Do you believe that the GM government bailout was a good thing?

by Gracie - Proud Conservative Posted 2012/08/18 19:28:53

Related Topics: Obama, Video, Speed, Dollar, Gm, Tax Dollars, Outsourcing, Government, Taxpayer, Money, 2012, Investment, Tax

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327 votes
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	Yes, he saved the American automotive industry...	79 votes	24%
	No, it was a travesty for all involved...	218 votes	67%
	Undecided	30 votes	9%

First, let's get up to speed...watch this video so you can see how the money was borrowed and how it is being paid back.

http://www.dailyfinance.com/2012/08/15/taxpayers-gm-investmen...

Now, watch this video and see if you're as proud of GM and saving it as you should be. If you don't watch it, don't comment.

So, why does there continue to be so much proof that it's Obama that is directly and fragrantly outsourcing our tax dollars, and you still don't believe it?

+52

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The Lib Hater. 2012/08/18 23:01:56 (edited)

No, it was a travesty for all involved...

+82
They are losing market share, and building a crappier product, and in the case of the Volt it is way overpriced. In other words, nothing has changed at GM. They haven't lowered their labor cost, their materials cost. This company is going down. It's been said before, some companies have a marketing problem, some a product problem, some have a labor problem, and some have management problems. GM has all those problems. Here we have 0bama running around handing out our money to state, and local governments knowing he can't do it forever, because sooner or later GM is going to drive right into reality, and guess who will get hurt the most? The sucker taxpayer. The subject, not the citizen. Now you Libs out there still want to know how 0bama is taking away our rights? Yep we are forcefully invested in GM. See libs if I had rights in this country, I would invest in what I WANT to INVEST in. Not what 0bama wants me to invest in. Let 0bama invest his own money in GM. Just leave us the hell alone.
General Motors Is Headed For Bankruptcy -- Again... From Forbes.
http://www.forbes.com/sites/l...
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More polls by Gracie - Proud Conservative

rightside to AL 2012/10/08 14:57:06

+1
What's funny is that bama could say he was going to enslave everyone for their own good and his zombies would say "oh, OK".

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AL to rightside 2012/10/08 20:41:55

+1
You bet! It's alot more like blind worship for Obama now,then anything else!

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jere.chievres 2012/08/18 22:56:14

No, it was a travesty for all involved...

+15
Stupidity ran amok!

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Not-A-RINO 2012/08/18 22:53:44

No, it was a travesty for all involved...

+18
I prefer the marketplace to pick winners and losers - not Obama. Had GM gone through bankrupcy proceedings, the company could come out more competitive and stronger. Instead, we have Obama buying union votes, firing GM's CEO and making the company build a "green" car that is over-priced and lies about its gas mileage. Now, while still $30 billion in the hole to the Treasury, GM is looking to reward taxpayers for their forced assistance by locating operations in China. This is just one more socialist feather in fascist Obama's cap.

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Gracie ... to Not-A-RINO 2012/08/19 00:50:08

+6
The unions needed the money to bail out their entitlements. They also needed Obamacare to take them off the hook for their healthcare. It was a win-win for the unions and a lose-lose for America and it's taxpayers.

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Maddog 2012/08/18 22:51:18 (edited)

No, it was a travesty for all involved...

+18
These bailouts contravene the whole idea of free market capitalism and are a step towards the nationalization of business and industry (AKA: Communism). The U.S. government should not be in the business of cherry-picking which industries succeed or fail. This experiment was tried in the Soviet Union, and we all know what became of that benighted empire.

.

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Theresa to Maddog 2012/08/18 23:22:40

+8
Actually this is pure Fascism in operation.

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Maddog to Theresa 2012/08/18 23:28:23

+7
Call it what you will, but it is still inimical to the idea of free enterprise and kills any incentive for entrepreneurship.

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Gracie ... to Theresa 2012/08/19 00:51:10

+5
Yes it is fascism and it comes from the left. We both told him the same thing! LOL!

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Gracie ... to Maddog 2012/08/19 00:50:39

+5
And they say fascism comes from the right! That's BS!

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Maddog to Gracie ... 2012/08/19 01:20:59

+5
Yes, there are definite elements of fascism in these government bailouts of favored industries, deemed "too big to fail". It's my feeling, however, that Obama's vision of a future America coincides more with that of Karl Marx, in which the state plans and controls the economy and a single authoritarian party (Democrats, of course) holds power, leading eventually to a classless society in which all goods are equally shared by the people ("share the wealth" or share the poverty - take your pick).

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Gracie ... to Maddog 2012/08/19 01:23:30

+5
Fascism, communism, socialism, Marxism...all close cousins.

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MorbidC... to Gracie ... 2012/08/19 14:51:42

Bullcrap, fascism is authoritarian.

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Todd~AFCL to MorbidC... 2012/08/20 22:41:10

+1
And the left seeks to make the government the authority over every aspect of our lives. Gee, that sounds like fascism to me!

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ParkMan 2012/08/18 22:48:00

Undecided

I think a bailout is fine. I'm not thrilled that they dissolved the ownership & gave so much ownership to the unions though.

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Gracie ... to ParkMan 2012/08/19 00:51:45

+3
That was the point of the bailout, it wasn't GM it was a union bailout.

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**StarzAbove** 2012/08/18 22:35:52 (edited)

Yes, he saved the American automotive industry...

+3
Yes, he saved a lot of jobs by saving the auto industry, milliions of jobs would have been lost, it was a gutsy move and one that had to be done. If he had not acted, this country would have been in the greatest depression ever. Romney was against it and the american people won't forget it, either.

Kudos to you Mr. President.

