Mr. President, why don't you follow the GM model and help business?

[asterism]

Mr. President, you spoke about how you saved an entire industry by providing critical capital to a deserving company in a time of need. You then made an investment and bought some stock, gave $45 Billion in future tax breaks (not the "targeted" kind, the kind where taxable income is zero thereby paying no taxes below a certain level), and then sold a third of the stock on the open market for a loss. Then you allowed GM to offshore jobs, close factories, and lay off workers. You then set two subsidies for their flagship product in the way of granting a tax credit to new buyers and granting government-guaranteed financing.

Clearly you think this model works, so why don't you apply it to all businesses? What made a failing GM deserving? Tell you what, I'll meet you more than halfway. I'll take tax breaks proportionate to the ones you gave GM and I won't lay off a single employee. I won't offshore any jobs and I won't close any divisions. For a proportionate share of the loan you gave GM, I'll finance my customers myself. If they default and it causes me to default, I'll even pay half of it back.

Deal?


Review & Outlook: An IPO for Uncle - WSJ.com

 

[CrusaderFrank]

GM Business Model: Fuck the debt and equity holders to transfer wealth to the UAW.

 

[asterism]

GM Business Model: Fuck the debt and equity holders to transfer wealth to the UAW.

Good point, I need to add that I'll liquidate all my holdings before any of my bondholders lose a cent of principal (easy for me, I don't have any).

 

[hortysir]

Mr. President, you spoke about how you saved an entire industry by providing critical capital to a deserving company in a time of need. You then made an investment and bought some stock, gave $45 Billion in future tax breaks (not the "targeted" kind, the kind where taxable income is zero thereby paying no taxes below a certain level), and then sold a third of the stock on the open market for a loss. Then you allowed GM to offshore jobs, close factories, and lay off workers. You then set two subsidies for their flagship product in the way of granting a tax credit to new buyers and granting government-guaranteed financing.

Clearly you think this model works, so why don't you apply it to all businesses? What made a failing GM deserving? Tell you what, I'll meet you more than halfway. I'll take tax breaks proportionate to the ones you gave GM and I won't lay off a single employee. I won't offshore any jobs and I won't close any divisions. For a proportionate share of the loan you gave GM, I'll finance my customers myself. If they default and it causes me to default, I'll even pay half of it back.

Deal?


Review & Outlook: An IPO for Uncle - WSJ.com

 

[asterism]

Progressives, if Obama thinks this will work for GM why won't it work for me? I don't even need the money up front, just the same type of tax breaks GM gets on the back end.