TARP was signed into law by Bush, adn it's "success" is debatable.
The auto bailout is a failure in that it skewed the industry and GM is teetering again on another bankruptcy. Which it should have to go through. Along with restructuring or a coffin.
The stimulus was only a success if you lower the bar far enough. What it was sold to accomplish, it fell extremely short. In other words based on what it was suppose to accomplish, it fucking failed, fella.
You're welcome.
TARP was a success. The fact that you have a wall street where America still owns majority shares in major financial companies proves it. Lehman was a "proof of concept".
And the auto industry is thriving again...not "teetering". American cars are on top..world wide. That's not failure.
And there was no bar "lowered", the stimulus met the numbers it was scored to meet. The number of people that kept their jobs or were employed, was essentially the numbers that were projected by the stimulus.
You guys either do not recognize the extent of the damage caused by the Bush administration or live in an alternate reality.
General Motors Is Headed For Bankruptcy -- Again - Forbes
General Motors Is Headed For Bankruptcy -- Again
Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.
Right now, the governments GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.
So, first you say TARP, which is a Bush policy, is a success. Then you say the Bush administration caused all the damage. You can't have it both ways. Well, youre a LOLberal. I guess you can. Of course Im sure you attribute the TARP "success" to Obama.
Revisiting Unemployment Predictions | e21 - Economic Policies for the 21st Century
Back in January 2009, Christina Romer and Jared Bernstein produced a report estimating future unemployment rates with and without a stimulus plan. Their estimates, which were widely circulated, projected that unemployment would approach 9% without a stimulus, but would never exceed 8% with the plan. The estimates, along with real unemployment rates, are posted below
In May 2011, using the latest figures available from the BLS, the unemployment rate reached 9.1%. In contrast, the Romer and Bernstein projections estimated that the unemployment rate would be around 8.1% for this month without a recovery plan, or 6.8% with a stimulus plan (which was ultimately passed). The actual unemployment rate has been consistently above Romer and Bernsteins worse case scenario for the economy and by a considerable margin. They projected that the unemployment rate would never climb above 9%. As time has passed, it turns out that only two months out of the last two years have seen an unemployment rate lower than 9%
General Motors is NOT heading for bankruptcy again. I think a better understanding of who wrote the OP and WHY is in order.
GM is not following the old business model that led to a glut of rapid turnover creating too many late-model vehicles at auction, depressing used vehicle prices and making depreciation rates for 2- and 3-year old vehicles of the make uncompetitive.
Here are the facts: GM had $152 billion in total assets at the end of the second quarter, compared with $110.4 billion in liabilities.
The company's stock is down about one-third from its November 2010 initial public offering price of $33, but it's been rebounding lately. Shares closed at $22.01 on Friday, up 3.2% for the day. It has risen 12% since Aug. 1.
Most analysts, in fact, have argued that GM stock is undervalued.
"Ford and GM may have bottomed and are poised for a rally; GM remains our top pick, but bullish on Ford as well," Barclays analysts wrote in a research note Friday.
From
Former General Motors Vice Chairman Bob Lutz:
Despite a $7.6-billion profit in 2011 and $2.5 billion in the first two quarters of 2012, GM "seems unable to develop products that are truly competitive in the U.S. market," Forbes contributor Louis Woodhill wrote this week.
In his posting Woodhill said he has a bachelor of science degree in mechanical engineering and is a software entrepreneur. He also serves on the leadership council of the ultraconservative, anti-tax nonprofit Club For Growth.
"The fact that he would focus on GM's admittedly-lower U.S. market share as a harbinger of impending doom demonstrates the most profound lack of understanding of the vehicle business," Lutz wrote under a headline
"Chicken Little's Second GM Bankruptcy: A Gold Medal for Silly Op-Ed Pieces."
"The company is gaining strength," Lutz continued. "It remembers the lessons of the past. It does not shy from its well-documented problems, such as GM Europe; instead, it addresses them head on. To suggest that a cash-rich, profitable company with these characteristics is about to go under is, to me, 'fatuous twaddle.' "
People love their pleasantries.
