GM, OBAMA, The Chickens are coming home to roost

[boedicca]

It didn't work.

GM has been propped up with $Bs & $Bs of taxpayer money and was allowed to keep $45B of tax loss carryforwards (which should have been voided during the bankruptcy proceedings). Their recent profitability was largely due to the tax game and selling off Delphi (a one time event).

 

[daveman]

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.

Obama and GM told you it worked...but it didn't. If you weren't so gullible, you'd know that.

But then, if you weren't so gullible, you wouldn't be an Obama supporter.

 

[JRK]

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.

To start with Obama did nothing but give other peoples money to, other people
without asking by the way
and who the fuck said it worked?

 

[candycorn]

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.

It expected to lose something like 60 Billion.
The result was that the auto industry was saved.

Sorry but a lot of people kept their jobs and anarchy won't happen this week.

Sucks to be you but then again, he he he, you knew that.

 

[Too Tall]

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?

How many shares of Chrysler do "we' own?

 

[iamwhatiseem]

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.

And you obviously can't read.

 

[DaGoose]

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

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

So you're saying that Bush was a tool of organized labor and that is why he began the bailout?

Never mind that there were hundreds of thousands of jobs in supporting industries that are not union that would have been lost had GM and Chysler been allowed to fold.

The bottom line is that allowing GM and Chrysler to fold would have been devastating to an already sinking economy. Is was the only option for both Bush and Obama.

.

 

[FireFly]

The bailout money should have been taken from the union pension fund first before they came to the tax payers.

 

[WillowTree]

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.

To start with Obama did nothing but give other peoples money to, other people
without asking by the way
and who the fuck said it worked?

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.

It expected to lose something like 60 Billion.
The result was that the auto industry was saved.

Sorry but a lot of people kept their jobs and anarchy won't happen this week.

Sucks to be you but then again, he he he, you knew that.[/QUOTE]

Perhaps you can explain to the "it sucks to be you" crowd what obie doodle and you will do when you've run out of other peoples money? I'd be interested in hearing your viewpoint.

 

[WillowTree]

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.

It expected to lose something like 60 Billion.
The result was that the auto industry was saved.

Sorry but a lot of people kept their jobs and anarchy won't happen this week.

Sucks to be you but then again, he he he, you knew that.

Figures, the only plan you freaking dimwits can come up with is "anarchy."

 

[JimH52]

Yeah, Obama had OBL killed, and today I see an e-mail with Bin Laden's head on the wall behind Bush. You know, the guy who was "not conerned" about Bin Laden.

 

[WillowTree]

What happened to CandyAss? I just knew he had the answers.

 

[JRK]

Yeah, Obama had OBL killed, and today I see an e-mail with Bin Laden's head on the wall behind Bush. You know, the guy who was "not conerned" about Bin Laden.

Being a liberal is a mind set I will never understand
The intel that found OBL came from a person captured in Iraq and water boarding
CIA Director Says Intel From Waterboarding Led to Bin Laden Raid - Waterboarding - Fox Nation
In addition the navy seals killed OBL
One more thing
What does any of this have to do with the failure that is the auto bailout? Thats my wealth, the tax payers wealth
Not BHO
and as far as losing jobs?
does this mean people would stop buying cars?
I dont think so

 

[Mr. Shaman]

Obama has blamed Bush for everything bad that happened (as a result of Obama’s miscues) in the first two years of his term....

C'mon.....everybody knows it was Phil Gramm!!!!!

(.....Another Texan.....as usual.)

[ame=http://www.youtube.com/watch?v=f2iHksmF7m4]YouTube - ‪American Casino: Greenspan's "flaw in the model"‬‏[/ame]​

 

[JRK]

Obama has blamed Bush for everything bad that happened (as a result of Obama’s miscues) in the first two years of his term....

C'mon.....everybody knows it was Phil Gramm!!!!!

(.....Another Texan.....as usual.)

[ame=http://www.youtube.com/watch?v=f2iHksmF7m4]YouTube - ‪American Casino: Greenspan's "flaw in the model"‬‏[/ame]​

I am not sure why it is you have no way to share your opinion
The reason GM went broke was legacy cost and payroll obligations

Why any one would think it was anything else is beyond me
GM could not sell there product, make profit in a competitive market in which Toyota pays good wages and provides 401k type retirements, right here in the USA

 

[Mr. Shaman]

[ame=http://www.youtube.com/watch?v=Raomk7DuXeY]YouTube - ‪Does Sarah Palin's Bus Tour Mean She's Running?‬‏[/ame]​

 

[rdean]

If McCain had been president, Bin Laden would be free and still plotting more attacks and the US would have no auto industry nor any company that supports the auto industry.

