Obama DID NOT save GM, the bankruptcy judge did.

Discussion in 'Politics' started by Grampa Murked U, Feb 23, 2012.

  1. Grampa Murked U
    Offline

    Grampa Murked U Diamond Member

    Joined:
    Jun 13, 2011
    Messages:
    47,545
    Thanks Received:
    8,778
    Trophy Points:
    2,055
    Location:
    Kansas City
    Ratings:
    +23,782
    Anyone who believes otherwise is easily fooled in my opinion.

    Had the bailout that both Bush and Obama were for worked, the company wouldn't have gone bankrupt anyway. All Obama ultimately did was steal wealth from the bond holders and line the pockets of the unions with it. The company itself remained in the red until the bankruptcy judge allowed certain debts to be dumped and restructured the remaining debts.

    Bankruptcy saved GM. Obama saved union votes and wasted our tax dollars.
     
    • Thank You! Thank You! x 1
  2. Grampa Murked U
    Offline

    Grampa Murked U Diamond Member

    Joined:
    Jun 13, 2011
    Messages:
    47,545
    Thanks Received:
    8,778
    Trophy Points:
    2,055
    Location:
    Kansas City
    Ratings:
    +23,782
    I see the truth gets no attention around here.
     
  3. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    and so it begins.

    He gets only credit for anything negative and no credit for anything positive.

    Imagine our suprize that you are so unfair about it.

    The revcovery will come and you will try and claim it.

    No one with any sense will buy it
     
    • Thank You! Thank You! x 1
  4. Claudette
    Online

    Claudette Gold Member

    Joined:
    Nov 3, 2009
    Messages:
    19,566
    Thanks Received:
    3,012
    Trophy Points:
    280
    Ratings:
    +7,634
    YOu can bet your ass Barry was pushing for it.

    After all he had to pay back the unions for the millions they added to his war chest.

    What a guy.
     
  5. Grampa Murked U
    Offline

    Grampa Murked U Diamond Member

    Joined:
    Jun 13, 2011
    Messages:
    47,545
    Thanks Received:
    8,778
    Trophy Points:
    2,055
    Location:
    Kansas City
    Ratings:
    +23,782
    Why should Obama get credit for what a bankruptcy court achieved?

    And I DID give him credit for lining the pockets of his union buddies.

    My op is factual and if truth matters you would acknowledge that.
     
  6. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    I sort of see your point.

    We paid more than the cap value for the stocks.

    The time to have purchased the company was after it went belly up, and the lenders to GM and the bond holders lost everything.

    We'd (meaning the US taxpayers) would have gotten the company for a song.
     
  7. Mr. Shaman
    Offline

    Mr. Shaman Senior Member

    Joined:
    May 4, 2010
    Messages:
    23,892
    Thanks Received:
    817
    Trophy Points:
    48
    Ratings:
    +819
    [​IMG]

    [​IMG]
     
  8. Grampa Murked U
    Offline

    Grampa Murked U Diamond Member

    Joined:
    Jun 13, 2011
    Messages:
    47,545
    Thanks Received:
    8,778
    Trophy Points:
    2,055
    Location:
    Kansas City
    Ratings:
    +23,782
    The bond holders wouldn't have lost everything. They would have been some of the first in line. And rightly so. The tax payers should have never been involved in this sham.
     
  9. VaYank5150
    Offline

    VaYank5150 Gold Member

    Joined:
    Aug 3, 2009
    Messages:
    11,779
    Thanks Received:
    1,047
    Trophy Points:
    138
    Location:
    Virginia
    Ratings:
    +1,055
    General Motors - Wikipedia, the free encyclopedia

    Based on the facts, had Obama NOT provided GM with tax payer capital, they never could have re-emerged from the bankruptcy he forced them into. So, while I have always disagreed with the bail outs of Wall Street, GM and Chrysler, it would appear that Grandma is twisting the facts to once again attempt to bash Obama. Pretty typical for her....
     
    • Thank You! Thank You! x 1
  10. Sallow
    Offline

    Sallow The Big Bad Wolf. Supporting Member

    Joined:
    Oct 4, 2010
    Messages:
    56,535
    Thanks Received:
    6,132
    Trophy Points:
    1,840
    Location:
    New York City
    Ratings:
    +7,394
    Ah so..which "sham" should they be involved in?
     

Share This Page

Search tags for this page

obama did not save gm