GM, OBAMA, The Chickens are coming home to roost

Discussion in 'Politics' started by JRK, Jun 2, 2011.

  1. JRK
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    JRK Senior Member

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    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, …
    Slideshow:president 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.
     
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  2. WillowTree
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    WillowTree Diamond Member

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    Unions izzzzz expensive
     
  3. JRK
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    JRK Senior Member

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    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
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    When things go wrong Obama says,"I blame Bush"
     
  5. Avorysuds
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    Avorysuds Gold Member

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    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.
     
  6. JRK
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    JRK Senior Member

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    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.
     
  7. Avorysuds
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    Avorysuds Gold Member

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    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.
     
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  8. BlindBoo
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    BlindBoo Gold Member

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  9. JRK
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    JRK Senior Member

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    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
     
  10. JRK
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    JRK Senior Member

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    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)
     
    Last edited: Jun 2, 2011

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