GM will not pay off it's Government debt after all.

[RetiredGySgt]

Why "Government Motors" Still Owes You (GM)

As of right now the price of GM stock means that the Government would come out 12 BILLION dollars short on what it "loaned" to GM. And it does not matter, they have met the requirements of the loan agreement.

 

[boedicca]

And they still get to use all of the tax loss carryforwards to avoid paying taxes that should have been voided in bankruptcy proceedings.

Thanks Obama!

 

[Dugdale_Jukes]

Those rat bastards.

It is almost like the Bush League's unconditional charity to AIG/Goldman.

The only obvious differences are that GM is not believed to have willfully acted against the interests of the United States and (counting major suppliers) is directly responsible at street level for at least 100,000 more blue collar jobs than AIG.

Why would Obama favor an honest corporation over crooks? Maybe he isn't as much like Bush as he's looked for four years?

 

[Trajan]

Those rat bastards.

It is almost like the Bush League's unconditional charity to AIG/Goldman.

The only obvious differences are that GM is not believed to have willfully acted against the interests of the United States and (counting major suppliers) is directly responsible at street level for at least 100,000 more blue collar jobs than AIG.

Why would Obama favor an honest corporation over crooks? Maybe he isn't as much like Bush as he's looked for four years?

keep hopping...

"This morning, President-elect Obama asked President Bush to formally notify Congress, on his behalf, of his intent to exercise the authority... to access the last tranche of $350 billion in funding for Treasury programs addressing the financial crisis," White House spokeswoman Dana Perino said. "President Bush agreed to the President-elect's request."

Bush to Ask for TARP; Obama to 'Rebrand' It - ABC News

 

[Trajan]

Why "Government Motors" Still Owes You (GM)

As of right now the price of GM stock means that the Government would come out 12 BILLION dollars short on what it "loaned" to GM. And it does not matter, they have met the requirements of the loan agreement.

we had another thread on GM a week or so ago, I won't go over it all again, but GM is not doing well, a 7-11 has a higher gross margin than they do and I am willing to wager they will need another bailout within 3-5 years max.

The only reason GM is in biz right now, is to pay its legacy union pension costs and to keep the active members on a job....

 

[hortysir]

Why "Government Motors" Still Owes You (GM)

As of right now the price of GM stock means that the Government would come out 12 BILLION dollars short on what it "loaned" to GM. And it does not matter, they have met the requirements of the loan agreement.

[ame=http://www.youtube.com/watch?v=srw3RdiIlrQ]Shocked Face ...HA! (E-Trade baby) - YouTube[/ame]

 

[Dugdale_Jukes]

From your cite:

Obama asked President BUSH to formally notify Congress, on his behalf, of his intent to exercise the authority... to access the last tranche of $350 billion in funding for Treasury programs addressing the financial crisis
​

Thanks for identifying the sleazebag president whose Bush League policies hastened the crash, then in total disarray and panic reminiscent of his behavior when New York was attacked by Saudi Arabians mismanaged the financial crisis out of the can - turning an opportunity to clean out the system into a global nightmare, which for good measure put a numbnut like Obama in charge at a critical time.

The only pleasing aspects of the whole thing are that the people who voted for Bush in 2004 deserve every bit of ugliness that befell them and their families pursuant to the debacle of 2008 and that their 2004 vote is directly responsible for voters electing Obama.

 

[hortysir]

From your cite:

Obama asked President BUSH to formally notify Congress, on his behalf, of his intent to exercise the authority... to access the last tranche of $350 billion in funding for Treasury programs addressing the financial crisis
​

Thanks for identifying the sleazebag president whose Bush League policies hastened the crash, then in total disarray and panic reminiscent of his behavior when New York was attacked by Saudi Arabians mismanaged the financial crisis out of the can - turning an opportunity to clean out the system into a global nightmare, which for good measure put a numbnut like Obama in charge at a critical time.

The only pleasing aspects of the whole thing are that the people who voted for Bush in 2004 deserve every bit of ugliness that befell them and their families pursuant to the debacle of 2008 and that their 2004 vote is directly responsible for voters electing Obama.

You highlighted the wrong part....

to formally notify Congress, on his behalf, of his intent to exercise the authority