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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Obama earned the American people -$10,500,000,000.00
Posted by:
Wk4jw
()
Date: December 10, 2013 12:26AM
That's a $10.5 billion loss. Take that wingnuts. Think how much money we'll save not having to store all those dollars.
http://www.washingtonpost.com/business/government-sells-remaining-stake-in-gm/2013/12/09/7f18f698-611a-11e3-a7b4-4a75ebc432ab_story.html
http://www.washingtonpost.com/business/government-sells-remaining-stake-in-gm/2013/12/09/7f18f698-611a-11e3-a7b4-4a75ebc432ab_story.html
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
not bad
()
Date: December 10, 2013 12:40AM
The auto bailout was part of the Troubled Asset Relief Program, with the bulk of the money going to financial institutions. Treasury said it spent $421.8 billion on bailouts and so far has recovered $432.7 billion, including the loss on GM.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Econ101
()
Date: December 10, 2013 12:57AM
not bad Wrote:
-------------------------------------------------------
> The auto bailout was part of the Troubled
> Asset Relief Program, with the bulk of the money
> going to financial institutions. Treasury said it
> spent $421.8 billion on bailouts and so far has
> recovered $432.7 billion, including the loss on
> GM.
Most of the 'loans' that the US made money off of were made under the Bush administration. GM's Treasury loan was done under the Obama administration.
And it doesn't really matter what other guaranteed loans earned, GM was a horrible investment. They should have been allowed to fail and restructure normally like every other corporation that has filed bankruptcy. They were saved, however because of the unions. And the taxpayer got to pay for that.
And they'll continue to need a handout because they produce crappy vehicles. And why change? Uncle Sam will be there to bail them out the next time too.
-------------------------------------------------------
> The auto bailout was part of the Troubled
> Asset Relief Program, with the bulk of the money
> going to financial institutions. Treasury said it
> spent $421.8 billion on bailouts and so far has
> recovered $432.7 billion, including the loss on
> GM.
Most of the 'loans' that the US made money off of were made under the Bush administration. GM's Treasury loan was done under the Obama administration.
And it doesn't really matter what other guaranteed loans earned, GM was a horrible investment. They should have been allowed to fail and restructure normally like every other corporation that has filed bankruptcy. They were saved, however because of the unions. And the taxpayer got to pay for that.
And they'll continue to need a handout because they produce crappy vehicles. And why change? Uncle Sam will be there to bail them out the next time too.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Liberal Logic 35
()
Date: December 10, 2013 01:15AM
Econ101 Wrote:
-------------------------------------------------------
> Most of the 'loans' that the US made money off of
> were made under the Bush administration. GM's
> Treasury loan was done under the Obama
> administration.
Not to mention without the AIG success they would have lost money overall.
> And they'll continue to need a handout because
> they produce crappy vehicles. And why change?
> Uncle Sam will be there to bail them out the next
> time too.
Which is the real reason not to do it. They failed largely because the unions wouldnt give an inch and had gotten pensions they could never afford. Part of it was the governments fault with the average mile per gallon making them make crappy cars no one wanted with good gas mileage to off set the SUVs which actually were doing well.
But they arent an essential aspect like a bank is. They should have had the same treatment everyone else did. It was nothing more than making tax payers pay for campaign spending to appease the unions and secure their votes.
-------------------------------------------------------
> Most of the 'loans' that the US made money off of
> were made under the Bush administration. GM's
> Treasury loan was done under the Obama
> administration.
Not to mention without the AIG success they would have lost money overall.
> And they'll continue to need a handout because
> they produce crappy vehicles. And why change?
> Uncle Sam will be there to bail them out the next
> time too.
Which is the real reason not to do it. They failed largely because the unions wouldnt give an inch and had gotten pensions they could never afford. Part of it was the governments fault with the average mile per gallon making them make crappy cars no one wanted with good gas mileage to off set the SUVs which actually were doing well.
But they arent an essential aspect like a bank is. They should have had the same treatment everyone else did. It was nothing more than making tax payers pay for campaign spending to appease the unions and secure their votes.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Gerrymanderer2
()
Date: December 10, 2013 02:10AM
This is not to mention that the auto industry pays billions in taxes every year and represents over a million jobs. Parts suppliers, what have you. They're the back bone of American industry and truly too big to fail.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
oldlady.
