GM, OBAMA, The Chickens are coming home to roost

[JRK]

The closer we get to 2012, the more the truth will be coming out

There are parallels in recent events. The Obama administration no more deserves credit for the US auto industry’s rejuvenation than it deserves credit for finding Osama bin Laden. That work was initiated and done on President George W. Bush’s watch, and it continued because Obama kept Bush’s team largely in place.



Obama has blamed Bush for everything bad that happened (as a result of Obama’s miscues) in the first two years of his term, so how about giving Bush credit for having the right foreign policy and the appropriate interrogation/intelligence gathering process, leading to finding the most wanted man of all—Osama bin Laden.



Fat chance of that. President Obama uses the word “I” more than all of the past dozen Presidents combined. Too bad he won’t say “I can’t take credit for that. It was started—and finished—by someone else.” But then narcissists can never do that. The American government bailout was a $50B mistake created by decades of greedy unions, gutless/clueless management and abetted by gullible, misguided government—led by the Pretender in Chief, Barack Obama–throwing American taxpayers money at the problem. When will Americans recognize these kind of mistakes?
GM: Gutless Management + Greedy Unions + Gullible Government = $50 Billion Bailout Cost to American Taxpayers - Prosper Now - - Forbes

Govt to lose $14B of auto bailout funds
(wink wink, thats not even close)
Govt to lose $14B of auto bailout funds - Yahoo! News

Reuters – U.S. President Barack Obama speaks during Memorial Day ceremonies at Arlington Cemetery in Arlington, …
Slideshowresident Barack Obama

WASHINGTON – The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry.

 

[WillowTree]

Unions izzzzz expensive

 

[JRK]

Unions izzzzz expensive

Wow you have allot of respect a it goes with your ranking
not much response
I am not sure why
I really seen this event as the event that puts us as a pure socialist country
Hmmm

 

[CrusaderFrank]

When things go wrong Obama says,"I blame Bush"

 

[Avorysuds]

In understand the post but I also don't think Bush did much of anything right... Torture = bad and bail-outs = bad even when Bush did them.

I felt nothing when OBL was killed because it means nothing. OBL set a trap and the US continues to be ensnared in that trap even after his death.

 

[JRK]

In understand the post but I also don't think Bush did much of anything right... Torture = bad and bail-outs = bad even when Bush did them.

I felt nothing when OBL was killed because it means nothing. OBL set a trap and the US continues to be ensnared in that trap even after his death.

you have a right to your opinion
without tarp, god knows where we would be
If you get a chance to watch the HDO documentary, as left leaning as they are, it is clear tarp saved this country from a very serious crash
do your own DD and its clear either way

also GWB did nothing to create these events, very little at best

Was TARP a Success?
Damien Hoffman: Dan, mainstream America thinks TARP was a major failure. Was it?
Daniel Gross: No. First, the intention of TARP was to save the American banking and financial system from collapse. We forget what was going on in the fall of 2008, and how even the most highly rated and best capitalized banks were having difficulty funding themselves.
In essence, we didn’t have a banking system in the fall of 2008. The injection of cash into banks helped stop the panic. It didn’t stop most of the really poorly managed banks from failing – there have been a few hundred bank failures in the last couple of years. But it did help stop the panic and stopped the largest banks, especially Citi (C) and Bank of America (BAC), from going down.

 

[Avorysuds]

In understand the post but I also don't think Bush did much of anything right... Torture = bad and bail-outs = bad even when Bush did them.

I felt nothing when OBL was killed because it means nothing. OBL set a trap and the US continues to be ensnared in that trap even after his death.

you have a right to your opinion
without tarp, god knows where we would be
If you get a chance to watch the HDO documentary, as left leaning as they are, it is clear tarp saved this country from a very serious crash
do your own DD and its clear either way

also GWB did nothing to create these events, very little at best

Was TARP a Success?
Damien Hoffman: Dan, mainstream America thinks TARP was a major failure. Was it?
Daniel Gross: No. First, the intention of TARP was to save the American banking and financial system from collapse. We forget what was going on in the fall of 2008, and how even the most highly rated and best capitalized banks were having difficulty funding themselves.
In essence, we didn’t have a banking system in the fall of 2008. The injection of cash into banks helped stop the panic. It didn’t stop most of the really poorly managed banks from failing – there have been a few hundred bank failures in the last couple of years. But it did help stop the panic and stopped the largest banks, especially Citi (C) and Bank of America (BAC), from going down.

It's all nothing but opinion about where we would be without the bail-outs, I honestly don't care what someone thinks as it was the wrong thing to do and as you said "god only knows." With that game no politician can ever do wrong, Obama failed miserably at ending a recession but "god only knows" that if he didn't do the stimulus we would be in a depression.

We should have let all the banks fail. Where is my bail out? I want 40 billion to invest and make me rich as fuck.

 

[BlindBoo]

How can that be? I thought the Marxist Dictator took over GM.

Auto bailout: U.S. taxpayers may lose $14B - UPI.com

Course it all depends on how much they sell the taxpayers shares for doesn't it?

 

[JRK]

How can that be? I thought the Marxist Dictator took over GM.

Auto bailout: U.S. taxpayers may lose $14B - UPI.com

Course it all depends on how much they sell the taxpayers shares for doesn't it?

