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Thread: US Lost Ten Billion Dollars on GM Bailout

  1. #31
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by ttwtt78640 View Post
    Most would agree that the other option, letting them pursue bankruptcy, would have cost at least 4 times that amount from lost taxation, UI benefits and added social program spending. The lesson learned should be that too big to fail really means very painful to bail. While the profits are mostly private, the losses are mostly public when big business gets too big.
    And don't forget how they bitched about CEO fatcats getting galactic sized bonuses and umbrellas for ****ing the company up. I wonder how much of that lost $10B went to line union leader pockets and Democrat campaign coffers.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by polgara View Post
    The current storm in your area of the country sure seems to be taking its time moving out! Enjoy your snow day!
    Supposed to be gone midday. Then we dig out.
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

  3. #33
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by American View Post
    And don't forget how they bitched about CEO fatcats getting galactic sized bonuses and umbrellas for ****ing the company up. I wonder how much of that lost $10B went to line union leader pockets and Democrat campaign coffers.
    I am sure that the appropriate thank you gifts were bestowed to the appropriate campaign funds.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    Supposed to be gone midday. Then we dig out.
    It's currently 21 degrees here, but thankfully no new snow or ice forecast for the next couple of days.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by polgara View Post
    It's currently 21 degrees here, but thankfully no new snow or ice forecast for the next couple of days.
    Cold arriving here tonight.
    "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
    Cold arriving here tonight.
    It's just one aggravation after another, isn't it?

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by polgara View Post
    It's just one aggravation after another, isn't it?
    Happens every year about this time.
    "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 ttwtt78640 View Post
    I am sure that the appropriate thank you gifts were bestowed to the appropriate campaign funds.
    :

    Greetings, ttwtt.

  9. #39
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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by Jack Hays View Post
    The US lost $10 billion on the GM bailout. What do you think about that?

    Treasury sells last shares in GM, posts a loss of $10 billion

    Danielle Douglas DEC 9
    The government will lose $10 billion on the deal, which kept the automaker from collapsing.

    "The Treasury Department announced Monday the sale of its remaining shares in General Motors, closing the books on one of the most controversial government interventions of the financial crisis. The government will lose $10 billion on the deal, which kept the automaker from collapsing."
    Well Jack, what I think is the news should also be reporting on GM's financial position as of their last quarterly report.

    I think taxpayers would be interested to know their unfunded pension liability is larger than it was when we bailed them out. I think taxpayers would be interested to know they are showing more debt today than they did two years ago. I could go on and on.

    Earnings Releases - Quarterly Reports & Financial Releases | GM.com

    Of course, we need to remember there were dozens of automobile manufacturers who would have easily stepped in and increased their own production to fill in for the closing of GM globally. Well, maybe not.

    Obviously, nobody would have been interested in manufacturing capacities into the millions, and a global sales and service network in place and in operation. Without those taxpayer dollars, and rewards to the co-conspirators, er, Unions, no doubt the entire Corporation would be nothing but tumbleweeds and spiderwebs by now, with those millions of unemployed auto workers still warming their hands by the trash can fires fueled by broken dreams.

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    Re: US Lost Ten Billion Dollars on GM Bailout

    Quote Originally Posted by ocean515 View Post
    Well Jack, what I think is the news should also be reporting on GM's financial position as of their last quarterly report.

    I think taxpayers would be interested to know their unfunded pension liability is larger than it was when we bailed them out. I think taxpayers would be interested to know they are showing more debt today than they did two years ago. I could go on and on.

    Earnings Releases - Quarterly Reports & Financial Releases | GM.com

    Of course, we need to remember there were dozens of automobile manufacturers who would have easily stepped in and increased their own production to fill in for the closing of GM globally. Well, maybe not.

    Obviously, nobody would have been interested in manufacturing capacities into the millions, and a global sales and service network in place and in operation. Without those taxpayer dollars, and rewards to the co-conspirators, er, Unions, no doubt the entire Corporation would be nothing but tumbleweeds and spiderwebs by now, with those millions of unemployed auto workers still warming their hands by the trash can fires fueled by broken dreams.
    Greetings, Ocean.

    What a dramatic narrative! Ever written a novel?
    "It's always reassuring to find you've made the right enemies." -- William J. Donovan

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