Dubya
Senior Member
- Dec 29, 2012
- 3,056
- 59
- 48
Dick Cheney and Karl Rove are laughing their asses off.
It would take a lifetime of laughter to get rid of that much ass.
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Dick Cheney and Karl Rove are laughing their asses off.
I lost all hope for Obama after he threw Osama Bin Laden in the ocean.
Soldier: We just killed Osama Bin Laden, sir.
Obama: Quick, throw him in the ocean.
His blatant lies about Benghazi sealed the deal.
Fact #1: GMAC is an entirely different corporation than GM.
Fact #2: The bailout money and TARP money are exactly the same thing. TARP is just the name of the so-called bailout program
Troubled Asset Relief Program - Wikipedia, the free encyclopedia
Fact #3: The Treasury was owed $49.5 billion ($13.4 billion from Bush and $36.1 billion from Obama). The Treasury was repaid $6.7 billion in loan repayments, $2.1 billion in a Preferred Stock Repurchase, $0.8 billion in interest and dividends and it had 912 million shares of GM common stock which was reduced to 500 million shares to get the Net IPO Proceeds of $13.5 billion. That means the stock was sold at $32.77 per share. The current price of GM stock is $28.17, so I don't know where you get your numbers. That would be valued at $14.085 billion on today's market or probably about 50% more than that if someone tried to buy a controlling interest in the GM corporation at one shot. However on 12/21/12, the Treasury sold 200 million shares of GM stock.
General Motors | Eye on the Bailout | ProPublica
A total of about $26.4 billion of the TARP GM money wasn't returned, until that recent sale reduced it to around $20.9 billion and 300 million shares.
Fact #4: The amount of revenue the federal government received for bailing out GM is estimated at over $90 billion.
It may be in the interest of the right-wing to allow hugh corporations to fail and they certainly know how to make an economy do it, but it isn't in the interest of the federal government and the American people. The far right-wing position is part of the "Starve the Beast" strategy of intentionally destroying the American economy, while the elite buy up assets at cheap prices. Having a failed economy has been the direction of the Republican Party since the days of the Clinton surpluses.
If you want success navigating the economic highway, ask the Republicans for directions and do the exact opposite. Sure they know business and that's why they are so good at fucking it up!
What's your source for fact #4?
It's a study by some outfit that watches the auto industry and has initials similar to CAR. I'll have to find it, but if you are so interested in the subject of the bailouts, start a damned thread in the economics forum and allow the person who started a thread on his subject to not have his thread hijacked by this tangent. It's just common sense that all those high paying jobs add up in tax revenue and the auto industry involves more than auto assembly plants like GM. Don't kid yourself into think GM is an American automobile producer, it's an international corporation. GMAC wasn't just making car loans, it was heavy into finance and lost it's shirt in those housing ABS or MBS bonds, like the investment banks and banks did. GMAC was involved in all kinds of finance, like student loans and you name it.
What's your source for fact #4?
It's a study by some outfit that watches the auto industry and has initials similar to CAR. I'll have to find it, but if you are so interested in the subject of the bailouts, start a damned thread in the economics forum and allow the person who started a thread on his subject to not have his thread hijacked by this tangent. It's just common sense that all those high paying jobs add up in tax revenue and the auto industry involves more than auto assembly plants like GM. Don't kid yourself into think GM is an American automobile producer, it's an international corporation. GMAC wasn't just making car loans, it was heavy into finance and lost it's shirt in those housing ABS or MBS bonds, like the investment banks and banks did. GMAC was involved in all kinds of finance, like student loans and you name it.
All you had to do was provide a link. No need to be rude or threadmother. I gave reasons for my opinion as asked by the OP and then you came along with the tangent.
Link to the thread in Economics:
http://www.usmessageboard.com/economy/276489-the-gm-bailout-was-it-worth-it.html#post6759334
SECTION 5: TOTAL ESTIMATED TAX CONTRIBUTION
After estimating the tax revenue provided by the automotive industry across a variety of sources, CAR researchers have calculated that the tax revenue contribution of the automotive sector in 2010 was at least $91.5 billion in state government tax revenue and $43 billion in federal government tax revenue.
It's a study by some outfit that watches the auto industry and has initials similar to CAR. I'll have to find it, but if you are so interested in the subject of the bailouts, start a damned thread in the economics forum and allow the person who started a thread on his subject to not have his thread hijacked by this tangent. It's just common sense that all those high paying jobs add up in tax revenue and the auto industry involves more than auto assembly plants like GM. Don't kid yourself into think GM is an American automobile producer, it's an international corporation. GMAC wasn't just making car loans, it was heavy into finance and lost it's shirt in those housing ABS or MBS bonds, like the investment banks and banks did. GMAC was involved in all kinds of finance, like student loans and you name it.
All you had to do was provide a link. No need to be rude or threadmother. I gave reasons for my opinion as asked by the OP and then you came along with the tangent.
