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Thread: Taxpayers likely to face initial loss on GM IPO-sources

  1. #31
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    j-mac's Avatar
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by winston53660 View Post
    To short sell or not, I know there is some money to be made here one way or the other.
    Ask Soros


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  2. #32
    Pragmatic Idealist
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by j-mac View Post
    Oh yes liberals, keep touting how well GM is doing thanks to Obama....a loss on opening IPO....Bailout open for years....Yeah, very good.....


    j-mac
    You cannot have this both ways. If you are going to complain about the $3.5T in spending, of which the TARP funds were $245B, including the $50B in bailout money paid to GM, then you cannot complain that the government will have a mark-to-market "loss", as you have already expensed the money. Getting back $1.00 is a profit if your personal accounting (and the government accounting) already expensed the outlay. EVERYTHING or ANYTHING recoverable is "profit" on a future budget (that is if you want to argue with intellectually honesty that that the $1.5T short-fall on the 2009 budget is a problem. The fact is that the government already received $7B in repayment of loans, leaving $43B (which, by previous argument has been expenses) for a 60% stake in GM. As the article points out, the current market cap of GM is between $50 and $90, with a full recoupment market cap of $72B (=$43B/.6).... again, given the Regressives argument that we had a $1.5T budget deficit, all of the money is a sunk cost, therefore all of the return is profit. For those of us that get these things, the GM transaction will probably be a wash in the direct accounting, but a hugely great thing given that it saved the rust belt from diving into a deep, deep depression with considerable, if not insurmountable, cost.

    The fact of the matter is that the government will get somewhat to substantially all to all plus back. This turned out to be a good deal overall. If only Iraq made this much economic sense.

  3. #33
    Cynical Optimist
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by USA-1 View Post
    If it's on a blog it must be true.
    You can always dispute the claims in the article with some facts.

  4. #34
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by j-mac View Post
    Oh yes liberals, keep touting how well GM is doing thanks to Obama....a loss on opening IPO....Bailout open for years....Yeah, very good.....


    j-mac
    Can you at least admit that this is a better outcome than conservatives were saying when the govern met bailed them out? Compared to all the other programs to save/create jobs, this one worked out not so bad. Even if they were those nasty union jobs, they were jobs - you know, those things that conservatives are complaining that we don't have enough of.

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