Obama Needs to Stop Saying ‘I Am GM, Hear Me Roar’

[8537]

GM is only alive because TAXPAYERS are underwriting it.

I'm well aware of that. And because we underwrote it, hundreds of thousands of people have a job today.

And those people would have had jobs without the taxpayer's buying the union contracts. How many airlines have gone bankrupt and yet still fly?

They would have had jobs....at which McDonalds?

GM was not in the situation of most airlines. Airlines declary bankruptcy as part of a rebuilding strategy. GM had no private investors willing to underwrite their bankruptcy.

 

[Vel]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Still spreading the lie that Obama saved the auto companies? It has become well known that the auto industry would have survived a structured bankruptcy. The union contracts would not have. The difference here is that Obama gave his buddies at the UAW taxpayer money as payback for their political support by disregarding established bankruptcy law. 23 million payback dollars on the backs of the taxpayers. And then on to Solyndra.

Except no private investors stepped up to bail out GM.

Private investors were not going to take on those union contracts. After a structured bankruptcy dealt with those over-inflated contracts it would probably have been different. Besides, Obama made sure that what private investors that had a stake in GM got royally screwed.

 

[8537]

Still spreading the lie that Obama saved the auto companies? It has become well known that the auto industry would have survived a structured bankruptcy. The union contracts would not have. The difference here is that Obama gave his buddies at the UAW taxpayer money as payback for their political support by disregarding established bankruptcy law. 23 million payback dollars on the backs of the taxpayers. And then on to Solyndra.

Except no private investors stepped up to bail out GM.

Don't you wonder why they didn't??

No, we KNOW exactly why they didn't. Because the financial markets were in free fall and everyone was 100% risk averse at the time.

 

[ScreamingEagle]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Don't you get it lamebrain.......?

If GM was allowed to go bankrupt the taxpayers would not be on the hook.......the union would have had to take a haircut instead.....

No, the entire nation would have taken a haircut. Lamebrain.

and we aren't now.......? ....lameassbrain+....

 

[Dick Tuck]

Ask yourself this question, "Is the UAW better off now that it was 4 years ago?"

Much better off. Why do right wingers hate American workers having good jobs and benefits?

 

[zeke]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Don't you get it lamebrain.......?

If GM was allowed to go bankrupt the taxpayers would not be on the hook.......the union would have had to take a haircut instead.....

You gotta luv the work IF. As in; if frogs had wings.......

But guess what. Obama did save the auto industry. No if, ands or buts about it.

And Mitt said let them fail.

Tough position to defend that asshole (Mitt) that wanted even more UE in the country.
But that sure doesn't stop you Rethugs from trying. Again and again and again.

 

[8537]

Still spreading the lie that Obama saved the auto companies? It has become well known that the auto industry would have survived a structured bankruptcy. The union contracts would not have. The difference here is that Obama gave his buddies at the UAW taxpayer money as payback for their political support by disregarding established bankruptcy law. 23 million payback dollars on the backs of the taxpayers. And then on to Solyndra.

Except no private investors stepped up to bail out GM.

Private investors were not going to take on those union contracts. After a structured bankruptcy dealt with those over-inflated contracts it would probably have been different. Besides, Obama made sure that what private investors that had a stake in GM got royally screwed.

Private investors with a stake in GM? Why should someone with equity in a company get paid when that company collapses?

 

[AmyNation]

Still spreading the lie that Obama saved the auto companies? It has become well known that the auto industry would have survived a structured bankruptcy. The union contracts would not have. The difference here is that Obama gave his buddies at the UAW taxpayer money as payback for their political support by disregarding established bankruptcy law. 23 million payback dollars on the backs of the taxpayers. And then on to Solyndra.

Except no private investors stepped up to bail out GM.

Don't you wonder why they didn't??

I wasn't for the GM bailout, but I wasnt for the Wallstreet bailout either. However even though I disagree with stepping in to bail out failing businesses doesn't mean I can't recognize that GM is here, because America invested in them.

 

[Vel]

We are now making a 4WD Masseratti in the USA thanks to the Chrysler bailout!

I'm stoked!

And Chrysler is no longer an American company.

