Posted on 12/09/2013 4:08:46 PM PST by Dallas59
That is OUR money just thrown away.............
Well-stated (#14), hosepipe. BTTT!
That’s right, It had been reported that GM paid it back.
“...the alternative would have been much worse.”
Yes, Obama’s people would have had to buy their own sh*tty cars.
Re “CBS news is reporting a profit of 10B$”.
Media whores always report a profit whether it is real or not. Otherwise they would have to tell the truth and that ain’t gonna happen under the Obama regime.
It’s impossible to keep up with all the poop these jackworms throw in the air.
But nobody ever asks and nobody every explains “how the alternative would have been worse”. In what way? Obama bailed out GM to give the auto unions controlling interest by way of kicking the preferred bondholders under the bus to get nothing in return for their investments. The administration selectively put out of business all the suppliers who were not of the “correct” (i.e. DemoRAT) political bent. Even after the bailout, GM went bankrupt anyway and they’ll go bankrupt again with the unions running the show. GM has taken their manufacturing and marketing overseas to China. How has this “saved” US jobs, as Obama so oft repeated. Oh, wait a minute. I forgot....Obama has proven himself to be a LIAR!
Again, how was this a good thing for the taxpayers who were fleeced for at least a net $10 billion loss? How did this benefit them? Or the auto industry? Letting GM go bust without government intervention would have meant that other investors would have bought up the assets and either started a new company or other existing, profitable companies would have filled the void and saved the taxpayers $10 billion. This scam obviously didn’t benefit Detroit either. Look where they’re at right now. In the middle of filing bankruptcy themselves.
This was just one big DemoRAT fluster-cuck to steal $10 billion from the US treasury. Legal theft. This administration is a Continuing Criminal Enterprise (CCE) and should be prosecuted for their frauds and crimes. Oh, wait a minute. I forgot....Eric “The Red” Folder would have to initiate that.
I’m not holding my breath.
We are in a continual “love fest” with this $hithead!
So can GM finally go into bankruptcy now?
With that bunch of losers we should be grateful that they only lost 10 billion .... they will eventually lose 50-60 billion on green energy “investments” with taxpayer dollars.
“GM wasn’t bailed out. The UAW was bailed out.”
And the bondholders didn’t even get an Obamacare waiver.
GM can still go F themselves.
It’s like everyone has scales over their eyes. I still can’t believe he was elected the first time, never mind the second.
Oh, well. It’s only $10,000,000,000.00.
I like seeing it printed out like that. Too often words like billion and trillion are just kind of thrown around. A million dollars is a lot of money. A thousand million is really a lot of money, and ten of those is REALLY a lot of money.
Mark
The federal government took an incredibly lucrative business that was making money hand over fist, and ran it into the ground, LOSING MONEY in a legal brothel!
Amazing, isn't it?
Mark
No one is accounting for the money stolen from the real owners of GM.
Just saw a segment on Bloomberg on the new CEO of Chrysler, they sound like Chrysler is strong, and test to guess (she) will go increasingly after electric cars.
I’m interested. She seems like a strong team player. She in large part is also behind the Corvette I believe.
Chrysler is now free of the government. Let’s take another look.
Go Chrysler.
Stiffing the bondholders was the worst crime of all in this terrible and corrupt bailout. I am one of the many decent people who are boycotting NewGM for life. I will not buy a new or used GM, rent a GM, or accept GM parts ever. I don't deal with crooks, and stiffing the rightful claimants on GM assets was unforgivable.
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