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Thread: TARP Audit Questions Rush to Close Auto Dealers

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    TARP Audit Questions Rush to Close Auto Dealers

    You mean, closing a buncha car dealers, whilst trying to prop-up the auto industry wasn't a good idea?!? No way!!!!!!

    Is Obama just a dumbass, or is he ****ing things up on purpose? Those are really the only two options.

    DETROIT — President Obama’s auto task force pressed General Motors and Chrysler to close scores of dealerships without adequately considering the jobs that would be lost or having a firm idea of the cost savings that would be achieved, an audit of the process has concluded.

    The report by Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program of the Treasury Department, said both carmakers needed to shut down some underperforming dealerships. But it questioned whether the cuts should have been made so quickly, particularly during a recession. The report, released on Sunday, estimated that tens of thousands of jobs were lost as a result.
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    I don't want to give them a reason to discredit your report so here is the link:

    http://www.nytimes.com/2010/07/19/bu...html?src=busln

    And the new york times too, ouch, that takes away the lefts biggest bombshells, that it's a "right wing website" so they can discredit it without having to actually confront the issue. Not this time!

    I can't wait to see how they try to crawfish out of this one. Or will they finally admit Obama is the biggest ****up this nation has ever seen?

    Stay tuned to find out!
    Last edited by dontworrybehappy; 07-20-10 at 03:03 AM.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by dontworrybehappy View Post
    I don't want to give them a reason to discredit your report so here is the link:

    http://www.nytimes.com/2010/07/19/bu...html?src=busln

    And the new york times too, ouch, that takes away the lefts biggest bombshells, that it's a "right wing website" so they can discredit it without having to actually confront the issue. Not this time!

    I can't wait to see how they try to crawfish out of this one. Or will they finally admit Obama is the biggest ****up this nation has ever seen?

    Stay tuned to find out!
    Check the breaking news section

    GM and Chyrsler were closing dealerships before the crisis and would have liked to close more before, but could afford it. The bankruptcy allowed them to break contracts and close the ones they wanted without financial penalty.

    Unless you like having government money support unproductive workers at car dealerships, this was a good move
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Lord Tammerlain View Post
    Check the breaking news section

    GM and Chyrsler were closing dealerships before the crisis and would have liked to close more before, but could afford it. The bankruptcy allowed them to break contracts and close the ones they wanted without financial penalty.

    Unless you like having government money support unproductive workers at car dealerships, this was a good move
    So putting people out of work during an economic down turn is a good move huh? Is that so they can become dependent on extended unemployment benefits or was there some other benefit I'm missing?
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    So putting people out of work during an economic down turn is a good move huh? Is that so they can become dependent on extended unemployment benefits or was there some other benefit I'm missing?
    The whole move was to prevent a bankruptcy of GM and Chrysler. It worked.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Ah the joys of corporatism. Such a wonderful economy we have right now.
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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by roughdraft274 View Post
    The whole move was to prevent a bankruptcy of GM and Chrysler. It worked.
    The government take over of GM and Chrysler is what prevented the bankruptcy - not the premature closing of dealerships. As the saying goes; "Money talks, bull**** walks". Government ponied up the money, took controlling share and used tax dollars to do it. I see nothing that suggests closing dealerships prevented the bankruptcy. Please post the information that proves your conclusion - as I'd like to read it.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by Ockham View Post
    The government take over of GM and Chrysler is what prevented the bankruptcy - not the premature closing of dealerships. As the saying goes; "Money talks, bull**** walks". Government ponied up the money, took controlling share and used tax dollars to do it. I see nothing that suggests closing dealerships prevented the bankruptcy. Please post the information that proves your conclusion - as I'd like to read it.
    They're overall goal was to make GM profitable and competitive. They've succeeded in my opinion, and I didn't think they would. People are trying to make this a bigger deal than this really is. From the source you posted:
    The report by Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program of the Treasury Department, said both carmakers needed to shut down some underperforming dealerships. But it questioned whether the cuts should have been made so quickly,
    This was something that was needed. It sucks that those people lost they're jobs, but they were going to lose them anyway and potentially if they didn't do this many more would lose they're jobs.

    They did what was needed and prudent. To bash the president because a report is claiming "well maybe it would have been better to wait a few months and then close the dealerships down" is silly. Even the report says that this needed to be done.

    EDIT: Sorry, i meant from the original article, not from the source you posted. My mistake.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Issue has already been discussed (or is being discussed) over in this thread.

    Actually, GM still went into banruptcy, just Chapter 11 which allowed them to restructure their debts vice Chapter 7 which would have forced them to close their doors.

    The point here is the government didn't force GM or Chrysler to close these dealerships, and if people would take just alittle bit of time to review the facts of the matter what they'd learn is that the government actually reduced the number of dealerships these auto companies were trying to close! So, as much a folks would like to think this is all the government's fault, the reality is they saved GM/Chrysler jobs while giving them a "loan" to keep an American auto company solvent which allowed them to restructure and remain competitive. ALOT more jobs would have been lost otherwise.
    Last edited by Objective Voice; 07-20-10 at 01:07 PM.

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    Re: TARP Audit Questions Rush to Close Auto Dealers

    Quote Originally Posted by roughdraft274 View Post
    They're overall goal was to make GM profitable and competitive. They've succeeded in my opinion, and I didn't think they would. People are trying to make this a bigger deal than this really is. From the source you posted:

    This was something that was needed. It sucks that those people lost they're jobs, but they were going to lose them anyway and potentially if they didn't do this many more would lose they're jobs.

    They did what was needed and prudent. To bash the president because a report is claiming "well maybe it would have been better to wait a few months and then close the dealerships down" is silly. Even the report says that this needed to be done.

    EDIT: Sorry, i meant from the original article, not from the source you posted. My mistake.
    Sokay. But nothing you posted proves the closing of dealerships prevented the bankruptcy.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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