Which Among You Dupes Thought GM and Chrysler Would -- Or Could -- Pay Back Your Tax Dollars?
God'sLittleAnus
The Washington Post
Tuesday, November 3, 2009
AUTOMOTIVE
"U.S. investment likely lost, GAO says"
TAXPAYERS are unlikely to recover their full investment in General
Motors or Chrysler, U.S. government investigators said Monday in the
latest review to cast doubts that the government will recoup the $80
billion it poured into the two automakers.
The Government Accountability Office concluded that General Motors and
Chrysler likely will not be valuable enough for the Treasury
Department to break even on its investment in the two auto companies
that went through bankruptcy earlier this year.
The GAO also revealed that the Obama administration is closely
scrutinizing the finances of GM and Chrysler and has set some
requirements on production even though it has said it will maintain a
hands-off approach on the automakers' daily operations.
To recover the loans Treasury gave Chrysler and GM to keep them
afloat, the automakers would have to reach valuations they did not
approach even when they were healthier.
GM spokesman Greg Martin said "if we get our job done, the government
has an excellent chance of getting a return on its investment."
Chrysler declined to comment.
-- Associated Press
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/02/AR2009110203479.html
alt.politics.bush
What value do you put on keeping the economy running?
John Galt
Are you seriously suggesting that there were no alternatives to the
government investing in the automakers?
JG
jose el fontanero
Obviously, the dupes who voted for the Obama.
Canuck57
> "U.S. investment likely lost, GAO says"
There should be a song, "BO pissing away money ..."
> TAXPAYERS are unlikely to recover their full investment in General
> Motors or Chrysler, U.S. government investigators said Monday in the
> latest review to cast doubts that the government will recoup the $80
> billion it poured into the two automakers.
I don't think anyone in their right minds even thinks it is fiscally
possible for these dog companies to pay back what they owe.
The question really is, how much will they suck out of the nations
coffers before someone figures out they are not worth saving.
> The Government Accountability Office concluded that General Motors and
> Chrysler likely will not be valuable enough for the Treasury
> Department to break even on its investment in the two auto companies
> that went through bankruptcy earlier this year.
>
> The GAO also revealed that the Obama administration is closely
> scrutinizing the finances of GM and Chrysler and has set some
> requirements on production even though it has said it will maintain a
> hands-off approach on the automakers' daily operations.
BS. Obama and Congress already know where the money went. You can
either believe Congress/Obama BS that they don't know, which makes them
dumbshits for giving over $100 billion to corrupt auto.
Or they already know and are trying to white wash it for 2010
Senate/Congress elections so the Dimwit Democrats don't get wiped out
for corruption and sheer massive waste of taxpayers future wealth.
Greed buggers want health care to skim it. Who is kidding who. $1.3
billion of debt added to the backs of taxpayers doesn't even keep Obama
going for a year!
Now that times are tough, more are going to wake up an figure out this
corruption isn't worth it. Which is really wht the government worries
about, a revolk against statism and big government corruption.
Say no to corruption and wasting your tax dollars, make darned sure you
don't vote for the congress/seantors that didn't vote AGAINST the
bailout. Even if they were passive, it was clear they let the lame duck
Bush take the misappropriation and they didn't make a single squeak.
Because most supported it!
So much political BS from BO, I will say this, he is a Pied
Piper...knows how to get a lot of people to march off the cliff like sheep.
Canuck57
A lot. That is why GM must go down. It is too much of a drag on the
good parts of the economy to keep this welching, belching big fat
diseased porker going.
Clean house of the corruption garbage and the economy will right itself.
Too much dead weight and corruption in the system. Robs from the rest
of us too.
Roy Blankenship
"Canuck57" <Canu...@nospam.com> wrote in message
news:Gi4Im.310$6c...@newsfe03.iad...
The ramifications of GM going down would be much more broad than most people
realize. Automakers do not have dump trucks of ore going in one end and spit
cars out the other, there are hundreds of vendors that would be adversely
affected. GM makes more than cars, their divisions and subsidiaries would
die, too. I lived in northern Wisconsin in a small town of 500 people at one
point in my life, the community was fed by a plastics plant that made wiper
parts for Ford. There are hundreds of similar scenarios across the country.
The Wikipedia article on GM gives a different perspective of the global
impact the company has.
jose el fontanero
>
> - Show quoted text -
You must be referring to the US Federal government. Right?
Canuck57
What a crock of shit. So one city can survive we will screw everyone
coast to coast to subsidize it. Because the government is so horny for
taxes, they will leave less in everyones pocket. And everyone will buy
less. Sort of like a dog eating it's tail.
Sure, GM going down will affect a very small percentage of the economy.
But the notion that government stealing from other workers to bailing
out GM is going to work as simple as that is a dumb assed brainwashed
sheeple fodder.
The fact is families and workers coast to coast will do without to keep
the GM corruption and losses going.
It would be far cheaper to put $5 billion into an
unemployment/relocation fund and let GM sink. Any production needed to
fulful what America needs could be fulfilled by any one of a dozen auto
makers that are not welcher grubs. Want an Amercan name? Buy a Ford,
Chrysler is now foreign owned.
Just GM bullshit. Let Buffet pick GM in bankruptcy chater 7 and he will
fix GM. Start by firing everyone.
Lamont Cranston
Yet another economically illiterate raises his ridge-browed
head. Home schooled, huh?
alt.politics.bush
>
> - Show quoted text -
I think a superior investment would be for the US military to order
upwards to 3,000 V-22 Osprey, with the option to sell delivery slots
to commerical operators and/or to surplus delivered a/c as they exceed
mission requirements.
Canuck57
Nope, basic economics. By keeping GM alive everyone else is poorer, and
thus spends less including auomobilies. Like a fish eating its own
tail. Just a shift of wealth, taking more from people all over our
nations for corporations and corruption.
Hey, I got laid off in this mess in 2008 and in auto and my head office
was in Wisconsin (but I live in Canada, long story). Like many, we find
out that bailouts are for the rich, the insiders, the executives and
some dark hole which no one seems to know where it goes.
Bet the founders of the united states would roll over in their graves to
know the US tax system is now used by corporations for revenue.
And from an investment perspective, no wonder Chinese blow us away, they
don't have to support bailouts, corruption and Government Motors, t'll
debt do us part.