Crazy Barry`s Car Clear-Out!

Submitted by: 5cats 4 years ago in

Get your own bailout from GM! Government Motors that is! Get them before new managment takes over on Nov 7th!
There are 19 comments:
Male 267
Why is GM still around? biggest piles of sh*t. Buy import, save yourself in the long run.
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Female 80
looks like a commercial in TN lol
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Male 1,735
Bailouts are a terrible idea. Specially when a company has been around as long as GM and has made enough profit to keep the business a float through years of not selling anything. Of course that would mean not dividing the profit every quarter so the company doesn`t go bankrupt from a bad year. If they can`t manage their own business that`s their problem, shouldn`t be the tax payers problem. Just my two cents on it.
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Male 17,511
5Cats: GM has been wanting to buy back that government owned stock for over year. Obama won`t allow the sale. Why? Because with that much stock the government has a seat at GM`s board, has a say in what cars are made, how they negotiate with unions and how they run their business.
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Male 40,751
It wasn`t "a loan" he just handed over piles of cash! Oh, in exchange for "stocks" which were bought at MASSIVELY inflated prices...
And the White House illegally circumvented the LAW to allow GM to `shaft` it`s stock and credit holders, while giving the Unions ALL they were due...
GM used that FREE MONEY to "repay" TARP.
Yes, that`s correct: GM used government grants to repay it`s goverment TARP loan...

Edumicate yourself, plz!
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Male 40,751
@Nageki: Lookie Here Y`all

And don`t spam the boards, k-thx.

@doug1963: Sweet Mother Of Jesus! How much WRONG can you get in one post!!!

Wiki Says: GM Bailout

Bush sent money from TARP. As a `lame duck` Obama had to re-approve this once he too office.
March 30 2009: Obama gave them 60 more days to come up with a plan, he didn`t say "NO!"

Under Obama`s plan, GM got whacks of taxpayer money!
"A White House report sent to Congress in August 2012 estimated the sale of the remaining G.M. stock acquired by the United States Treasury during the company`s bankruptcy will result in a loss of $25.1 billion to the American taxpayer"
&a
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Male 347
Some fact checking is in order here:

On December 19, 2008, Bush approved a loan to GM and Chrysler totalling $13.4B. On March 30, 2009, GM asked Obama for more and he said NO. They subsequently declared Chapter 11. On April 21, 2010, GM announced it had repaid the loan with interest. GM had $40B cash in hand at the time.

This in no way turned out bad for the government, and Obama had little to do with it, other than not risk more of the government`s money.
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Male 110
Um... I posted this before, but why does a Canadian, yes you 5Cats, give a rat`s ass about American politics?
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Male 1,471
What is it about economics that confuses people so much ?.. Bailing out GM was obviously the best thing to do. That, along with the wall street bail outs is what kept the economic downturn from becoming a full on depression. It may not be perfect capitalism, but it`s by far the best course of action, both for the economy and for society as a whole. It`s not that hard to understand.

"It doesn`t matter whether it`s a white cat or a black, I think; a cat that catches mice is a good cat."
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Male 40,751
@turdy-b: I almost got to be a Mod, but another Mod came out of semi-retirement insted. Probably for the better!

@jendrain: Thanks! It`s similar to many funny videos about anti-Bush from his term. I laughed at those just as much! (not made by this group of course)

@tseimens: Exactly! If proper LEGAL procedures had been followed, it wouldn`t have been too much worse, taxpayers wouldn`t have paid so much AND investors and credit holders wouldn`t have been F`D over!
Sure it would have been rough, but HUNDREDS of other huge companies have been though it and prospered, without the taxpayer footing the bill...
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Male 514
exactly why I would never buy a GM again - I will not support a socialist gov`t practice like a bail out, real capitalism would allow a failed company to fail.
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Male 2,516
hahaha that was hilarious
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Male 4,891

I think fancy has turned over the keys and surrendered IAB to 5cats.
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Male 40,751
Yee-haa! Sherrif Joe Biden!

"Cash for Clunkers" written on the window = win!
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Male 535
Waiting patiently for the mass exodus of truth & logic from the right-wing FoxBot drones after the election when Obama soundly drubs Romney. The conspiracy theories alone will be better than anything on TV...
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Male 512
Keep on watching your fact-free cartoons, hate wingers. Wednesday`s posts are going to be fun!
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Male 10,855
Out b4 liberal freakout.
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Male 15,261
I`d buy one. If it was German.
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Male 40,751
Link: Crazy Barry`s Car Clear-Out! [Rate Link] - Get your own bailout from GM! Government Motors that is! Get them before new managment takes over on Nov 7th!
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