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Thanks for bailing out GM, Obama

Discussion in 'Politics, Elections & Legislation' started by John Galt, Jul 3, 2012.

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  1. John Galt

    John Galt TS Member

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    Government Motors: As GM shares near record low, taxpayer loss on bailout rises to $35 billion. See link for the pathetic details.

    http://news.investors.com/article/616849/201207030826/gm-bailout-taxpayer-loss-rises-as-shares-fall.htm
     
  2. Stl Flyn

    Stl Flyn Well-Known Member

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    Oh boy. Come on John, please do some more investigating as to who started the bailout of GM, and most of the big bank bailouts, and insisted that Obama keep them in place. I agree that Obama is a failer, because he did not do what he campaigned on, CHANGE! Although because of the state of the economy, and finacial situation, he really had no other options.

    I know, I know, it is not George's fault!
     
  3. Rick Barker

    Rick Barker Well-Known Member

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    Self full filling prophecy

    In addition to the bad economy, people boycotting GM on the account of bailout, therefore your tax dollars were wasted.


    "The public sectors doing fine."
     
  4. BAD 303

    BAD 303 Active Member

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    SF is correct. The dems who had majorities in both houses of congress started the bailout before the buffoon took over. And the dems while owning both houses and the white house continued the money laudering scheme to their union buddies at the taxpayers expense. The scheme has been covered a billion times and the facts have not changed. We the taxpayers have LOST billions to help buy votes of thousands of union members. And some still buy the GM crap. Really sad!
     
  5. Setterman

    Setterman Well-Known Member

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    When Obama was done, it was 80 billion total. GM has paid back 23 billion of the 49 billion they received.

    The Bush approach was stupid (17 billion). The Obama approach was purposeful votes and control, (80 billion) and the bond holders got stuck while the UAW got whole (for now).

    Airline pilots and steel workers didn't get bailed, but face it they had fewer votes and their union wasn't that strong.
     
  6. Stl Flyn

    Stl Flyn Well-Known Member

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    Bad,

    Did you read the article? Why didn't George veto, if it was a bad idea, and against his constituents?
     
  7. Catpower

    Catpower Molon Labe TS Supporters

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    SF read the article too, it says that the Dems wanted the bailout Bush had resisted, so he probably signed it to appease the newly elected community organizer

    The house and senate had enough votes to over turn his veto anyway and they would have, it was almost his last month in office
     
  8. BAD 303

    BAD 303 Active Member

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    Who ever said Bush did the right thing regarding the bailout? The democratic house and senate started this bailout crap and Hussein has followed thru to buy votes. It is that simple. Typical socialist agenda. Spend others money to promote your socialist agenda. Andf the taxpayers act like it is no big deal. They still buy GM vehicles. It is a shame and a travesty on so many levels.
     
  9. The Stive

    The Stive Member

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    We bail them out and they build 7 out of 10 cars outside of the US. How about that for sending jobs out of the country. China will soon be building Caddys.
    I wonder when they will send them over here. We already have them being made
    in Mexico and sold here. We sure got a royal screwing. John
     
  10. oz

    oz Active Member

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    They build 70% of their products IN CHINA (GM CEO) then there's mexico and canada and where else.
     
  11. Stl Flyn

    Stl Flyn Well-Known Member

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    Wha?

    President George W. Bush stepped in Friday to keep America's auto industry afloat, announcing a $17.4 billion bailout for GM and Chrysler, with the terms of the loans requiring that the firms radically restructure and show they can become profitable soon.

    "My economic advisers believe that such a collapse would deal an unacceptably painful blow to hardworking Americans far beyond the auto industry. It would worsen a weak job market and exacerbate the financial crisis," he said. "It could send our suffering economy into a deeper and longer recession."

    Let me ask you resisters and union haters this, what do you think this country would be right now if those automakers where allowed to fail, along with the big banks? Think of the jobs lost! Along with the, I know absolutely horable thought of lost tax revenue. You think this economy is bad now. There would be no economy. GM is singled out as the hated Corporation because of the union workers, I know. What about the mis-management and billions in bonus money that these big bank, and investment company executives robbed your tax money from you in their bailouts. One of the first and the largest mind you, of which went to Goldman Sachs, through AIG, of which really came as a shocker, that the then secretary of the treasury (Henry Paulson), yes, the ex-chairman of Goldman Sachs, was the one asking to be in charge of the bailout funds for which his previous company was to receive. Why is it that this does not piss you off????? Why isn't this on Fox, Limbaugh, and Hanity?

    O.K., so we have a total of $700,000,000,000.00 in bailout of which according to Setterman, GM received a total of $80,000,000,000, and paid back 23,000,000,000 of the $46,000,000,000 they received. Wait, 80, 23, 46, now, I, that does not add up. Just kidding, I know you probably added the stock purchases in there. Anyway, how much of the other $620,000,000,000 has been paid back? Excluding Chrysler's $11,200,000,000 payback of the $12,500,000,000 it received. Why is it we never hear about Chrysler. So, actually how much has been paid back of the remaining bailout money of $608,800,000,000? The answer to that should really piss you off. Reason being that much of it is not being returned and was squandered by greed and obnoxious risk of these so called executives of the largest banks, and investment firms. All of this causing the banks to be wound up tighter than a well diggers a$$ in a North Dakota winter, with their funds, allowing the economy to remain stagnant. Of which it is all still Obama's fault!


    I can't imagine what you guys are thinking right now! Not really. LOL.

    Time for a drink, and Fourth of July celebration to start.

    HAPPY FOURTH OF JULY TO ALL!

    At least go out and celebrate the independence you still think we have left. If any. Jon
     
  12. John Galt

    John Galt TS Member

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    And the award goes to .......


    [​IMG]
     
  13. GW22

    GW22 Active Member

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    30 YRS & OUT -> DEAD 2 ME
     
  14. GW22

    GW22 Active Member

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    Don't forget about the unprecedented government-sanctioned screwing of the bondholders plus the $9-Million pay-off of the "CEO" whose only job was to shut up while the scam took place and leave quietly with his millions the next year. He literally never even moved his residence within 1000 miles of GM headquarters.

    Only in America.

    -Gary
     
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