So what? It employs several thousand American autoworkers and the loan has been paid off in full at something like 17% interest.

Sure they did.
The truth behind Chrysler

 

[Vel]

Except no private investors stepped up to bail out GM.

Private investors were not going to take on those union contracts. After a structured bankruptcy dealt with those over-inflated contracts it would probably have been different. Besides, Obama made sure that what private investors that had a stake in GM got royally screwed.

Private investors with a stake in GM? Why should someone with equity in a company get paid when that company collapses?

Why should the union?

 

[8537]

Private investors were not going to take on those union contracts. After a structured bankruptcy dealt with those over-inflated contracts it would probably have been different. Besides, Obama made sure that what private investors that had a stake in GM got royally screwed.

Private investors with a stake in GM? Why should someone with equity in a company get paid when that company collapses?

Why should the union?

Nice attempt at diversion, but you didn't answer my question.

 

[rightwinger]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Still spreading the lie that Obama saved the auto companies? It has become well known that the auto industry would have survived a structured bankruptcy. The union contracts would not have. The difference here is that Obama gave his buddies at the UAW taxpayer money as payback for their political support by disregarding established bankruptcy law. 23 million payback dollars on the backs of the taxpayers. And then on to Solyndra.

As a matter of fact, we do not know that

No major corporation has had to go through bankruptcy restructuring during a massive economic collapse. There was no private money to be had. The market was bailing out in all sectors. Without the might of the US Government standing up for the auto companies, it is highly likely they, as well as the financial markets would have collapsed

It was a no-brainer.....except for Republicans

 

[naturegirl]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Don't you get it lamebrain.......?

If GM was allowed to go bankrupt the taxpayers would not be on the hook.......the union would have had to take a haircut instead.....

You gotta luv the work IF. As in; if frogs had wings.......

But guess what. Obama did save the auto industry. No if, ands or buts about it.

And Mitt said let them fail.

Tough position to defend that asshole (Mitt) that wanted even more UE in the country.
But that sure doesn't stop you Rethugs from trying. Again and again and again.

OK, Ok now I'm really confused. GM should have gone through bankruptcy, well they did anyway.

Here's my conundrum. TARP spending is being blamed on Bush, it was his program, right?? That's not Obama's debt, his didn't start til 2009.

Now stay with me, TARP saved GM but that's Obama's doing?? Jesus, you can't have it both ways.

 

[Vel]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Don't you get it lamebrain.......?

If GM was allowed to go bankrupt the taxpayers would not be on the hook.......the union would have had to take a haircut instead.....

You gotta luv the work IF. As in; if frogs had wings.......

But guess what. Obama did save the auto industry. No if, ands or buts about it.

And Mitt said let them fail.

Tough position to defend that asshole (Mitt) that wanted even more UE in the country.
But that sure doesn't stop you Rethugs from trying. Again and again and again.

No. Mitt said let them go through bankruptcy like any business that has poorly managed it's company. We have bankruptcy laws for a reason. They would have come out of bankruptcy without the bloated union contracts is the only reason that Obama stepped in. It was a payoff.

 

[ScreamingEagle]

had the government treated the UAW in the manner required by bankruptcy law, the taxpayers would have been able to recoup their entire investment in the company. The program would have amounted to subsidized loans instead of a direct bailout. The Administration could have kept the automakers running without losing a dime.

Accomplishing this would have been straightforward. At Chrysler, the Treasury—not the UAW—could have received the $4.6 billion note and ownership of 41.5 percent of the company. At General Motors, the bankruptcy process could have operated normally, reducing GM’s compensation to market levels and raising the value of the government’s shares. The Treasury could have also received the $2.5 billion note, the $6.5 billion in preferred stock, and the excess shares of GM given to the union. The Administration could have directed the firm not to treat Delphi’s UAW members better than non-union retirees and put less money into GM. Had the Administration done so American taxpayers would not have lost $23 billion.

Obama Needs to Stop Saying ‘I Am GM, Hear Me Roar’ « The Greenroom

 

[8537]

Don't you get it lamebrain.......?

If GM was allowed to go bankrupt the taxpayers would not be on the hook.......the union would have had to take a haircut instead.....

