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Thread: US Lost Ten Billion Dollars on GM Bailout

  1. #121
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Again, it would still have been a bailout

    Taxpayer dollars being used to prop up a failed company with no guarantee of being paid back. It could have cost the government (ie taxpayer) $11 billion dollars or more, or less depending on the size of the loan
    It's not the same.

    In the case of a guarantee someone else comes up with the money and the government is only on the hook for a percentage of the total if things go belly up. With a direct loan the money comes out of the tax coffers and we're on the hook for the whole thing if it goes belly up.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    $25 billion?

    The government lost $10 billion according to the OP
    There was another $15B of tax loss carryover benefits that would normally have been lost through a normal bankruptcy proceeding...
    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...
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Sure it could have, but you have not listed any potential companies that would have taken the risk or would have had access to the money to do so
    There would have been dozens, depending on price. They never had the chance.
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Considering the probably costs of letting GM close, 11 billion is not bad

    The cost would be, increased medicare and Medicaid bills, welfare and UI payments not just to GM workers and retirees, but to dealership and suppliers as well
    Except would GM have actually dissolved? I highly doubt that, what is more likely is those sweetheart labor deals wouldn't have been so sweetly protected.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    I think Born Free's #86 sums it up quite well. Nothing further required from me.
    So, now you're saying the following post is BS?

    Quote Originally Posted by Jack Hays View Post
    Moody's is linked to investors. Of course they want to avoid bankruptcy. Just protecting the BHO gang's financiers.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by pbrauer View Post
    So, now you're saying the following post is BS?


    On the contrary, the two fit together very snugly.
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by ReformCollege View Post
    Except would GM have actually dissolved? I highly doubt that, what is more likely is those sweetheart labor deals wouldn't have been so sweetly protected.
    Without government money being involved GM would not likely have survived. With a lot of government guarantees it probably would have but the government still could have lost a lot of money
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Without government money being involved GM would not likely have survived. With a lot of government guarantees it probably would have but the government still could have lost a lot of money
    Could have is a lot better than did...
    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...
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Without government money being involved GM would not likely have survived. With a lot of government guarantees it probably would have but the government still could have lost a lot of money
    Even so, why didn't they at least wait until it declared bankruptcy to bail it out? Oh wait, those pesky unions again......

    The union deals should have been restructured. Do I think the unions caused all of GM's problems? Probably not. But if they are going to continue and continue to renegotiate and demand wage hikes and benefit hikes during the good times because "the workers make the company" then I think they deserve blame when the company goes under.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Lord Tammerlain View Post
    Considering the probably costs of letting GM close, 11 billion is not bad

    The cost would be, increased medicare and Medicaid bills, welfare and UI payments not just to GM workers and retirees, but to dealership and suppliers as well
    The other car companies would have picked up the slack. That being said, I recall the government forcing several Chrysler dealerships to close.
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