US swallowed $9.7 billion loss on General Motors bailout

[JoeB131]

Let's talk about the real reason wingnuts hate the GM Bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "Socialist" countries like Germany and Japan, and had to go hat in hand to the mean old Gummit, that was a serious blow.

 

[Claudette]

Praise be Obama, he saved GM!

Yaaaay! Obama rewarded a company that grossly mismanaged itself and grossly fucked up its business model and made predatory loans to American consumers! Yaaaaaaaayyyy!!!

Obama loves corporations so much that he wants to bail out even the evil ones.

Oh, wait. Just the one percenters that donate to Democrats. Let's not be hasty!

Stockholders in GM lost practically everything. Bond holders lost most of their investment. The CEO and Chairman of the board lost their job in the following year. Top management went through a reorganization. I wouldn't consider that a reward.

Sure they did. Anyone who had 401K's and retirement money in GM got hosed.

That didn't bother Barry one bit. Anything to save those Union pension funds.

The taxpayers will continue to be losers until all the money they used to save GM and Chrysler is payed back.

Ain't holdin my breath.

 

[billyerock1991]

GM is not Detroit and vice versa.

We also are footing the $24 Billion bill from the GOP temper tantrum that shut down the government...

I've yet to see any actual proof on this...you gotta a link?

it has nothing to do with the borrowed money .... it has to do with the stock that the US invested in ... it seems the are going to sell it below the marked value they bought it for... that's not GM's fault that's, the US governments premature ejaculation ... maybe they should extends the sale

 

[JoeB131]

Yaaaay! Obama rewarded a company that grossly mismanaged itself and grossly fucked up its business model and made predatory loans to American consumers! Yaaaaaaaayyyy!!!

Obama loves corporations so much that he wants to bail out even the evil ones.

Oh, wait. Just the one percenters that donate to Democrats. Let's not be hasty!

Stockholders in GM lost practically everything. Bond holders lost most of their investment. The CEO and Chairman of the board lost their job in the following year. Top management went through a reorganization. I wouldn't consider that a reward.

Sure they did. Anyone who had 401K's and retirement money in GM got hosed.

That didn't bother Barry one bit. Anything to save those Union pension funds.

The taxpayers will continue to be losers until all the money they used to save GM and Chrysler is payed back.

Ain't holdin my breath.

I'm not in a union, but I'm damned happy they did that. Probably saved my job at the time, where the company I worked for supplied parts to GM. Now, I've moved on to other duties since then, but the fact that Obama Saved GM also meant that they saved jobs at hundreds of other companies that simply provide parts and services.

It was definitely a win for the taxpayers in that they continued to make enough to PAY taxes.

Bush and Obama both deserve praise for putting the good of the country above empty partisan rhetoric.

 

[daveman]

It was a success, your inane denial notwithstanding.

So, losing $9.7 billion dollars on an investment is a success to you.

Remind me not to take any investment advice from progressives. They SUCK at it.

Iraq cost 12 billion a month and you think that was a good investment.

Not really. I did think, however, it was necessary.

Unlike progressive morons and their vacuous bumper stickers and protest signs, I never believed the war was for oil, and that we'd have supertankers lined up to offload Iraqi crude.

Let me guess: You believed it was for oil, didn't you?

 

[daveman]

[

Now, if we were really smart, we'd actually do that the Japanese and Germans do, and treat our auto industry as a national resource.

Spoken like a true Communist.

Germany and Japan are Communist? Really?

Hey, guy, here's what the Japanese and Germans do.

They have strong unions. In fact, the unions have a say in who the CEO is at Nissan or Volkswagen.

Goverment takes care of health care, so that's not an issue.

They invest properly in education. Which means they don't have "I got mine, fuck you poor people", but everyone gets the same quality of education. Therefore they produce better engineers and make smarter cars.

Yeah, bunch of stinking communists making us look bad by doing it right!

Typical Commie reaction:

Nationalize every damn thing.

Yes, we need car companies that work just as well as the Obamacare website.

 

[daveman]

Let's talk about the real reason wingnuts hate the GM Bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "Socialist" countries like Germany and Japan, and had to go hat in hand to the mean old Gummit, that was a serious blow.

Why do you think that guys in suits who work for the government know what's best for us?

 

[JoeB131]

So, losing $9.7 billion dollars on an investment is a success to you.

Remind me not to take any investment advice from progressives. They SUCK at it.

Iraq cost 12 billion a month and you think that was a good investment.

Not really. I did think, however, it was necessary.

Unlike progressive morons and their vacuous bumper stickers and protest signs, I never believed the war was for oil, and that we'd have supertankers lined up to offload Iraqi crude.

Let me guess: You believed it was for oil, didn't you?

I thought it was because Baby Bush was upset Saddam tried to whack Pappy Bush.

But what it wasn't about.

It wasn't about Weapons of Mass Destruction, because Saddam didn't have those.

It wasn't about links to Al Qaeda, because Saddam didn't have those, either.

But let's get this straight. We pissed away 12 BILLION a month in order to get rid of Saddam, we've ended up replacing him with a Shi'ite dictatorship that is allied with teh Iranians.

Mahmoud can walk down the streets of Baghdad to cheering crowds while Bush has to sneak in during the middle of the night and hope no one throws shoes at him.

But in Dave-Land, this is money well spent. Even though it did nothing to enhance our safety. Not to mention costing us 5000 lives.

but a bailout that saved millions of jobs? HORRIBLE!

 

[JoeB131]

Let's talk about the real reason wingnuts hate the GM Bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "Socialist" countries like Germany and Japan, and had to go hat in hand to the mean old Gummit, that was a serious blow.