()
Date: December 10, 2013 03:29AM
Garrrrrr i'm the mean old lady arggghhh i dont care about facts just know im right cause the huffppost says so garrr theres millions of us were all crazy and make no sense but we sure know how to scream and shout when we dont get our way garrrrhh we are the party of tolerance and hate i mean tolerance and something else garrrhhh so mad cant sleep cant eat just be mad at everything all the time garrrrrrrrrr
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
coolbro
()
Date: December 10, 2013 07:40AM
Groooooovy
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Gerrymanderer2
()
Date: December 16, 2013 02:02PM
GM is now in a position to and is planning on investing 1.3 billion dollars in new plants for new state of the art engines and transmissions right here in the USA.
GM says it will create 1000 new secure well paying jobs.
http://www.business-standard.com/article/pti-stories/gm-to-invest-usd-1-3b-in-5-factories-113121601233_1.html
GM says it will create 1000 new secure well paying jobs.
http://www.business-standard.com/article/pti-stories/gm-to-invest-usd-1-3b-in-5-factories-113121601233_1.html
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
ColumnNo.4
()
Date: December 16, 2013 02:09PM
Econ101 Wrote:
-------------------------------------------------------
> not bad Wrote:
> --------------------------------------------------
> -----
> > The auto bailout was part of the Troubled
> > Asset Relief Program, with the bulk of the
> money
> > going to financial institutions. Treasury said
> it
> > spent $421.8 billion on bailouts and so far has
> > recovered $432.7 billion, including the loss on
> > GM.
>
>
> Most of the 'loans' that the US made money off of
> were made under the Bush administration. GM's
> Treasury loan was done under the Obama
> administration.
>
> And it doesn't really matter what other guaranteed
> loans earned, GM was a horrible investment. They
> should have been allowed to fail and restructure
> normally like every other corporation that has
> filed bankruptcy. They were saved, however
> because of the unions. And the taxpayer got to
> pay for that.
>
> And they'll continue to need a handout because
> they produce crappy vehicles. And why change?
> Uncle Sam will be there to bail them out the next
> time too.
Yet another pathetic attempt to blame unions. They received the bailout because they're a big corporation and their collapse would have impacted the economy greatly.
-------------------------------------------------------
> not bad Wrote:
> --------------------------------------------------
> -----
> > The auto bailout was part of the Troubled
> > Asset Relief Program, with the bulk of the
> money
> > going to financial institutions. Treasury said
> it
> > spent $421.8 billion on bailouts and so far has
> > recovered $432.7 billion, including the loss on
> > GM.
>
>
> Most of the 'loans' that the US made money off of
> were made under the Bush administration. GM's
> Treasury loan was done under the Obama
> administration.
>
> And it doesn't really matter what other guaranteed
> loans earned, GM was a horrible investment. They
> should have been allowed to fail and restructure
> normally like every other corporation that has
> filed bankruptcy. They were saved, however
> because of the unions. And the taxpayer got to
> pay for that.
>
> And they'll continue to need a handout because
> they produce crappy vehicles. And why change?
> Uncle Sam will be there to bail them out the next
> time too.
Yet another pathetic attempt to blame unions. They received the bailout because they're a big corporation and their collapse would have impacted the economy greatly.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
ColumnNo.4
()
Date: December 16, 2013 02:12PM
Liberal Logic 35 Wrote:
-------------------------------------------------------
> Econ101 Wrote:
> --------------------------------------------------
> -----
>
> > Most of the 'loans' that the US made money off
> of
> > were made under the Bush administration. GM's
> > Treasury loan was done under the Obama
> > administration.
>
> Not to mention without the AIG success they would
> have lost money overall.
>
> > And they'll continue to need a handout because
> > they produce crappy vehicles. And why change?
> > Uncle Sam will be there to bail them out the
> next
> > time too.
>
> Which is the real reason not to do it. They
> failed largely because the unions wouldnt give an
> inch and had gotten pensions they could never
> afford. Part of it was the governments fault with
> the average mile per gallon making them make
> crappy cars no one wanted with good gas mileage to
> off set the SUVs which actually were doing well.
>
>
> But they arent an essential aspect like a bank is.