I'm glad we have Obama.

 

[midcan5]

Bush is the worst president in modern times and maybe ever. 911 occurred on his watch, he was given a surplus and then created the worst economic situation since the great depression, he couldn't find OBL and didn't seem to care, he invaded a nation that had nothing to do with 911, he found WMDs where there were none, he lost the popular vote in 2000, he like Reagan managed to create a financial situation so bad massive bailouts were required, he addressed none of the critical issues of infrastructure or energy. He is so bad even conservatives and republicans abandoned him - but history must be revised as truth is just too much for most people. Some of his failure is noted below.

"Lots of conservatives turned on George W. Bush by the end of his presidency. But here we see that if Bush didn’t exist, the right would have had to invent him. His proud parochialism, his simple-minded and insecure suspicion of intelligence, his swaggering self-righteousness—all of it is the natural expression of contemporary conservatism's outlook on the world." Damon Linker


W. and the damage done - Global warming - Salon.com


"Expected shortfall of gross domestic product below normal growth path in 2009: $900 billion

Decline in the Dow Jones Industrial Average from its decade high to its value at the close of business, Jan. 7, 2009: 5,394.83, or 38.1 percent

Number of manufacturing jobs lost since 2000: 3.78 million

Increase in number of unemployed workers from 2001 to 2008: 4 million, a jump of 2.7 percent in the unemployment rate

Real median household income according to the 2000 census, adjusted for inflation: $51,804

Real median household income as of August 2007: $50,233

Of course, the government didn't sit idly by while our financial future was disappearing down the drain. Instead, the feds have pumped in hundreds of billions of taxpayer dollars, hoping to juice lending and public spending.

Cost of finance industry bailout: $350 billion, with another $350 pending congressional approval

Cost of auto industry bailout: $17.4 billion, so far

And even though there's widespread agreement among economists that the government needs to be spending a large sum of money on an economic stimulus package, it still won't look pretty on the public balance sheet.

National debt: $10.6 trillion

Amount of that debt owned by China: At least $800 billion."


The Raw Story

 

[Soggy in NOLA]

If McCain had been president, Bin Laden would be free and still plotting more attacks and the US would have no auto industry nor any company that supports the auto industry.

I'm glad we have Obama.

Care to share with us how for you, what is mere speculation to the rest of us, is metaphysical certitude?

 

[JRK]

Bush is the worst president in modern times and maybe ever. 911 occurred on his watch, he was given a surplus and then created the worst economic situation since the great depression, he couldn't find OBL and didn't seem to care, he invaded a nation that had nothing to do with 911, he found WMDs where there were none, he lost the popular vote in 2000, he like Reagan managed to create a financial situation so bad massive bailouts were required, he addressed none of the critical issues of infrastructure or energy. He is so bad even conservatives and republicans abandoned him - but history must be revised as truth is just too much for most people. Some of his failure is noted below.

"Lots of conservatives turned on George W. Bush by the end of his presidency. But here we see that if Bush didn’t exist, the right would have had to invent him. His proud parochialism, his simple-minded and insecure suspicion of intelligence, his swaggering self-righteousness—all of it is the natural expression of contemporary conservatism's outlook on the world." Damon Linker


W. and the damage done - Global warming - Salon.com


"Expected shortfall of gross domestic product below normal growth path in 2009: $900 billion

Decline in the Dow Jones Industrial Average from its decade high to its value at the close of business, Jan. 7, 2009: 5,394.83, or 38.1 percent

Number of manufacturing jobs lost since 2000: 3.78 million

Increase in number of unemployed workers from 2001 to 2008: 4 million, a jump of 2.7 percent in the unemployment rate

Real median household income according to the 2000 census, adjusted for inflation: $51,804

Real median household income as of August 2007: $50,233

Of course, the government didn't sit idly by while our financial future was disappearing down the drain. Instead, the feds have pumped in hundreds of billions of taxpayer dollars, hoping to juice lending and public spending.

Cost of finance industry bailout: $350 billion, with another $350 pending congressional approval

Cost of auto industry bailout: $17.4 billion, so far

And even though there's widespread agreement among economists that the government needs to be spending a large sum of money on an economic stimulus package, it still won't look pretty on the public balance sheet.