Link to the thread in Economics:
http://www.usmessageboard.com/economy/276489-the-gm-bailout-was-it-worth-it.html#post6759334
SECTION 5: TOTAL ESTIMATED TAX CONTRIBUTION
After estimating the tax revenue provided by the automotive industry across a variety of sources, CAR researchers have calculated that the tax revenue contribution of the automotive sector in 2010 was at least $91.5 billion in state government tax revenue and $43 billion in federal government tax revenue.
Source: http://www.cargroup.org/assets/files/final_tax_revenues_apr_2012_v3.pdf
Source for the source: http://www.usmessageboard.com/economy/276489-the-gm-bailout-was-it-worth-it.html#post6759334
Read it carefully! It was really hard to find, because it was located in the OP of your thread.
Why wouldn't GM have contributed more than $90 billion to the federal government's revenue since the bailout began in 2008? An automobile is a bunch of parts that GM assembles, but who is making those parts?
Dick Cheney and Karl Rove are laughing their asses off.
It would take a lifetime of laughter to get rid of that much ass.
emotional response w/o links? Try harderI lost all hope for Obama after he threw Osama Bin Laden in the ocean.
Soldier: We just killed Osama Bin Laden, sir.
Obama: Quick, throw him in the ocean.
His blatant lies about Benghazi sealed the deal.
Dick Cheney and Karl Rove are laughing their asses off.
It would take a lifetime of laughter to get rid of that much ass.
Life is short, and teasing libs by only typing the words 'Rove' or 'Cheney' is just too funny to pass up.
emotional response w/o links? Try harderI lost all hope for Obama after he threw Osama Bin Laden in the ocean.
Soldier: We just killed Osama Bin Laden, sir.
Obama: Quick, throw him in the ocean.
His blatant lies about Benghazi sealed the deal.
It would take a lifetime of laughter to get rid of that much ass.
Life is short, and teasing libs by only typing the words 'Rove' or 'Cheney' is just too funny to pass up.
you, no doubt, voted for them BOTH times. Don't answer because i already know sport.
Clearly, this is directed to The Republicans and self-proclaimed Conservatives of USMB.
When, exactly, did you realize that you really didn't like Obama and were going to be against him no matter what?
I'll answer the question in the reverse as an example. Some years ago, when Bush was first elected, I disliked him. I didn't like what he stood for, didn't like what he said, I didn't even like the way he sounded, he sounds dumb and he's proven himself to be such. Anyway, I wasn't totally or automatically against him. What turned me against him permanently, was what he did with the good will of The American People after the country was attacked.
He lied about the WMDs, he kept the country in state of constant fear, and he waged two unnecessary wars. To top it off, he didn't pay for it at the time and sent the bill to our kids and grandkids.
To be precise, from the instant he began that fear campaign war campaign, he lost me forever. I will NEVER forgive him for that.
So, when did you Republicans, Conservatives and other assorted RWers of USMB decide to be against Obama no matter what?
C'mon, be honest.
I'm still waiting for him to do something i can support him on.
Till then I'm against the direction he's taking us.
"There is a direct lineage from the thinly veiled racism directed toward President Barack Obama today and Nixon’s coded appeals to unreconstructed white segregationists in the South four-plus decades ago – and between Republican efforts at election rigging now and Nixon’s gaming the system through the sabotage of President Lyndon Johnson’s Vietnam peace talks in 1968 and the Watergate chicanery in 1972.
Simply put, some of the ugliest tactics of the modern Republican Party can be traced to Richard Nixon. Indeed, he could be viewed as providing the DNA for today’s GOP operatives who make quasi-racist appeals to white Southerners and who seek to suppress the votes of blacks and other minorities."
All you had to do was provide a link. No need to be rude or threadmother. I gave reasons for my opinion as asked by the OP and then you came along with the tangent.
Link to the thread in Economics:
http://www.usmessageboard.com/economy/276489-the-gm-bailout-was-it-worth-it.html#post6759334
SECTION 5: TOTAL ESTIMATED TAX CONTRIBUTION
After estimating the tax revenue provided by the automotive industry across a variety of sources, CAR researchers have calculated that the tax revenue contribution of the automotive sector in 2010 was at least $91.5 billion in state government tax revenue and $43 billion in federal government tax revenue.
Source: http://www.cargroup.org/assets/files/final_tax_revenues_apr_2012_v3.pdf
Source for the source: http://www.usmessageboard.com/economy/276489-the-gm-bailout-was-it-worth-it.html#post6759334
Read it carefully! It was really hard to find, because it was located in the OP of your thread.
Why wouldn't GM have contributed more than $90 billion to the federal government's revenue since the bailout began in 2008? An automobile is a bunch of parts that GM assembles, but who is making those parts?
Why are you discussing this here? You admonished me for threadjacking (when actually you did) and then commanded me to "start a damned thread in the economics forum," to discuss GM. I did, and even found the source you couldn't bother to find.
What gives?