 40 billion? where is their contribution? Until you answer that you are nothing but a propagandist.
It will always be a waste of our money. Your straw argument is bogus. You people are creating this inflated gas price to push your agenda. It's obvious. The idea that drilling won't produce results for 3 years means that Obummer failed to start drilling when he took office and now we are suffering the consequences. Fail.
my only agenda is keeping Flint Truck Assembly open. gas will go up when demand goes up/speculation on supply goes down, and down when demand goes down/speculation on supply goes up. domestic production would be fine by me. it would be a more secure supply and Uncle Sam would get his 17% royalty (one of the lowest in the world). until common folks get the word out to do it, it's not going to happen.
And there you go. The underlying reason for the bailouts. Government control. Once it was an independent railroad, now it's a gubmint subsidized boondoggle. Stalin would be proud. They deliberately set up this failure through Fannie Mae and Freddie Mac and the Community Reinvestment Act the deliberate increase in oil prices by keeping us dependent on foreign oil. They set it up by making GM acceed to the unions demands for unrealistic benefits through government enforced "arbitration" through the NLRB. You support all of that and it's why you could never be any kind of conservative or even a real Republican. It's a conspiracy on a grand scale to force a government run centralized economy. There's your answer commie.
He already ducked my question about socialism and bailing out all companies to avoid "hurting people" His silence is your answer.
