Obama saves GM for China..?

[Franticfrank]

I also feel the quality has improved significantly compared to just 10 years ago. Developing economies need time to improve their skills and quality. The Americans are seeing this improvement as well, look at this statistic about US investment in China over the last decade. That could be alot of US jobs sent overseas, not just by Obama but Bush as well

 

[Lovebears65]

Look...in order to remain competitive, GM must make and sell cars in China. This is a fact. China charges a very large import tax on vehicles.

I do vehemently disagree with the additional fact that GM will make cars in China to sell in the United States.

What do you propose? We prevent GM from being competitive and they fail again? (All the major car companies have plants in China). We impose import tariffs? We pay China-like wages to American workers, further decimating the middle class?

I realize y'all think we should have, as Willard Romney wanted, "let Detroit fail". Well, we didn't. We helped out an American business and it was successful. GM, instead of failing and going out of business, (because, as you will recall, there was no private money to be had thanks to George Bush's recession so they would no longer be around...gone. As American as Apple pie wiped out and those jobs gone) they have rebounded and are the number one selling automobile company in the world.

The auto industry is one of the things driving the American economy and we, the American people, helped make that happen by a private/public partnership.

Well, now the partnership is over and GM gets to play with all the other big dogs. They've paid back their loan, with interest.

That does still leave us, the American taxpayer, with a large share of GM stock. Wouldn't you like to make money on that stock that the government owns?

Why do the feds still own 32% of GM if the loan have been paid?

Beats me...it was part of the bipartisan deal worked out by our legislators. Ask them. All I know is that we don't own GM, they are free to be competitive in a global market ifn they wants to.

So, still no proposals? Tariffs? Lowering Americans wages even further? Somehow prevent GM from competing globally and let them completely fail and we eat the stock?

I'm happy GM is still around and Detroit didn't fail. I'm glad the economy in Michigan and the rest of the United States is being helped by our bailout of GM and I sure as hell hope they succeed. Wouldn't it be great if we could actually make a little scratch off this deal?

I hate that American companies are making things overseas, but I disagree that we should crap even more on the middle class to make 'em come back here.

You do know they paid the payments with the bail out money. They are just shoveling the money around to look like it has been paid
GM's Phony Bailout Payback - Reason.com
Grassley Slams GM, Administration Over Loans Repaid With Bailout Money | Fox News

 

[Seawytch]

Why do the feds still own 32% of GM if the loan have been paid?

Beats me...it was part of the bipartisan deal worked out by our legislators. Ask them. All I know is that we don't own GM, they are free to be competitive in a global market ifn they wants to.

So, still no proposals? Tariffs? Lowering Americans wages even further? Somehow prevent GM from competing globally and let them completely fail and we eat the stock?

I'm happy GM is still around and Detroit didn't fail. I'm glad the economy in Michigan and the rest of the United States is being helped by our bailout of GM and I sure as hell hope they succeed. Wouldn't it be great if we could actually make a little scratch off this deal?

I hate that American companies are making things overseas, but I disagree that we should crap even more on the middle class to make 'em come back here.

You do know they paid the payments with the bail out money. They are just shoveling the money around to look like it has been paid
GM's Phony Bailout Payback - Reason.com
Grassley Slams GM, Administration Over Loans Repaid With Bailout Money | Fox News

GM gave back TARP money it had in escrow. So what? That doesn't change the fact that GM has paid back it's loan in full, with interest AND five years ahead of schedule.

We are still on the hook for the stock we own, that's why this "trash GM" meme the RW had going on makes no sense. If you want to recoup even some of the country's losses on the bailout, you should be cheering GM on, not trying to beat them down every chance you get.