> They should have had the same treatment everyone
> else did. It was nothing more than making tax
> payers pay for campaign spending to appease the
> unions and secure their votes.
Shameful. The union impact was marginal. US automakers make shit cars overall. Their "new" models are comprised from the leftovers of previous models, their gas mileage I pathetic in comparison to some other western countries and they're overpriced for what you get. GM failed because the CEO doubled down on the Hummer despite the fact that his advisors notified him of customer shift away from large SUVs.
-------------------------------------------------------
> Econ101 Wrote:
> --------------------------------------------------
> -----
>
> > Most of the 'loans' that the US made money off
> of
> > were made under the Bush administration. GM's
> > Treasury loan was done under the Obama
> > administration.
>
> Not to mention without the AIG success they would
> have lost money overall.
>
> > And they'll continue to need a handout because
> > they produce crappy vehicles. And why change?
> > Uncle Sam will be there to bail them out the
> next
> > time too.
>
> Which is the real reason not to do it. They
> failed largely because the unions wouldnt give an
> inch and had gotten pensions they could never
> afford. Part of it was the governments fault with
> the average mile per gallon making them make
> crappy cars no one wanted with good gas mileage to
> off set the SUVs which actually were doing well.
>
>
> But they arent an essential aspect like a bank is.
> They should have had the same treatment everyone
> else did. It was nothing more than making tax
> payers pay for campaign spending to appease the
> unions and secure their votes.
Shameful. The union impact was marginal. US automakers make shit cars overall. Their "new" models are comprised from the leftovers of previous models, their gas mileage I pathetic in comparison to some other western countries and they're overpriced for what you get. GM failed because the CEO doubled down on the Hummer despite the fact that his advisors notified him of customer shift away from large SUVs.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Gerrymanderer2
()
Date: December 16, 2013 02:14PM
Column, stop quoting the fuck out of threads. No one gives a fuck what you think.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Gerrymanderer2
()
Date: December 16, 2013 02:14PM
.
Edited 1 time(s). Last edit at 12/16/2013 02:15PM by Gerrymanderer2.
Edited 1 time(s). Last edit at 12/16/2013 02:15PM by Gerrymanderer2.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
Cu4Uu
()
Date: December 16, 2013 02:15PM
ColumnNo.4 Wrote:
-------------------------------------------------------
> Econ101 Wrote:
> --------------------------------------------------
> -----
> > not bad Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > The auto bailout was part of the Troubled
> > > Asset Relief Program, with the bulk of the
> > money
> > > going to financial institutions. Treasury
> said
> > it
> > > spent $421.8 billion on bailouts and so far
> has
> > > recovered $432.7 billion, including the loss
> on
> > > GM.
> >
> >
> > Most of the 'loans' that the US made money off
> of
> > were made under the Bush administration. GM's
> > Treasury loan was done under the Obama
> > administration.
> >
> > And it doesn't really matter what other
> guaranteed
> > loans earned, GM was a horrible investment.
> They
> > should have been allowed to fail and
> restructure
> > normally like every other corporation that has
> > filed bankruptcy. They were saved, however
> > because of the unions. And the taxpayer got to
> > pay for that.
> >
> > And they'll continue to need a handout because
> > they produce crappy vehicles. And why change?
> > Uncle Sam will be there to bail them out the
> next
> > time too.
>
> Yet another pathetic attempt to blame unions.
> They received the bailout because they're a big
> corporation and their collapse would have impacted
> the economy greatly.
Not really. Mostly they got the bailout to save the pension plans. The company itself could have operated otherwise but the pensions would have been done and we'd have ended up paying for that one way or another. Which we probably still will.
-------------------------------------------------------
> Econ101 Wrote:
> --------------------------------------------------
> -----
> > not bad Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > The auto bailout was part of the Troubled
> > > Asset Relief Program, with the bulk of the
> > money
> > > going to financial institutions. Treasury
> said
> > it
> > > spent $421.8 billion on bailouts and so far
> has
> > > recovered $432.7 billion, including the loss
> on
> > > GM.
> >
> >
> > Most of the 'loans' that the US made money off
> of
> > were made under the Bush administration. GM's
> > Treasury loan was done under the Obama
> > administration.
> >
> > And it doesn't really matter what other
> guaranteed
> > loans earned, GM was a horrible investment.