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Jackie ... to **Starz... 2012/08/18 23:02:35

+8
Umm he saved GM unions only - Ford, Toyota, BMW in the US did not take a dime and are successful still. As nearly as I remember they too are the auto industry

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flaca BN-0 to Jackie ... 2012/08/18 23:16:48

Ford didn't take a dime because it already bought a bailout on the private market right before. They're in debt just as much, just to different people.

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Jackie ... to flaca BN-0 2012/08/19 00:40:55

+7
Yes they borrowed on their own - they were not awarded taxpayers hard earned money for unions only. Not even close to being the same thing to anyone who understands the difference between doing business on ones own and needing handouts from people who had no voice in the transaction - in effect, money stolen from taxpayers who earned it to bail out pension plans for overpaid people who sunk their company with greed and were rewarded by a political party.

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Gracie ... to Jackie ... 2012/08/19 00:54:07

+3
It's very simple, Jackie...borrowing vs theft.

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Jackie ... to Gracie ... 2012/08/19 01:02:00

+4
I know - I am done with this bunch - they are so ill informed, I am embarrassed for them.

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Gracie ... to flaca BN-0 2012/08/19 00:53:47

+3
Borrowing money in the private market is not a taxpayer based bailout. When you borrow from the free market, it's voluntary. When you borrow if from the taxpayers, without their consent, it's theft.

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AL to flaca BN-0 2012/10/08 21:51:35 (edited)

That only proves,G.M. never need a (tax payer) bail out then right?

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**Starz... to Jackie ... 2012/08/18 23:23:00

He saved Chrysler, lest you forget. Toyoto, BMW aren't US autos.

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Jackie ... to **Starz... 2012/08/19 00:39:00 (edited)

+6
Oh my, you need to look to the south where their factories are.

Chrysler was sold to a foreign firm - saved?? In what world is selling it out of the US being saved

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**Starz... to Jackie ... 2012/08/19 00:40:11

But their profits go to their native countries. They are still foreign owned.

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Jackie ... to **Starz... 2012/08/19 00:43:54

+4
Well so is Chrysler now - he forced their sale to foreign company - so if you consider that 'saved" then these companies here in US did just fine without that imbecile

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**Starz... to Jackie ... 2012/08/19 00:49:36 (edited)

+1
Well I can see you have no compassion for your fellow Americans whose jobs were saved. I guess you would have been happier if those people would have had to go on welfare. Then you would have had that to gripe about as well. Another thing you would have to blame the president about.

You probably would have lost your job as well if the president had not acted, because the trickle down effect would have been enormous. All those people would have been out of work, thus they would have no money to spend for anything else. This country would have been on its knees.

I think God every day that he saved the auto industries thus saving a lot of people from disaster. But then, I care for my fellow americans, too bad you don't as well.

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Jackie ... to **Starz... 2012/08/19 01:00:46 (edited)

+4
Why on earth do you believe that everyone would have lost their jobs - that is absurd. They ended up in a managed bankruptcy anyway and 2000 dealerships were forced to close (and all the owners and employees were dumped) as well as losing 147,000 other jobs in the bargain. It might have been much different, without the loss of billions of taxpayers dollars that did not need to be lost, if the managed bankruptcy suggested in the very beginning had been done immediately.

Now the taxpayers have lost a minimum of 27 billion dollars to save union pensions only and the company is dropping like a stone. Well except in China where they are #1 and lots of jobs there - aren't you glad you are helping them have jobs??

He did not save the auto industry - he saved GM union pensions - nothing more and he did only for political payback and he did with our money.

How dare you - I care about this nation and the people in it but I DO NOT PRETEND THAT LIES ARE FACTS OR THAT COMPLETE INCOMPETENT DID ANYTHING OTHER THAN PAY OFF HIS DONORS. JUST AS HE DID WITH ALL THE OTHERS - HE IS REAL BONAFIDE SCUM WHO CARES NOTHING FOR THIS NATION OR THE PEOPLE IN IT.

AND NO, you do not care or you would acknowledge facts and you would not dare to call others names who know them.

Done, will not respond again to this crap

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**Starz... to Jackie ... 2012/08/19 01:08:55 (edited)

+1
Looks like YOU can't stand the truth. And you certainly don't care about this great nation of ours. Too bad your family wasn't involved in any of this, maybe next time, then maybe you'll have some compassion for your fellow man and understand what I've been saying!

Good riddance!

OBAMA 2012.

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luvguins to **Starz... 2012/08/19 01:59:48

+1
They can't admit the truth and are a waste of time.

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**Starz... to luvguins 2012/08/19 13:34:11

+1
Exactly. It's like talking to a brick wall. What is so sad, is they are hoping the American auto industry DOES fail. I call those people traitors.

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tom C to **Starz... 2012/08/19 14:24:56 (edited)

+1
They went into bankruptcy in june 2009....you are dead wrong...
GM cut 20,000 jobs as part of the reorganization...to include 2000 dealerships..
you are wrong on that too..

http://money.cnn.com/2009/06/...
http://en.wikipedia.org/wiki/...
http://www.economist.com/node...

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luvguins to tom C 2012/08/19 15:16:19

+1
It was never a legal bankruptcy.

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tom C to luvguins 2012/08/19 15:28:40 (edited)

+1
then obama did an illegal bankruptcy?

The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the Southern District of New York
in june of 2009...

http://www.reuters.com/articl...

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AL to tom C 2012/10/08 21:55:13

+1
Please don't confuse "Luvguins" here, with real facts like that!

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Gracie ... to luvguins 2012/08/19 15:32:11

+1
There was nothing legal about the entire thing. Legal bondholder's rights were violated and unions were given money they weren't entitled to. It was a massive redistribution of wealth.

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tom C to luvguins 2012/08/19 15:45:11

http://retailindustry.about.c...

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luvguins to tom C 2012/08/19 16:06:32

Thank you for the correction.

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