Posted on 11/18/2010 8:15:13 PM PST by JohnRLott
Only the government would consider it a success to buy stock at $43.84 a share and sell it at $33. -- But President Obama and those who supported his bailout of General Motors and Chrysler are claiming just that today. First, the alternative to the government bailout wasn't to "give up" as Obama claimed on Thursday at his press conference. Bankruptcy didn't mean that all jobs were going to be lost. It didn't mean that all the factories producing cars would be closed. Yet, the president made that claim in his announcement again today and he continually misstates what would have happened in a normal bankruptcy. Courts don't just close down bankrupt companies. In fact, that rarely occurs. Any part of a company that can continue operating profitably continues to do so. Some are pointing out that just a year and a half ago GM stock was trading at just $1 a share and claim that today's closing price of $34.19 is proof of the bailout's success. It simply doesn't account for the over $50 billion in direct bailout funds and the tens of billions of dollars in other breaks President Obama gave the company and its unions. . . .
(Excerpt) Read more at foxnews.com ...
Sickening.
Never pay money to these communists when you can buy a car that doesn’t have included in its price bloated wages ,pensions and health insurance. Why would you buy a car from the government? Shun them. reject them. God Bless FORD!!
I heard it on the radio. Obama is personally taking credit for GM’s success? Doesn’t appear to be a success from what I can see...
The spin is worse than anything under the USSR. I have been telling people that ALL of TV and ALL of Hollywood is the enemy.
Prince Al Waleed’s Fox is not really our friend too - but some gropers here really like Shep Smith. Eff TV. Liar.
The markets manipulated this POS stock all day to keep it from crashing.
bookmark
I wish someone would plug the damn hole. The one just beneath Obama’s nose!
hey, chalk it up to lack of experience!
BUMP! BUMP! and BUMP!
I saw that. I just happened to be in the room for the Nightly news. It said the government no longer owns 61% It now owns 33%.
I heard that too. Afterplaying the Obama sound bite where he took credit for saving the company, the ABC Radio News reporter broadcasting live at the L.A. Auto Show was breathlessly telling us of that orders for the "VOLT" were incredible.
The pundits tell us there are probably about 20% of the population that are far left liberals and I think there might be 20 % that are conservative independent thinkers, if we are lucky. The other 60% are lemmings and it's now a battle between the two 20% groups to win over at least 50% of the lemmings, in order to determine the country's future. The problem is that the 20% on the far left have almost all of the entertainment and news industry on their side. They own the brainwashing machinery.
Right now the 60% are upset with the left, because the left pushed them too hard, to quickly. But the vast majority of them still believe what has been drilled into their heads since birth - the country owes them something, the system is unfair, it's always someone else’s fault. They are conditioned to stop thinking for themselves, conditioned to expect the government to take care of them.
Maybe in America today too many people are simply too fat, stupid and lazy to save what's left of the country our forefathers built.
It's all so f*cking depressing.
Great article, JohnRLott. Thanks for all of your work.
you are correct, I remember that as well.
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Yeah, optimistic on the independent thinkers left in the country, maybe 15% is even generous.
Proof again for grammar errors, I saw several.
Also, Barry Frank D. Mass should be BARNEY Frank.
Othewise, good piece.
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