Gm bailout worked and worked.

[Trajan]

Yeah, you're right. And actually Carter and Congress didn't actually "bail them out". They merely guaranteed the loans.

My bad.

, oh so its only a guarantee now? .....dude....

Ya, unless you can show different,......DUDE?....... (what are you, 12?)

1979 Chrysler bailout

While some have said that Congress lent Chrysler the money, the government only guaranteed the loans.

Lee Iacocca - Wikipedia, the free encyclopedia

Who's 12?

I know, or knew exactly what it was and who did it, AND YOU, were only to happy to fire away with the bailout jazz when you thought you had Reagan on the hook, what are you? Full of contrived horse feathers, thats what.

 

[Trajan]

This thread rests upon the assumption that GM would not have emerged after filing for bankruptcy.

That's kinda like saying that the success of WWII "rests upon the assumption that Hitler would have admitted making a mistake and pulled all of his troops back home".

Coulda, woulda, shoulda. Hindsight is alweays 20/20. The bottom line is that the route we chose was an enourmous success. A win-win for everyone.

critical thinking and the never ending liberal counter intuitives have never been your friend.

 

[Robert_Stephens]

No matter how it was done, it worked and worked splendidly, thank goodness. And GM remains, a blessing en toto.....

Robert

 

[bigrebnc1775]

GM built a new plant in Mexico after they were bailed out.

 

[Valox]

No matter how it was done, it worked and worked splendidly, thank goodness. And GM remains, a blessing en toto.....

Robert

The only amazing thing is that people still buy that crap.

 

[Toddsterpatriot]

GM BAILOUT WORKED AND WORKED.

GM posts record profit 2 years after bankruptcy
By Chris Isidore@CNNMoneyFebruary 16, 2012:

The federal assistance probably saved about 1.5 million jobs, according to an estimate from the Center for Automotive Research, and prevented GM, Chrysler and many U.S. parts suppliers from being forced out of business, which would have been a huge blow for tax revenue. All the major U.S. automakers are again hiring, and further job gains are forecast in the coming years.

GM posts record earnings for 2011 - Feb. 16, 2012

GM workers receive record bonuses
Updated: Friday, 17 Feb 2012,

GM earned a record $7.6 billion in 2011. Despite the record profit, critics say we shouldn't forget that just a couple of years ago about $50 billion of taxpayer money was spent to save GM from bankruptcy. Nearly half of the money has been recovered.
Thursday they announced, 47,500 blue collar workers, many who took pay cuts because of the bailout, would be getting a $7,000 profit sharing check.

GM workers receive record bonuses | WIVB.com

G.E. made record 14.2 billion profit in 2010 and claimed a tax benefit of 3.2billion.
G.E. made record 14.2 billion profit in 2010 and claimed a tax benefit of 3.2billion. - Sherdog Mixed Martial Arts Forums

Many of the nation's preeminent companies have posted massive increases in profits this year. General Electric posted worldwide profits of $14.2 billion, while profits at JPMorgan Chase were up 47 percent to $4.8 billion.
Corporate Profits At All-Time High As Recovery Stumbles

How much does the Treasury need to recover for us to break even on the deal?

 

[candycorn]

Corporate Welfare is nothing to celebrate. Shame on you OWS/Democrat hypocrites.

There's a difference between saving a business that would have had a devastating impact on an already failing economy and bribing a business to relocate (or stay) in a particular city or state. Bribery adds or subtracts nothing to the nation as a whole, only local tax payers.

I'll take up the other side of the debate sort of--we agree on most things.

The self-defeating bullshit of the "devastating impact" argument--the argument is right by the way--is that okay, GM is profitable. Thats great. It's wonderful. The bailout worked!

But guess what, GM is STILL too big to fail. Eventually, it will again lose marketshare, produce cars nobody wants or too many of them anyway, etc... What is being done to prevent that from happening again? Nothing. Nor is it being done with the banks which have only gotten bigger.

If we're going to have this remedy, we need to make the chances of having to swallow that tough pill very remote. But it's a pill we have to swallow when necessary.

Let's make it less necessary.

 

[Listening]

Of course it worked.

The original stockholders got hosed and GM was reorganized without being reorganized.

President Obama now has tons of union votes and the rest of us got screwed.

The government didn't bail everyone out so they should not have bailed anyone out.

Given the chance to tell Obama/Biden what a bad idea it was...I'd be happy to do so.

Joe Stalin was a success to some.

 

[Listening]

This thread rests upon the assumption that GM would not have emerged after filing for bankruptcy.

Absolutely....

Given the chance to shed it's overstuffed pensions...it would have done quite well.

Has anyone mentioned that the people who now go to work for GM make about half of what their older members make under the new two tier pay system.

Wow...a market response !! Now they make less than the non union types in the south.

That's how the market works.

I would have happened had the bailout not occured. But GM could have shed some pension burdens too.

BTW: Their cars still suck. Always have.

 

[candycorn]

Of course it worked.

The original stockholders got hosed and GM was reorganized without being reorganized.

President Obama now has tons of union votes and the rest of us got screwed.

The government didn't bail everyone out so they should not have bailed anyone out.

Given the chance to tell Obama/Biden what a bad idea it was...I'd be happy to do so.

Joe Stalin was a success to some.

It was a success and Obama is getting the credit. Thats gotta suck.

 

[Listening]

Of course it worked.

The original stockholders got hosed and GM was reorganized without being reorganized.

President Obama now has tons of union votes and the rest of us got screwed.

The government didn't bail everyone out so they should not have bailed anyone out.

Given the chance to tell Obama/Biden what a bad idea it was...I'd be happy to do so.

Joe Stalin was a success to some.

It was a success and Obama is getting the credit. Thats gotta suck.

I think I said that....

He has locked up tons of union votes. He's going to need them.

But the small guys who didn't get bailed out (and I know a few) see it a different way.

Obama picking winners and losers (well mostly losers).

That's what we need in a government.

 

[Crackerjack]

Of course it worked.

The original stockholders got hosed and GM was reorganized without being reorganized.

President Obama now has tons of union votes and the rest of us got screwed.

The government didn't bail everyone out so they should not have bailed anyone out.

Given the chance to tell Obama/Biden what a bad idea it was...I'd be happy to do so.

Joe Stalin was a success to some.

Yup. That tried and true Chapter 11 would have put those union contracts in serious jeopardy. Can't have that now, can we?

 

[Listening]

Of course it worked.

The original stockholders got hosed and GM was reorganized without being reorganized.

President Obama now has tons of union votes and the rest of us got screwed.

The government didn't bail everyone out so they should not have bailed anyone out.

Given the chance to tell Obama/Biden what a bad idea it was...I'd be happy to do so.

Joe Stalin was a success to some.

Yup. That tried and true Chapter 11 would have put those union contracts in serious jeopardy. Can't have that now, can we?

Correctomundo....

Not only that....but it might have also got them to produce cars that are worth owning.