 Sloppy1
Male, 18-29, Canada
 265 Posts
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Monday, November 05, 2012 5:38:24 PM
Why is GM still around? biggest piles of sh*t. Buy import, save yourself in the long run. |
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 soundchic41
Female, 18-29, Eastern US
76 Posts
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Monday, November 05, 2012 4:40:49 PM
looks like a commercial in TN lol |
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 EgalM
Male, 18-29, Canada
1667 Posts
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Monday, November 05, 2012 8:00:55 AM
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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 CrakrJak
Male, 40-49, Midwest US
14374 Posts
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Sunday, November 04, 2012 11:09:38 PM
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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 5Cats
Male, 40-49, Canada
16960 Posts
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Sunday, November 04, 2012 10:34:56 PM
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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5Cats
Male, 40-49, Canada
16960 Posts
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Sunday, November 04, 2012 10:30:15 PM
@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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 doug1963aaa
Male, 40-49, Southern US
347 Posts
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Sunday, November 04, 2012 5:48:33 PM
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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 Nageki
Male, 30-39, Western US
89 Posts
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Sunday, November 04, 2012 5:05:58 PM
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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 Kain1
Male, 18-29, Europe
1283 Posts
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Sunday, November 04, 2012 4:59:02 PM
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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5Cats
Male, 40-49, Canada
16960 Posts
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Sunday, November 04, 2012 4:31:42 PM
@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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 tsiemens
Male, 30-39, Canada
432 Posts
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Sunday, November 04, 2012 2:58:05 PM
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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 jendrian
Male, 18-29, Canada
2353 Posts
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Sunday, November 04, 2012 1:50:28 PM
hahaha that was hilarious |
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 turdburglar
Male, 30-39, Western US
1816 Posts
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Sunday, November 04, 2012 12:53:01 PM
I think fancy has turned over the keys and surrendered IAB to 5cats. |
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5Cats
Male, 40-49, Canada
16960 Posts
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Sunday, November 04, 2012 12:37:02 PM
Yee-haa! Sherrif Joe Biden!
"Cash for Clunkers" written on the window = win! |
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 Magickrat
Male, 40-49, Eastern US
332 Posts
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Sunday, November 04, 2012 12:10:13 PM
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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 Mad_Gremlyn
Male, 18-29, Western US
325 Posts
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Sunday, November 04, 2012 11:13:58 AM
Keep on watching your fact-free cartoons, hate wingers. Wednesday's posts are going to be fun! |
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 Cajun247
Male, 18-29, Southern US
9438 Posts
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Sunday, November 04, 2012 11:02:25 AM
Out b4 liberal freakout. |
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 Draculya
Male, 30-39, Asia
6326 Posts
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Sunday, November 04, 2012 10:50:47 AM
I'd buy one. If it was German. |
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5Cats
Male, 40-49, Canada
16960 Posts
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Sunday, November 04, 2012 10:36:17 AM
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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