> They
> > should have been allowed to fail and
> restructure
> > normally like every other corporation that has
> > filed bankruptcy. They were saved, however
> > because of the unions. And the taxpayer got to
> > pay for that.
> >
> > And they'll continue to need a handout because
> > they produce crappy vehicles. And why change?
> > Uncle Sam will be there to bail them out the
> next
> > time too.
>
> Yet another pathetic attempt to blame unions.
> They received the bailout because they're a big
> corporation and their collapse would have impacted
> the economy greatly.
Not really. Mostly they got the bailout to save the pension plans. The company itself could have operated otherwise but the pensions would have been done and we'd have ended up paying for that one way or another. Which we probably still will.
Re: Obama earned the American people -$10,500,000,000.00
Posted by:
ColumnNo.4
()
Date: December 16, 2013 02:18PM
Cu4Uu Wrote:
-------------------------------------------------------
> ColumnNo.4 Wrote:
> --------------------------------------------------
> -----
> > Econ101 Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > not bad Wrote:
> > >
> >
> --------------------------------------------------
>
> >
> > > -----
> > > > The auto bailout was part of the
> Troubled
> > > > Asset Relief Program, with the bulk of the
> > > money
> > > > going to financial institutions. Treasury
> > said
> > > it
> > > > spent $421.8 billion on bailouts and so far
> > has
> > > > recovered $432.7 billion, including the
> loss
> > on
> > > > GM.
> > >
> > >
> > > Most of the 'loans' that the US made money
> off
> > of
> > > were made under the Bush administration. GM's
> > > Treasury loan was done under the Obama
> > > administration.
> > >
> > > And it doesn't really matter what other
> > guaranteed
> > > loans earned, GM was a horrible investment.
> > They
> > > should have been allowed to fail and
> > restructure
> > > normally like every other corporation that
> has
> > > filed bankruptcy. They were saved, however
> > > because of the unions. And the taxpayer got
> to
> > > pay for that.
> > >
> > > And they'll continue to need a handout
> because
> > > they produce crappy vehicles. And why change?
>
> > > Uncle Sam will be there to bail them out the
> > next
> > > time too.
> >
> > Yet another pathetic attempt to blame unions.
> > They received the bailout because they're a big
> > corporation and their collapse would have
> impacted
> > the economy greatly.
>
>
> Not really. Mostly they got the bailout to save
> the pension plans. The company itself could have
> operated otherwise but the pensions would have
> been done and we'd have ended up paying for that
> one way or another. Which we probably still will.
That's assessing the issue through the view of a straw.
-------------------------------------------------------
> ColumnNo.4 Wrote:
> --------------------------------------------------
> -----
> > Econ101 Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > not bad Wrote:
> > >
> >
> --------------------------------------------------
>
> >
> > > -----
> > > > The auto bailout was part of the
> Troubled
> > > > Asset Relief Program, with the bulk of the
> > > money
> > > > going to financial institutions. Treasury
> > said
> > > it
> > > > spent $421.8 billion on bailouts and so far
> > has
> > > > recovered $432.7 billion, including the
> loss
> > on
> > > > GM.
> > >
> > >
> > > Most of the 'loans' that the US made money
> off
> > of
> > > were made under the Bush administration. GM's
> > > Treasury loan was done under the Obama
> > > administration.
> > >
> > > And it doesn't really matter what other
> > guaranteed
> > > loans earned, GM was a horrible investment.
> > They
> > > should have been allowed to fail and
> > restructure
> > > normally like every other corporation that
> has
> > > filed bankruptcy. They were saved, however
> > > because of the unions. And the taxpayer got
> to
> > > pay for that.
> > >
> > > And they'll continue to need a handout
> because
> > > they produce crappy vehicles. And why change?
>
> > > Uncle Sam will be there to bail them out the
> > next
> > > time too.
> >
> > Yet another pathetic attempt to blame unions.
> > They received the bailout because they're a big
> > corporation and their collapse would have
> impacted
> > the economy greatly.
>
>
> Not really. Mostly they got the bailout to save
> the pension plans. The company itself could have
> operated otherwise but the pensions would have
> been done and we'd have ended up paying for that
> one way or another. Which we probably still will.
That's assessing the issue through the view of a straw.