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Thread: US Lost Ten Billion Dollars on GM Bailout

  1. #101
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Where was the money going to come from?

    The banks which were getting money from the government in the first place? Use government bailout money from the banks to fund a private bailiout of GM?
    The price falls until a buyer comes forward -- no matter how low it goes.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    That was a cruel question. I have already transitioned to the NBA. Which will you dislike more: a nonSEC national champion or Auburn?
    I will always root for the conference no matter how wretched the stench might be in doing so...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

  3. #103
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    The price falls until a buyer comes forward -- no matter how low it goes.
    The buyer does not always buy the bankrupt company to keep it in operation. But to shut it down and sell the land, and IP rights. With everything else being sold for scrap
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by AlabamaPaul View Post
    Oh, oh, can I answer? The same way Chrysler was bailed out previously, with loans guaranteed by the government, not by the government screwing over the bond holders to the benefit of the unions by taking over the company...
    So you would have like a different kind of government bailout,
    Happy Hanukkah Cheerfull Kwanzaa
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  5. #105
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    So you would have like a different kind of government bailout,
    Yes, I would have preferred one that honored existing bankruptcy precedent and law...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

  6. #106
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    The buyer does not always buy the bankrupt company to keep it in operation. But to shut it down and sell the land, and IP rights. With everything else being sold for scrap
    Relieved of its debt, GM was a fine bargain that would have attracted buyers.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by AlabamaPaul View Post
    Yes, I would have preferred one that honored existing bankruptcy precedent and law...
    But you don't mind that government money would have been used
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

  8. #108
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    But you don't mind that government money would have been used
    There is a huge difference between loan guarantees and a direct takeover...
    I don't often change my signature, but this was just too over the top to let anyone forget with what this country is up against...
    Quote Originally Posted by James D Hill View Post
    I am for gay marriage because it ticks off Jesus freaks and social conservatives. Gays are also good voters because the vote for my side so I fight next to them.

  9. #109
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    So you would have like a different kind of government bailout,
    There's a HUGE difference between a government secured loan and direct lending by the government. It's kind of like the difference between getting an FHA mortgage and getting a student loan.

  10. #110
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    Relieved of its debt, GM was a fine bargain that would have attracted buyers.
    That is if GM could have survived that long. Suppliers would not provide GM with parts, workers would not work, contractors would not do any work if they were not getting paid. The bankruptcy would have lasted under normal bankruptcy conditions for years, and suppliers and workers (salary and factory) would want to get paid. Where was that money going to come from in 2008
    Happy Hanukkah Cheerfull Kwanzaa
    Happy Christmas Merry New Year Festivus for the rest of us

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