Let the Bailouts continue, GMAC gets another $3.8 Billion

[Slew Foot]

http://finance.yahoo.com/news/Govt-...2.html?x=0&sec=topStories&pos=3&asset=&ccode=


Whats another 3.8 billion in loans that wont be paid back? Taxpayers are already on the hook for potentially trillions, who cares when you can just print more?

 

[JS80]

I hope they will never be paid back.

 

[Zebo]

 

[Schadenfroh]

Well, they took control of the company with this bailout as well.
(from the link)

The new aid will boost the federal government's ownership in GMAC to 56 percent, from 35 percent, and means the U.S. now holds a majority stake in three companies that it bailed out with taxpayer funds

Hopefully, they will sell this stake as soon as it is reasonable and make our (borrowed) money back.

 

[SAWYER]

 

[Zebo]

Hopefully, they will sell this stake as soon as it is reasonable and make our (borrowed) money back.

You can't be serious. Everyday government owns it it's value precipitates. Everyday UAW has stranglehold on GM it's value precipitates. Unless we ban imports the value and sales of GM will get less by the day.

 

[Fear No Evil]

On a positive note, with the value of the $ dropping like a rock.. 3.8 billion really isn't that much any more.

 

[Special K]

In other news, the Treasury recently removed the $400 billion cap it had once imposed on aid to Fannie Mae and Freddie Mac:

http://www.npr.org/templates/story/story.php?storyId=121903990

 

[Jhhnn]

That's right, Zebo- blame teh ebil gubmint and unions for the sins of the bankers and execs. How lame.

If the govt hadn't stepped in, we'd be in a debt deflation scenario unseen since the great depression. Which isn't something that just happens on its own, but is rather the result of what came before, of letting the lootocracy run wild for nearly a decade. What we're part of is the popping of the greatest asset bubble in history, the demise of the financial flimflam known as the "Ownership Society".

When they pissed down your leg, told you it was raining, you believed 'em, apparently wish they'd do it again.

 

[Zebo]

The government IS responsible for putting our solidly middle class workers in competition with slave wages. Thats a fact with MFN, NAFTA, tariff erosion among other things. The union is responsible for not adapting to this situation.

GM can't compete anymore.

 

[Jhhnn]

The government IS responsible for putting our solidly middle class workers in competition with slave wages. Thats a fact with MFN, NAFTA, tariff erosion among other things. The union is responsible for not adapting to this situation.

GM can't compete anymore.

Yeh, the govt forced american capitalists to offshore jobs and production. And they forced GM execs to borrow more money than the company could pay back, make pension promises that the company couldn't keep, suck up huge compensation for themselves in the process. And it's the unions' fault for not figuring out how to pay first world house payments and overhead on slave wages, themselves.

Did I mention lame?

Yeh, guess I did...

 

[StageLeft]

lol

 

[JS80]

Yeh, the govt forced american capitalists to offshore jobs and production. And they forced GM execs to borrow more money than the company could pay back, make pension promises that the company couldn't keep, suck up huge compensation for themselves in the process. And it's the unions' fault for not figuring out how to pay first world house payments and overhead on slave wages, themselves.

Did I mention lame?

Yeh, guess I did...

The government forces companies to accept union thug extortion.

 

[HumblePie]

Yeh, the govt forced american capitalists to offshore jobs and production. And they forced GM execs to borrow more money than the company could pay back, make pension promises that the company couldn't keep, suck up huge compensation for themselves in the process. And it's the unions' fault for not figuring out how to pay first world house payments and overhead on slave wages, themselves.

Did I mention lame?

Yeh, guess I did...

Slave wages??? Wait what?? First off a slave would have no wage. Second, since when is making $33+ an hour a slave wage? Last time I checked, that was the minimum wage earned by any union member of the car industry. Included with that is a benefits package I can only dream of having...


I agree that the government isn't fully responsible, but they have some culpability in the issue. Why? First off, back in the day when unions WERE needed the government should have done something back then instead of giving the need to arise for unions. I do agree that the majority of blame falls directly on the heads of the American Car Industry leaders, with the next biggest helping of blame going to the Union Leaders. Finally, the government is to blame to a degree for this mess, although slightly, but are now responsible for a bigger mess due to bailouts in my opinion.

 

[Jhhnn]

The government forces companies to accept union thug extortion.

Have you ever had an original thought in your life, or do you exist simply to spout canned rightwing propaganda?

 

[JS80]

Have you ever had an original thought in your life, or do you exist simply to spout canned rightwing propaganda?

Have you ever had an original thought in your life, or do you exist simply to spout canned leftwing propaganda?

 

[Ausm]

The government forces companies to accept union thug extortion.

Better then Executive thug extortion in my book.

 

[Jhhnn]

Have you ever had an original thought in your life, or do you exist simply to spout canned leftwing propaganda?

so clever... in proving my point, anyway...

 

[JS80]

so clever... in proving my point, anyway...

It's ironical huh?

Glad you think though that anyone these days have any "original" thought.

 

[Vic]

This thread is so full of partisan stupid I don't even know what to say... and I hate GMAC.

 

[Darwin333]

That's right, Zebo- blame teh ebil gubmint and unions for the sins of the bankers and execs. How lame.

If the govt hadn't stepped in, we'd be in a debt deflation scenario unseen since the great depression. Which isn't something that just happens on its own, but is rather the result of what came before, of letting the lootocracy run wild for nearly a decade. What we're part of is the popping of the greatest asset bubble in history, the demise of the financial flimflam known as the "Ownership Society".

When they pissed down your leg, told you it was raining, you believed 'em, apparently wish they'd do it again.

They ARE doing it again.

 

[bamacre]

This thread is so full of partisan stupid I don't even know what to say

Isn't this true of most threads?

 

[nobodyknows]

The government forces companies to accept union thug extortion.

Can we get some violin music here please or is that under a union contract also???? ROFLMAO!!

 

[Patranus]

That's right, Zebo- blame teh ebil gubmint and unions for the sins of the bankers and execs. How lame.

If the govt hadn't stepped in, we'd be in a debt deflation scenario unseen since the great depression. Which isn't something that just happens on its own, but is rather the result of what came before, of letting the lootocracy run wild for nearly a decade. What we're part of is the popping of the greatest asset bubble in history, the demise of the financial flimflam known as the "Ownership Society".

When they pissed down your leg, told you it was raining, you believed 'em, apparently wish they'd do it again.

What does anything you just wrote have to do with GM?
The company was going south long before 2008.

 

[nobodyknows]

I hope they will never be paid back.

I hope they raise your taxes to pay it back and the sooner the better.