National debt: $10.6 trillion

Amount of that debt owned by China: At least $800 billion."


The Raw Story

YOU KNOW WHAT A LINK IS?

Bush given a surplus?
Early 2000s recession - Wikipedia, the free encyclopedia
Thats called a recession
2000...... 131,785 110,995 24,649 599 6,787 17,263
2001...... 131,826 110,708 23,873 606 6,826 16,441
2002...... 130,341 108,828 22,557 583 6,716 15,259
2003...... 129,999 108,416 21,816 572 6,735 14,510
2004...... 131,435 109,814 21,882 591 6,976 14,315
2005...... 133,703 111,899 22,190 628 7,336 14,226
2006...... 136,086 114,113 22,531 684 7,691 14,155
2007...... 137,598 115,380 22,233 724 7,630 13,879
2008...... 136,790 114,281 21,334 767 7,162 13,406
Thats called job loss from 00 thru 03
Thats called job creation from 04-08
ftp://ftp.bls.gov/pub/suppl/empsit.ceseeb1.txt
9-11 and 2 wars had nothing to do with the GOP congress, social security supported "surplus" to go away
and Lets see
last GOP budget? 162 billion deifict
2007

The Bush Deficit, the Clinton Surplus and TARP by Gregory Hilton | The DC World Affairs Blog

The above graph does include spending on Iraq and Afghanistan during the Bush years. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is of course included in the numbers above.
The Bush deficit declined significantly until early September of 2008 when the global economic crisis began. Bush responded with TARP (the toxic asset recovery program). This was done because $550 billion was pulled out of our financial and investment systems in ONE hour on September 18, 2008. The situation was dire and there was no longer a firewall between the banks and the stock market. There was $40 trillion in outstanding Credit Default Swaps, and most of it turned out to be worthless. That’s more than the GDP of the entire United States for three years.
The Bush administration worked diligently to keep the American economy going. Many conservatives and libertarians were disappointed by TARP. They believed we should leave the economy alone and it would fix itself. The conservative magazine National Review did not agree and supported TARP as a necessary evil. The House Progressive Caucus was opposed but their prediction that it would fail, has not proven true.
TARP was necessary to save the economy from collapse. Letting the banks fail was not the right thing to do and it would have led to a Great Depression. TARP and all of the other government efforts in the fall of 2008 did unfreeze the credit markets. Every single credit indicator (LIBOR, TED spread, A2/P2 spread, intra-bank lending, etc) shows that the markets have significantly unfrozen. The major banks have now passed their stress tests, and they are able to raise capital through the public markets. The American economy survived without a depression. There was no wholesale meltdown of the U.S. banking system. The big banks did not fail.
The taxpayers could still lose $12 to $20 billion on the money given to AIG. That is disappointing, but it is big improvement from a few months ago. AIG received $182 billion from the Federal Reserve and the Treasury.
Many thought the taxpayers were going to get stuck for over $100 billion, but AIG has been rapidly selling assets and the loss will be far less than what was once believed. The real outrage is that AIG lost $98 billion in 2008 but that did not stop them from paying large bonuses after they received the balout money.
President Obama went well beyond TARP with his $787 stimulus in February of 2009. The Stimulus bill includes tax cuts but they are not the type that spur the economy. The economic model of the stimulus bill assumes every $1 of government spending increases the economy by $1.60. By that logic, debt-ridden, big-government countries like Italy, France and Germany should be wealthier than America. Not one House Republican voted for the final stimulus package, which is remarkable.
The moderates did not support it because it was too big, too porky, and hardly stimulative at all. It also wiped out many of Bill Clinton’s excellent welfare reform laws. We did see deficit reduction and economic growth in the late 1990′s.
Bill Clinton and a Republican Congress worked together. They agreed to restore a lower tax rate on capital gains and virtually eliminate capital gains taxes on owner-occupied housing. The galloping economy then reduced the deficit by a record level.
Another major factor was the “peace dividend” after the Cold War. Clinton however did not erase the debt. The national debt went up every single year. The Clinton surplus is also debatable. He took a vast amount of money out of Social Security in order to cover his budgets and give the appearance of reducing debt.

Now your opinion of GWB is your right
base it on facts and if you do
then what does that make Obama?

You Libs keep repeating the same lies

One other item
what did GWB have to do with the DJIA?