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Thread: GM Pays off its Bailout Loans

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Jetboogieman View Post
    You know what this means, don't you?

    Michele Bachmann has to drop "government takeover of the auto industry" from her list of moronic talking points.

    Apparently in her little teabrain, any time the federal government supports a specific company to avoid potentially devastating unemployment, poverty etc.-- that a 'takeover'.

    Does that mean we invaded and took over Haiti?

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Dezaad View Post
    While I wasn't aware that there was first a loan that was converted to an equity stake, it makes no difference. It is still a fact that GM is under no obligation to pay the 43Billion and does not intend to. It is still a fact that we will sell the equity on the open stock market, and that whatever we get for selling those shares is all that we will get toward the 43 Billion. Whatever it was to start with, it is no longer a loan.
    True. The equity portion the U.S. and Canadian governments took back from the remaining $43B won't be paid back in cash w/interest, but I think that as long as the government keeps pressure on GM to do what it's suppose to do - make good, quality cars the people want - and the price of their stock increases in value beyond what it was up until the government took 60% ownership in the company, the taxpayers will get their money back when the stock is sold.

    I agree...it's a big risk, but as long as the stock's value goes up OR the stock splits and still increases in value, all will be just fine.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Objective Voice View Post
    True. The equity portion the U.S. and Canadian governments took back from the remaining $43B won't be paid back in cash w/interest, but I think that as long as the government keeps pressure on GM to do what it's suppose to do - make good, quality cars the people want - and the price of their stock increases in value beyond what it was up until the government took 60% ownership in the company, the taxpayers will get their money back when the stock is sold.

    I agree...it's a big risk, but as long as the stock's value goes up OR the stock splits and still increases in value, all will be just fine.
    I fully agree with you. People here have been trying to say that GM somehow is obligated or expected to pay back the 43 billion. I have been saying that they are NOT. I have also said I expect that we will likely make back close to the 43 billion and perhaps more, when we sell the shares of ownership.

    I imagine this is probably due to their listening to rabid right wingers who would like to make it SEEM like GM is not living up to its obligations, so as to make all this out to already be a failure.

    Evaluations as to whether it is a success or failure are premature. I won't judge this until we actually do sell the stock and recover our investment. If we sell the stock and recover 35 Billion in stock sales, I will consider the effort to have been successful toward the goal of mitigating a part of the financial crisis that we clawing our way out of. If we sell the shares for more than 43 Billion, I'll be dancing in the streets and rubbing the rabid right wingers noses in it.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Dezaad View Post
    While I wasn't aware that there was first a loan that was converted to an equity stake, it makes no difference. It is still a fact that GM is under no obligation to pay the 43Billion and does not intend to. It is still a fact that we will sell the equity on the open stock market, and that whatever we get for selling those shares is all that we will get toward the 43 Billion. Whatever it was to start with, it is no longer a loan.
    Correct it is not a loan. Many people consider it a very expensive payback to the unions which helped Obama get elected.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Objective Voice View Post
    True. The equity portion the U.S. and Canadian governments took back from the remaining $43B won't be paid back in cash w/interest, but I think that as long as the government keeps pressure on GM to do what it's suppose to do - make good, quality cars the people want - and the price of their stock increases in value beyond what it was up until the government took 60% ownership in the company, the taxpayers will get their money back when the stock is sold.

    I agree...it's a big risk, but as long as the stock's value goes up OR the stock splits and still increases in value, all will be just fine.
    Funny that you folks compalin about a " bailout for banks" which was reallt a ripoff of most of the banks. But the money we threw at GM is fine.

    Seems to show that the concern is not government guarentees, but if the money goes into the pockets of political friends.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by washunut View Post
    Correct it is not a loan. Many people consider it a very expensive payback to the unions which helped Obama get elected.
    Unless it ends up not costing us anything, which it might not. We just can't know, yet.

    So, you're clearly mad that these hard working Americans had their jobs preserved during a economic meltdown. Why? Because they are a union? You would rather they were punished for being a union, I take it. Let them suffer cuz it's unfair that they were earning so much money dammit!!

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    Re: GM Pays off its Bailout Loans

    Looks like all this paying back of loans may be B.S.:

    "...GM [is] misleading taxpayers about the loan repayment, saying the struggling auto giant was able to repay a $6.7 billion bailout loan only by using other bailout funds in a special escrow account."


    FOXNews.com - GM Could Be in Hot Water With FTC Over Truth in Advertising

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Dezaad View Post
    Unless it ends up not costing us anything, which it might not. We just can't know, yet.

    So, you're clearly mad that these hard working Americans had their jobs preserved during a economic meltdown. Why? Because they are a union? You would rather they were punished for being a union, I take it. Let them suffer cuz it's unfair that they were earning so much money dammit!!
    If you understand business then you know that the people working in the factories would have kept their jobs. The company would have gone into bankruptcy and been reorganized.

    Don't try to play mindreader, you are not good at it. I am tired with the government playing who wins and loses.

    I am mad because people are very willing to " spend" money they don't have on noble causes. I will be a lot more impressed when this administration and its supporters tell us we need to do X, therefore we need a surcharge on everyone's taxes on Y dollars. If we get the money back we will refund it.

    Just so you know I said the same thing about Reagan and his tax cuts.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by texmaster View Post
    Read the definition of loan again.
    Uh, not quite. I do believe that the equity stake in GM is preferred stock, which under some circumstances is like debt. However, GM does not have to call the preferred stock if it does not want to. Unlike a bond, GM can sit on that preferred stock as long as it wants to. Sure the rates are insane considering, but the equity stake of preferred does not allow the government to force payment. So in that aspect, it is not a loan.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by washunut View Post
    Funny that you folks compalin about a " bailout for banks" which was reallt a ripoff of most of the banks. But the money we threw at GM is fine.

    Seems to show that the concern is not government guarentees, but if the money goes into the pockets of political friends.
    Us folks I think mostly complained that we did not like any of the bailouts, but that the alternative was worse.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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