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Obama Saved GM?
Youtube ^ | November 3, 2012 | agatsu

Posted on 11/04/2012 9:18:14 AM PST by agatsu

Obama Saved GM?


TOPICS: Politics
KEYWORDS: bankruptcy; delphi; gm; obama
I did this for my Obama-zombie friends on FB, because they were bragging about it.
1 posted on 11/04/2012 9:18:17 AM PST by agatsu
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To: agatsu

Oh yeah! I bought something GM.....not.


2 posted on 11/04/2012 9:22:05 AM PST by Gaffer
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To: agatsu

I was a satisfied GM customer in the past, but I never want to see the inside of another GM dealership.


3 posted on 11/04/2012 9:26:57 AM PST by TwelveOfTwenty (Ho, ho, hey, hey, I'm BUYcotting Chick-Fil-A)
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To: agatsu

bttt


4 posted on 11/04/2012 10:05:07 AM PST by Luigi Vasellini (End the political class.......TERM LIMITS NOW!!!!!!!!!!)
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To: agatsu

Tell it to the Bond holders.


5 posted on 11/04/2012 10:07:09 AM PST by Irish Eyes
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To: agatsu; All

http://www.youtube.com/watch?v=Lvl5Gan69Wo


6 posted on 11/04/2012 10:12:30 AM PST by PGalt
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To: agatsu

Obama Saved GM? No, he just spent a lot of money.


7 posted on 11/04/2012 10:17:36 AM PST by bmwcyle (45% to 47% of American voters are stupid)
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To: agatsu

ROTFLOL


8 posted on 11/04/2012 10:35:10 AM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: agatsu

Depends on what the definition of the word, “saved”, is. I it means saddling the taxpayers with yet unpaid billions in debt, then I guess so.


9 posted on 11/04/2012 10:50:25 AM PST by mtrott
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To: bmwcyle

Has anyone figured out the net cost to taxpayers per job “saved”? I think that such a figure would drive home the point that “saving” jobs in this fashion is absurdly expensive and unaffordable if we try to extend it to other industries.


10 posted on 11/04/2012 10:56:18 AM PST by DrC
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To: Irish Eyes

Irish Eyes~:” Tell it to the Bond holders. “

I understand that GM is going to have to go back into Federal Court again as the “Fed” failed to include some vital information in their application to take over the company.
Any truth to that ?


11 posted on 11/04/2012 11:20:47 AM PST by Tilted Irish Kilt (Bapak O6ama : Russian for the "STAND DOWN PRESIDENT" ~ (DA ! Wait until I can be more flexible !)
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To: mtrott

mtrott~:” Depends on what the definition of the word, “saved”, is. I it means saddling the taxpayers with yet unpaid billions in debt, then I guess so. “

The only thing saved was ‘UNION JOBS’.. ,
everything else was collateral damage.


12 posted on 11/04/2012 11:23:30 AM PST by Tilted Irish Kilt (Bapak O6ama : Russian for the "STAND DOWN PRESIDENT" ~ (DA ! Wait until I can be more flexible !)
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To: agatsu
All he saved was the UAW workers fat pay checks and fringe benefits!!!
13 posted on 11/04/2012 11:24:45 AM PST by dalereed
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To: DrC
The U.S. Treasury Department has said the auto industry bailout will cost taxpayers $3.4 billion more than previously thought.

Treasury now estimates the 2009 bailout will eventually cost the government $25.1 billion, according to a report sent to Congress on Friday.

That is up from the last quarterly estimate of $21.7 billion.

Since the $80 billion bailout of the auto industry, Detroit's big automakers have moved from crisis to profit. GM and Chrysler were put through government-funded bankruptcies that slashed costs and debt.

14 posted on 11/04/2012 1:07:23 PM PST by bmwcyle (45% to 47% of American voters are stupid)
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To: Irish Eyes

You sure know where to kick an old geezer—right in his- “but, I’m not a one percenter wallet”. It has convinced me and my extended family to never again purchase a vehicle made by UAW, not even a Ford.


15 posted on 11/05/2012 4:54:45 AM PST by BTCM (Death and destruction is the only treaty Muslims comprehend.)
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To: bmwcyle

“Treasury now estimates the 2009 bailout will eventually cost the government $25.1 billion, according to a report sent to Congress on Friday.”

Excellent. Then the question is how many jobs were saved. Obama claims more than 1 million:
http://www.barackobama.com/auto-recovery/

If so, then each job was saved at a taxpayer cost of ~$25K. If true, that’s actually not such a bad deal, especially when you consider that unemployment and food stamps for laid-off workers likely would have totaled a similar amount. The stimulus, in contrast, cost in excess of $250K per “job saved” which is an absurd and unaffordable amount by which to try and keep an economy going. I’m not in a position to quarrel with the 1 million jobs saved figure, but will observe that the jobs outcome presumably would have been very similar under the bankruptcy terms proposed by Romney. I don’t know whether Romney’s plan would have required $25B in taxpayer funds. At minimum, it would NOT have channeled tens of billions to unions. Somewhere I saw that the unions essentially got 75 cents on the dollar vs. bondholders, who got only 10 cents on the dollar—something that never would have occurred in a standard bankruptcy (which has to follow rules/guidelines/precedents).


16 posted on 11/05/2012 4:58:43 AM PST by DrC
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To: agatsu

Bleepin’ heck. The post dropped my link: http://www.youtube.com/watch?v=zhfDWhUoeJw


17 posted on 11/05/2012 5:50:30 AM PST by agatsu
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