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Show ALL Forums  > Off Topic  > GM 'Recovery' a total fraud. Lawsuit pending.      Home login  
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 matchlight
Joined: 1/31/2009
Msg: 115
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GM 'Recovery' a total fraud. Lawsuit pending.Page 6 of 6    (1, 2, 3, 4, 5, 6)

The facts:


What's the source of those "facts?" Does the Daily Kos have a foolproof crystal ball? The leftists there don't know, and neither do you, how many jobs were saved--if any--or how much loss of personal income was prevented--if any.

It wasn't inevitable that any of the carmakers would go out of business. They could have used existing federal laws to declare bankruptcy and reorganize. Instead, this antidemocratic president--true to his nature--chose to create a nationally-supported and controlled "private" industry that smacks of Mussolini's Italy. Bailing the carmakers out was what used to be called "lemon socialism" in Ms. Thatcher's Britain--pouring money into saving the corporations that are lemons.

What Mr. Obama and his leftist acolytes conveniently ignore is that whatever tax revenues went into that effort would, if left in the hands of the people who earned them, have been available for investment that would have brought economic growth in other fields. That might well have created more jobs than this experiment in totalitarianism is claimed to have saved. Central economic control is always the enemy of personal liberties. It should have died with last century's collectivist regimes in Italy, Germany, and Russia.
 GreenThumbz18
Joined: 4/25/2012
Msg: 116
GM 'Recovery' a total fraud. Lawsuit pending.
Posted: 3/7/2014 11:03:26 PM
We do know one thing for certain, the U.S. taxpayers lost 10 billion on this deal.
"Treasury closes the book on GM bailout with final stock sale
The Treasury Department has sold its final stake in General Motors, closing the book on its 2009 bailout of the auto industry. GM has been revived and is now profitable, but taxpayers are out more than $10 billion dollars.
Treasury Secretary Jack Lew announced the final stock sale late Monday afternoon, saying that Treasury ultimately recouped $39 billion through the sale of shares, dividends and loan repayments since 2009. But the government pumped $49.5 billion into GM to help it get through a bankruptcy reorganization. "
read more : http://money.cnn.com/2013/12/09/news/companies/gm-bailout-stock-sale/

GM stock - the past 5 years went from 35 to 35 with taxpayer bailout
Ford stock- the past 5 years went from 5 to 15 no taxpayer bailout

 flyguy51
Joined: 8/11/2005
Msg: 117
GM 'Recovery' a total fraud. Lawsuit pending.
Posted: 3/7/2014 11:14:43 PM

whatever tax revenues went into that effort would, if left in the hands of the people who earned them, have been available for investment that would have brought economic growth in other fields. That might well have created more jobs than this experiment in totalitarianism is claimed to have saved.

This rationale needs an injection of reality. The investors in this country have hardly ever been taxed at a lower rate than they are now. They are flush with cash (Quantitative Easing + low tax rates) that is curiously not creating jobs at the higher rate you speculate. That is because demand creates jobs, not cashed up supply.
 matchlight
Joined: 1/31/2009
Msg: 118
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GM 'Recovery' a total fraud. Lawsuit pending.
Posted: 3/8/2014 12:25:27 AM
^^^^Are you an economist?
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