Taxpayers Lose 24 Billion on GM

[chargerboy69]

And we are now informed today we as taxpayers are going to lose 24 Billion on the GM bailout.  Thanks to GM for pissing my hard earned money right down the sh!ter. Oh, and to the dipsh!ts who gave them my money, nice move.

Please do not turn this into a  blame one party or another thread as both are to blame, they all suck.  This is about GM and how they have not seemed to learn how to run the company with all the "free" money they received.


http://www.detnews.com/article/20111114/AUTO01/111140434/1361/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B

[Dino]

Please do not turn this into a  blame one party or another thread as both are to blame, they all suck. 

That's what people tend to forget from time to time, they're all politicians, that should be enough on that subject.

All these big companies are good at filling their own pockets first, it will never change.

[dads_69]

Nuke GM...........haha

[TruckDriver]

Please do not turn this into a  blame one party or another thread as both are to blame, they all suck.  This is about GM and how they have not seemed to learn how to run the company with all the "free" money they received.

This is why it doesn't pay to vote anymore. ALL politicians lie just to get elected. After they get in office, they dont give a shit about the public, well, at least 99.9% of them.

[68X426]

The UAW and affiliated unions, as well as GM, are all addicts, getting high on their taxpayer money addiction. Union welfare, corporate welfare. Everybody gets high on the public's money.

There, it isn't about politics.

[elacruze]

A good friend was VP level at GM before the collapse-she said that even at that level they were pushed into taking GM stock as compensation while upper management hid the plan to make that stock worthless.

[RallyeMike]

Please do not turn this into a  blame one party or another thread

 Good luck with that. People just cannot resist...  

Who will first come to the defense of the lefty UAW who has been insulted by 68X426?  



And who didnt see this coming? The taxpayers were actually going to get the bailout money back? Righto.

The way I see it, $24B / $300M = it cost each one of us about $80 to keep GM afloat. As much as I hate to say it, I guess it's worth it to me to keep at least ONE American manufacturing business alive. I mean, they could have sold it off (ala the Chryler example) to Hyundai.

[68X426]

Who will first come to the defense of the lefty UAW who has been insulted by 68X426?  

Insult?    You should've read my first reaction before I edited.

It's just tough love. Everyone needs to face up to their addiction, whether union or corporate. Neither organization has balls. They just suck on the public money teat.

The question remains: where is the bail out money for Studebaker?

[Tilar]

And we are now informed today we as taxpayers are going to lose 24 Billion on the GM bailout.  Thanks to GM for pissing my hard earned money right down the sh!ter. Oh, and to the dipsh!ts who gave them my money, nice move.

Gee, Imagine that! Whooda thunk it. Goes hand in hand with what they did to the Michigan Day care centers...

Please do not turn this into a  blame one party or another thread

  Good luck with that. People just cannot resist... 

Who will first come to the defense of the lefty UAW who has been insulted by 68X426? 

I just cant imagine. "cough tk73 cough" 

[Darkman]

I can see yet another thread getting locked

[chargerboy69]

And we are now informed today we as taxpayers are going to lose 24 Billion on the GM bailout.  Thanks to GM for pissing my hard earned money right down the sh!ter. Oh, and to the dipsh!ts who gave them my money, nice move.

Gee, Imagine that! Whooda thunk it. Goes hand in hand with what they did to the Michigan Day care centers...

Please do not turn this into a  blame one party or another thread

  Good luck with that. People just cannot resist... 

Who will first come to the defense of the lefty UAW who has been insulted by 68X426? 

I just cant imagine. "cough tk73 cough" 

        I just spit Diet Pepsi all over the laptop.

I can see yet another thread getting locked

Where is your faith in our fellow forum members.

[adauto]

The UAW and affiliated unions, as well as GM, are all addicts, getting high on their taxpayer money addiction. Union welfare, corporate welfare. Everybody gets high on the public's money.

There, it isn't about politics.

You got that right!!!

[Patronus]

Please do not turn this into a  blame one party or another thread as both are to blame, they all suck.  This is about GM and how they have not seemed to learn how to run the company with all the "free" money they received.

This is why it doesn't pay to vote anymore. ALL politicians lie just to get elected. After they get in office, they dont give a shit about the public, well, at least 99.9% of them.

Did you see 60 minutes last week about how politicians buy and sell stock with insider info...? Somethin's gonna change.. 

[TK73]

hhhhmmm... *clears throat*

Wellll....

[NHCharger]

Did you see 60 minutes last week about how politicians buy and sell stock with insider info...? Somethin's gonna change.. 

I read that article. Congress exempts itself from the rules they make for everyone else, unbelievable.

Wasn't GM running an ad earlier this year about how they have already paid back the bailout money?? And then it turns out they dipped into a secret emergency fund the government had set up incase they need more bail out money?

[maxwellwedge]

Please do not turn this into a  blame one party or another thread as both are to blame, they all suck.  This is about GM and how they have not seemed to learn how to run the company with all the "free" money they received.

This is why it doesn't pay to vote anymore. ALL politicians lie just to get elected. After they get in office, they dont give a shit about the public, well, at least 99.9% of them.

Did you see 60 minutes last week about how politicians buy and sell stock with insider info...? Somethin's gonna change.. 

Saw it - Kept thinking that Martha Stewart must have been pissed watching that.

[TK73]

Seems to me we should take to the streets demanding accountability and change!!

[ACUDANUT]

What about Chrysler...They took the money and now it's a foreign owned company. (Fiat). Do you think they are going to pay the U.S. Government back....NOPE.

[TK73]

What about Chrysler...They took the money and now it's a foreign owned company. (Fiat). Do you think they are going to pay the U.S. Government back....NOPE.

Partially confirmed:

Chrysler to pay back all but $1.3B of bailout

"The U.S. government will ultimately lose around $1.3 billion in the deal. The government authorized $12.5 billion in loans for Chrysler from the end of 2008 through Chrysler's bankruptcy filing in the summer of 2009. The Treasury Department said Thursday that Chrysler has repaid $11.2 billion — including $2 billion in undrawn loans — but it is unlikely to recover the rest. Government officials have long said that they didn't expect to recover the full amount they loaned to Chrysler and General Motors during the auto industry downturn, and that their top priority was saving thousands of auto jobs."

http://www.usatoday.com/money/autos/2011-06-03-chrysler-bailout-government_n.htm

[HalfastJav]

Seems to me we should take to the streets demanding accountability and change!!

We need to do that for alot more than just Chebbie.......

Foreign inundation is killing me...........

[1969chargerrtse]

I love GM but lost 6,000.00 from them.

[nh_mopar_fan]

Seems to me we should take to the streets demanding accountability and change!!

I've got an idea. Let's all get together and pitch some tents downtown. We can camp out for weeks. Play some bongos, smoke some dope and complain about how life is unfair. Once night comes, we can throw in a little vandalism and crap on a police car or two. 

Sound effective?   

[1970Moparmann]

Seems to me we should take to the streets demanding accountability and change!!

I've got an idea. Let's all get together and pitch some tents downtown. We can camp out for weeks. Play some bongos, smoke some dope and complain about how life is unfair. Once night comes, we can throw in a little vandalism and crap on a police car or two. 

Sound effective?   

Now that is funny.

[1970Moparmann]

I also heard a rumor that because of the "Cash for Clunkers" program, the U.S. has an all time high of bank repo's because PEOPLE CAN'T AFFORD THEIR CAR".     So to sum it up, due to the Government we have an all time high of people losing their house, job, and car........  What's next?? 

[Silver R/T]

Proud to say I don't have a single GM product