Blind I do not think so
in fact
Treasury gets $11.7 billion from GM stock sale - AutoSpies Auto News
according to the treasury we have only got 11.7 billion to date
according to the treasury they owe us about 71 billion
50 original GM: Gutless Management + Greedy Unions + Gullible Government = $50 Billion Bailout Cost to American Taxpayers - Prosper Now - - Forbes
he latest round of federal aid going to the financial institution GMAC brings the grand total to $16.3 billion, including the $12.5 billion it has already received since December 2008. Prior to today’s announcement, the federal government had a 35 percent stake in GMAC, and it will now have a 56 percent controlling interest in GMAC.
that puts it at 66 billion
GMAC to receive another $3.8 billion in federal money
and the original pay-back was done with tarp money, that was 6 billion
So how has GM, which lost $38 billion in 2007 even as it sold 9.4 million cars, paid back its debt? It took money from the escrow account to pay back the $6.7 billion loan.
Do you remember when you were a kid and your parents gave you $20 to buy them a Christmas present? You bought them something worth $3 and pocketed the rest? That’s what GM has just done.
Oh, and do you remember when you hit your parents up for college? GM has applied for a $10 billion, low-interest loan from the government to modernize its plants so its cars will meet new federal mileage standards.
GM Bailout Payback Lie

 

[JRK]

In understand the post but I also don't think Bush did much of anything right... Torture = bad and bail-outs = bad even when Bush did them.

I felt nothing when OBL was killed because it means nothing. OBL set a trap and the US continues to be ensnared in that trap even after his death.

you have a right to your opinion
without tarp, god knows where we would be
If you get a chance to watch the HDO documentary, as left leaning as they are, it is clear tarp saved this country from a very serious crash
do your own DD and its clear either way

also GWB did nothing to create these events, very little at best

Was TARP a Success?
Damien Hoffman: Dan, mainstream America thinks TARP was a major failure. Was it?
Daniel Gross: No. First, the intention of TARP was to save the American banking and financial system from collapse. We forget what was going on in the fall of 2008, and how even the most highly rated and best capitalized banks were having difficulty funding themselves.
In essence, we didn’t have a banking system in the fall of 2008. The injection of cash into banks helped stop the panic. It didn’t stop most of the really poorly managed banks from failing – there have been a few hundred bank failures in the last couple of years. But it did help stop the panic and stopped the largest banks, especially Citi (C) and Bank of America (BAC), from going down.

It's all nothing but opinion about where we would be without the bail-outs, I honestly don't care what someone thinks as it was the wrong thing to do and as you said "god only knows." With that game no politician can ever do wrong, Obama failed miserably at ending a recession but "god only knows" that if he didn't do the stimulus we would be in a depression.

We should have let all the banks fail. Where is my bail out? I want 40 billion to invest and make me rich as fuck.

All I need is 100,000 to day trade with, but

Letting the banks and AIG fail was not an option
we had no option
it would have cost us, the tax-payer everything we had and would have ever had
most of that money has came back

Now the stimulus and the auto bailout is a different story
Obama has failed to fix main street because he paid off the unions (NEA and UAW)

 

[iamwhatiseem]

Hey now what about all those commercials where the new GM CEO said "100%" of what the taxpayers gave them was paid in full?
Oh yeah...they borrowed money a 2nd time to "pay" that back.
Yesteday the WH admin had a celebration that we only lost $16 billion.

 

[Soggy in NOLA]

I thought the union payoff @ GM was supposed to makes us money?

 

[Jack Fate]

If the workers had not been union there would have been no bailout for GM.

 

[JRK]

If the workers had not been union there would have been no bailout for GM.

It was a UAW bailout
that is correct
if for no other reason Obama should not be re elected

The UAW are no different than the bond holders that got thrown under the bus that owned GM bonds

It is sad

 

[iamwhatiseem]

If the workers had not been union there would have been no bailout for GM.

Absolutely.
It would not have hurt if one of the "big 3" would have failed. It would certainly have hurt the employees...but not the industry, in fact it would helped it.

 

[JRK]

If the workers had not been union there would have been no bailout for GM.

Absolutely.
It would not have hurt if one of the "big 3" would have failed. It would certainly have hurt the employees...but not the industry, in fact it would helped it.

the jobs would have been replace by ford as well as non union, american employees building Toyota's and Honda's

 

[daveman]

 

[boedicca]

Funny - but it's not quite fair to lump in Ford with the other two.

 

[daveman]

Funny - but it's not quite fair to lump in Ford with the other two.

A comment on Flickr, where I found it:

(29 months ago | reply)
Sorry, Scott. This parody may be an oversimplification in regards to Ford, but it is not blatantly false. True, Ford is not receiving a loan from the initial emergency bailout. However, it is hoping for a $9 billion dollar line of credit in the second, long-term bailout package. Secondly, it does receive indirect benefit from the now $23 billion in emergency bailout funds received by GM and Chrysler. Much of this money will go to pay the large network of independent parts manufacturers that supply all 3 US automakers. This network could not survive if it had to depend on payments from Ford alone. Ford's ability to continue would be seriously compromised.​

So, yeah, Ford has benefited from the bailout.

 

[Vast LWC]

You guys are fucking hilarious.


First you try to blame Obama for the Auto Industry bailout, calling him a "Socialist" and a "Fascist"...

And now that it's WORKED, you're trying to take the credit!!!

LOL.

Amazing.

Just. Fucking. Amazing.


I'll give you this, your balls are the size of train cars.