Why do you think that guys in suits who work for the government know what's best for us?

I see government as kind of like an evil genie... they give us exactly what we wish for.

We just need to be careful what we wish for.

 

[JoeB131]

[

Spoken like a true Communist.

Germany and Japan are Communist? Really?

Hey, guy, here's what the Japanese and Germans do.

They have strong unions. In fact, the unions have a say in who the CEO is at Nissan or Volkswagen.

Goverment takes care of health care, so that's not an issue.

They invest properly in education. Which means they don't have "I got mine, fuck you poor people", but everyone gets the same quality of education. Therefore they produce better engineers and make smarter cars.

Yeah, bunch of stinking communists making us look bad by doing it right!

Typical Commie reaction:

Nationalize every damn thing.

Yes, we need car companies that work just as well as the Obamacare website.

Again, compared to the various clusterfucks in the private sector like X-Box or the new Apple glitches? but that's okay, that's private sector.

Guy, you do get that the Germans And Japanese treat their car companies as a national resource, and as a result, get far better results than we do, right?

I really do find it hilarious that someone who spent much of his life sucking off the government teet spends so much time bitching about government.

 

[Claudette]

Stockholders in GM lost practically everything. Bond holders lost most of their investment. The CEO and Chairman of the board lost their job in the following year. Top management went through a reorganization. I wouldn't consider that a reward.

Sure they did. Anyone who had 401K's and retirement money in GM got hosed.

That didn't bother Barry one bit. Anything to save those Union pension funds.

The taxpayers will continue to be losers until all the money they used to save GM and Chrysler is payed back.

Ain't holdin my breath.

I'm not in a union, but I'm damned happy they did that. Probably saved my job at the time, where the company I worked for supplied parts to GM. Now, I've moved on to other duties since then, but the fact that Obama Saved GM also meant that they saved jobs at hundreds of other companies that simply provide parts and services.

It was definitely a win for the taxpayers in that they continued to make enough to PAY taxes.

Bush and Obama both deserve praise for putting the good of the country above empty partisan rhetoric.

Of course you are glad GM got bailed out and you obviously could give shit one about the people who got hosed to save your job.

Who cares about their 401K's and retirement money?? They got hosed but your job got saved.

Typical.

 

[JoeB131]

[

Of course you are glad GM got bailed out and you obviously could give shit one about the people who got hosed to save your job.

Who cares about their 401K's and retirement money?? They got hosed but your job got saved.

Typical.

Um, exactly how would have their 401K's been saved if GM went out of business, exactly?

Sorry, saving people's investments would not have saved GM. Saving GM meant keeping people employed and keeping products being made.

Not protecting someone's bad investment decisions.

Investors- Parasites that have convinced stupid people they are vital organs.

 

[JoeB131]

As a point- GM has been in trouble for DECADES. It's not like the investor parasites didn't know they were taking a risk.

First thing you do to save a patient... expunge the parasites.

 

[Claudette]

They were the parasites.

Got it.

 

[JoeB131]

They were the parasites.

Got it.

Probably not...

Okay, try to make this simple for you because you are k ind of slow.

GM was bankrupt. The Investors had worthless paper. The government said, "We'll give them an infusion in cash, but the only way we get that back is to make sure the production lines keep running." and they paid them off, penny's on the dollar, but hey, you gamble, you take the chance of losing.

 

[OODA_Loop]

let's talk about the real reason wingnuts hate the gm bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "socialist" countries like germany and japan, and had to go hat in hand to the mean old gummit, that was a serious blow.

ford

 

[NYcarbineer]

So, losing $9.7 billion dollars on an investment is a success to you.

Remind me not to take any investment advice from progressives. They SUCK at it.

Iraq cost 12 billion a month and you think that was a good investment.

Not really. I did think, however, it was necessary.

Unlike progressive morons and their vacuous bumper stickers and protest signs, I never believed the war was for oil, and that we'd have supertankers lined up to offload Iraqi crude.

Let me guess: You believed it was for oil, didn't you?

The Iraq war began in 1991, and George Bush Sr. declared it to be 'for oil':

From his 1990 speech to Congress, his justification for deciding we needed to intervene in the Iraq/Kuwait conflict:

Vital economic interests are at risk as well. Iraq itself controls some 10 percent of the world's proven oil reserves. Iraq plus Kuwait controls twice that. An Iraq permitted to swallow Kuwait would have the economic and military power, as well as the arrogance, to intimidate and coerce its neighbors -- neighbors who control the lion's share of the world's remaining oil reserves. We cannot permit a resource so vital to be dominated by one so ruthless. And we won't.

If you don't think Iraq was a war for oil, then argue with Bush Sr. and everyone who at the time agreed with him.

George Bush Presidential Library and Museum :: Public Papers - 1990 - September

 

[NYcarbineer]

let's talk about the real reason wingnuts hate the gm bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "socialist" countries like germany and japan, and had to go hat in hand to the mean old gummit, that was a serious blow.

ford

Ford's CEO endorsed the bailout.

 

[JoeB131]

let's talk about the real reason wingnuts hate the gm bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "socialist" countries like germany and japan, and had to go hat in hand to the mean old gummit, that was a serious blow.

ford

Fix Or Repair Daily?

Found On Road Dead?

 

[OODA_Loop]

let's talk about the real reason wingnuts hate the gm bailout.

Because they truly, really believe that guys in expensive suits know what's best for us. And when they got their asses handed to them by car companies in "socialist" countries like germany and japan, and had to go hat in hand to the mean old gummit, that was a serious blow.

ford

Ford's CEO endorsed the bailout.

Of course....look at their sales because of it.