The U.S. government ended up losing $10.5 billion US on its bailout of General Motors....,
Treasury Secretary Jacob Lew announced Monday that the government sold its remaining shares in the Detroit automaker.
Since leaving bankruptcy, GM has been profitable for 15 straight quarters, racking up almost $20 billion in net income on strong new products and rising sales in North America and China.
If GM made almost 20 billion why haven't they not paid back the 10 billion ?
Oh I see,,, they needed that money to invest in China and create jobs for the Chinese.....makes sense..
Taxpayers give up 10 billion to protect union auto jobs who in turn give large donations to Obama's re-election campaign......so that's the way it works..rob the taxpayers to buy votes.
The U.S. government ended up losing $10.5 billion US on its bailout of General Motors....,
Treasury Secretary Jacob Lew announced Monday that the government sold its remaining shares in the Detroit automaker.
Since leaving bankruptcy, GM has been profitable for 15 straight quarters, racking up almost $20 billion in net income on strong new products and rising sales in North America and China.
If GM made almost 20 billion why haven't they not paid back the 10 billion ?
Oh I see,,, they needed that money to invest in China and create jobs for the Chinese.....makes sense..
Taxpayers give up 10 billion to protect union auto jobs who in turn give large donations to Obama's re-election campaign......so that's the way it works..rob the taxpayers to buy votes.
Today, we’re closing the book by selling the remaining shares of the federal government’s investment in General Motors. GM has now repaid every taxpayer dollar my Administration committed to its rescue, plus billions invested by the previous Administration.
Yeah right ,,just like... "if you like your plan you can keep your plan" ..
Today, we’re closing the book by selling the remaining shares of the federal government’s investment in General Motors. GM has now repaid every taxpayer dollar my Administration committed to its rescue, plus billions invested by the previous Administration.
Yeah right ,,just like... "if you like your plan you can keep your plan" ..
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.
The Center for Automotive Research, an Ann Arbor, Mich., think tank, issued an updated report on Monday saying that if the government hadn't intervened and GM went out of business, nearly 1.9 million jobs would have been lost in 2009 and 2010. Federal and state governments also would have lost $39.4 billion in tax revenue and payments made for unemployment benefits and food stamps, the study said
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.
The Center for Automotive Research, an Ann Arbor, Mich., think tank, issued an updated report on Monday saying that if the government hadn't intervened and GM went out of business, nearly 1.9 million jobs would have been lost in 2009 and 2010. Federal and state governments also would have lost $39.4 billion in tax revenue and payments made for unemployment benefits and food stamps, the study said
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.
The Center for Automotive Research, an Ann Arbor, Mich., think tank, issued an updated report on Monday saying that if the government hadn't intervened and GM went out of business, nearly 1.9 million jobs would have been lost in 2009 and 2010. Federal and state governments also would have lost $39.4 billion in tax revenue and payments made for unemployment benefits and food stamps, the study said
That's the other half of the story you won't hear from Limbaugh, Hannity, and their ilk. And the other side does it as well.
Cherry picked News spoon-fed to the moronic masses.
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.
The Center for Automotive Research, an Ann Arbor, Mich., think tank, issued an updated report on Monday saying that if the government hadn't intervened and GM went out of business, nearly 1.9 million jobs would have been lost in 2009 and 2010. Federal and state governments also would have lost $39.4 billion in tax revenue and payments made for unemployment benefits and food stamps, the study said
That's the other half of the story you won't hear from Limbaugh, Hannity, and their ilk. And the other side does it as well.
Cherry picked News spoon-fed to the moronic masses.
The auto bailout was part of the Troubled Asset Relief Program, with the bulk of the money going to financial institutions.
TARP authorized the treasury secretary to spend $700 billion to purchase, and to make and fund commitments to purchase, troubled assets from financial institutions.. not auto companies..
TARP funds to GM and Chryler was an illegal and unconstitutional diversion of the TARP funds.........
The auto bailout was part of the Troubled Asset Relief Program, with the bulk of the money going to financial institutions.
TARP authorized the treasury secretary to spend $700 billion to purchase, and to make and fund commitments to purchase, troubled assets from financial institutions.. not auto companies..
TARP funds to GM and Chryler was an illegal and unconstitutional diversion of the TARP funds.........
Funny how there is such disdain for the automakers and if the government lost money bailing them out, and as mentioned above not much of any word regarding the mega bailouts in other areas.
I think GM brought it on itself and should have been flushed out or cleaned up..but that isnt really the point.
Making threads like this are like complaining about the utility rates for the White House..not really helping anything and are just partisan noise.
Funny how there is such disdain for the automakers and if the government lost money bailing them out, and as mentioned above not much of any word regarding the mega bailouts in other areas.
I think GM brought it on itself and should have been flushed out or cleaned up..but that isnt really the point.
Making threads like this are like complaining about the utility rates for the White House..not really helping anything and are just partisan noise.
Making threads like this are like complaining about the utility rates for the White House..not really helping anything and are just partisan noise.
WSC ,
So, having a partisan view in a politics forum is a bad thing..and only moderateleaning political view ( esp.left) are acceptable in this type of forum...I see!
Well then..is there a way that threads of this nature can be pre-screened by the Moderators before posting, as not to create political noise ?
Making threads like this are like complaining about the utility rates for the White House..not really helping anything and are just partisan noise.
WSC ,
So, having a partisan view in a politics forum is a bad thing..and only moderateleaning political view ( esp.left) are acceptable in this type of forum...I see!
Well then..is there a way that threads of this nature can be pre-screened by the Moderators before posting, as not to create political noise ?
So, having a partisan view in a politics forum is a bad thing..and only moderateleaning political view ( esp.left) are acceptable in this type of forum...I see!
Well then..is there a way that threads of this nature can be pre-screened by the Moderators before posting, as not to create political noise ?
Thanks in advance.
You post more Obama/Dem bashing threads than most if not any poster here.
How about some new material..
I also did not say you were breaking any rules, but your constant nagging and whining is quite annoying.
So, having a partisan view in a politics forum is a bad thing..and only moderateleaning political view ( esp.left) are acceptable in this type of forum...I see!
Well then..is there a way that threads of this nature can be pre-screened by the Moderators before posting, as not to create political noise ?
Thanks in advance.
You post more Obama/Dem bashing threads than most if not any poster here.
How about some new material..
I also did not say you were breaking any rules, but your constant nagging and whining is quite annoying.
A 10.5 Billion dollar loss is great. They will come up with 600 ways that it saved us money by not putting these guys on unemployment, food stamps and welfare. never mind the fact that they claimed bankruptcy and had mass layoffs and sent a lot of operations to other countries. Anyone remember what the consequences of not bailing them out was.......... A Detroit bankruptcy............... anyone? anyone?
A 10.5 Billion dollar loss is great. They will come up with 600 ways that it saved us money by not putting these guys on unemployment, food stamps and welfare. never mind the fact that they claimed bankruptcy and had mass layoffs and sent a lot of operations to other countries. Anyone remember what the consequences of not bailing them out was.......... A Detroit bankruptcy............... anyone? anyone?
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