You gotta luv the work IF. As in; if frogs had wings.......

But guess what. Obama did save the auto industry. No if, ands or buts about it.

And Mitt said let them fail.

Tough position to defend that asshole (Mitt) that wanted even more UE in the country.
But that sure doesn't stop you Rethugs from trying. Again and again and again.

OK, Ok now I'm really confused. GM should have gone through bankruptcy, well they did anyway.

Here's my conundrum. TARP spending is being blamed on Bush, it was his program, right?? That's not Obama's debt, his didn't start til 2009.

Now stay with me, TARP saved GM but that's Obama's doing?? Jesus, you can't have it both ways.

President Bush very openly left the decision about how to address GM to the next administration. He was pretty clear about that, and it was probably the right thing to do in those circumstances. Bush provided a band-aid to get them through to the next administration.

 

[8537]

Don't you get it lamebrain.......?

If GM was allowed to go bankrupt the taxpayers would not be on the hook.......the union would have had to take a haircut instead.....

You gotta luv the work IF. As in; if frogs had wings.......

But guess what. Obama did save the auto industry. No if, ands or buts about it.

And Mitt said let them fail.

Tough position to defend that asshole (Mitt) that wanted even more UE in the country.
But that sure doesn't stop you Rethugs from trying. Again and again and again.

No. Mitt said let them go through bankruptcy like any business that has poorly managed it's company. We have bankruptcy laws for a reason.

Which private capital firm was going to finance that bankruptcy? You'll notice Bain, for instance, made no offer to do so.

 

[Vel]

Still pouting about Obama saving the auto companies while Romney said "Let them fail"?

Still spreading the lie that Obama saved the auto companies? It has become well known that the auto industry would have survived a structured bankruptcy. The union contracts would not have. The difference here is that Obama gave his buddies at the UAW taxpayer money as payback for their political support by disregarding established bankruptcy law. 23 million payback dollars on the backs of the taxpayers. And then on to Solyndra.

As a matter of fact, we do not know that

No major corporation has had to go through bankruptcy restructuring during a massive economic collapse. There was no private money to be had. The market was bailing out in all sectors. Without the might of the US Government standing up for the auto companies, it is highly likely they, as well as the financial markets would have collapsed

It was a no-brainer.....except for Republicans

That is pure speculation on your part. And yes, other industries have failed during recessions and recovered. The difference was that those bloated union contracts were going to fall before any investors were going to step up. No one in their right mind would have tried to lift up that industry with such a millstone weighing it down. Union payoff pure and simple.

 

[naturegirl]

You gotta luv the work IF. As in; if frogs had wings.......

But guess what. Obama did save the auto industry. No if, ands or buts about it.

And Mitt said let them fail.

Tough position to defend that asshole (Mitt) that wanted even more UE in the country.
But that sure doesn't stop you Rethugs from trying. Again and again and again.

OK, Ok now I'm really confused. GM should have gone through bankruptcy, well they did anyway.

Here's my conundrum. TARP spending is being blamed on Bush, it was his program, right?? That's not Obama's debt, his didn't start til 2009.

Now stay with me, TARP saved GM but that's Obama's doing?? Jesus, you can't have it both ways.

President Bush very openly left the decision about how to address GM to the next administration. He was pretty clear about that, and it was probably the right thing to do in those circumstances. Bush provided a band-aid to get them through to the next administration.

So even though Obama held the purse strings, it's still Bush's spending?? Really?? You don't see the ignorance of that thought process??

 

[8537]

OK, Ok now I'm really confused. GM should have gone through bankruptcy, well they did anyway.

Here's my conundrum. TARP spending is being blamed on Bush, it was his program, right?? That's not Obama's debt, his didn't start til 2009.

Now stay with me, TARP saved GM but that's Obama's doing?? Jesus, you can't have it both ways.

President Bush very openly left the decision about how to address GM to the next administration. He was pretty clear about that, and it was probably the right thing to do in those circumstances. Bush provided a band-aid to get them through to the next administration.

So even though Obama held the purse strings, it's still Bush's spending?? Really?? You don't see the ignorance of that thought process??

Whatever are you talking about? Who said that? Certainly not me.

Please try to keep up with what I say.