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Romney Says He Would Unload GM Stake at Loss
WSJ ^ | June 5, 2012 | Sara Murray

Posted on 06/11/2012 9:46:53 PM PDT by what's up

Mitt Romney plans to shed the government’s stake in General Motors if he wins the presidency, even if it means taking a loss, the presumptive GOP nominee told the Detroit News.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: bailout; gm; michigan; rinoromney; romney; romney4control; romney4govtcontrol; romney4romney
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To: Mind-numbed Robot

As much as I would agree with you there are many companies which cannot, cannot be sold off.

Cannot be.

We’ve already started selling off our critical stake.

It is time for that to stop. Long time past time, in fact.

It is time to start getting them back.


41 posted on 06/12/2012 5:45:06 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: what's up

Does anyone here know if there are any lawsuits pending against the government by GM bondholders who were screwed out of their property by the illegal actions of Zero and his henchmen?


42 posted on 06/12/2012 6:24:28 AM PDT by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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To: re_nortex
The sole role of the federal government should be national defense. Nothing else. Period. Paragraph.

Well, that certainly is the MAIN reason we have a federal government. But there are a few other powers enumerated in the Constitution: a common currency, the post office (ironically enough), regulate interstate commerce--which has been badly abused but which can serve a legitimate purpose (e.g., I don't mind that the FDA makes sure preescription drugs sold nationally are safe).

But the point here of course is that there should be no "Government Motors." Romney is right on this.

43 posted on 06/12/2012 7:33:27 AM PDT by Charles Henrickson (The progs were dense in Providence.)
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To: Jeff Head
Thanks for the updated chart. A couple of things that really tick me off.

1) In the chart, Government Motors papers over (hides) the fact the original GM bondholders were robbed when their ownership was forcibly taken from them and handed to the UAW by Obama. Their only crime was investing their own savings in the company. The UAW was primarily responsible for causing GM to fail. Calling the UAW an “institutional investor” is a joke. They were given ownership by Obama.

2) Now the UAW is getting huge bonuses while the taxpayers are taking it up the *ss.

http://www.thetruthaboutcars.com/2012/02/uaw-profit-sharing-bonuses-enough-to-buy-two-tatas/

The UAW is sure to funnel the ill-gotten money back into the Obama campaign so they can continue the criminal enterprise.

To me, this is the real story that no one is reporting on.

44 posted on 06/12/2012 7:49:30 AM PDT by Gabrial (The nightmare will continue as long as the nightmare is in the White House)
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To: Gabrial

Amen to every bit of that. What Obama did with GM is a classic Marxist action. He is destroying the free market. Taking advantage of the finanical difficulty to stick it to the true investors. Paying off his cronies, and using class warfare and redistribution all in one sickening act.

A Pox on the man and all who hold and push his anti-American and destructive views.

God grant that we can remove him in Novemebr...and not just in a close vote (though I will take any win) but hopefully in a Mondal type route that associates his name forever with failure, anti-Americanism, and destructive policies...so that in the political world, “Obama” becomes a pariah.

As in, “...be careful, or you will pull an, “Obama.” Or, “your policies are laying another “Obama,” on this nation,” or, “what are you thinking? you friggin “Onama.”

That’s the legacy and epitath this incidividual deserves at the least.

If the truth were ever really known, he should spend a good 20-30 in the Federal Grey Rock Hotel.

The Man who Despises America
http://www.jeffhead.com/obama-time.htm

Obama’s Disasterous “Firsts” as President
http://www.jeffhead.com/obama1sts.htm

Who really is BArack Hussein Obama?
http://www.jeffhead.com/whoisobama.htm


45 posted on 06/12/2012 8:00:27 AM PDT by Jeff Head (Freedom is not free, never has been, never will be (www.dragonsfuryseries.com))
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To: Lonesome in Massachussets
A pledge of one's credit is has tangible value.

No argument.

But I was responding to a question whether the Chrysler bail-out had cost the taxpayeres any money.

The answer is: none at all.

46 posted on 06/12/2012 9:02:22 AM PDT by okie01
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To: JohnLongIsland

Should be named La Dee Da


47 posted on 06/12/2012 9:13:06 AM PDT by Mind-numbed Robot
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To: Cringing Negativism Network

There are certain products which cannot be exported for national security reasons. Companies could be designated the same.

The problem is not the laws so much as it is dishonest and unpatriotic people. Bill Clinton sold an entire airplane manufacturing plant, a property of the defunct McDonnald Douglas Co., to China for $5 million. The plant was easily worth several hundred million. It also had critcal airframe bending and shaping equipmrnt necessary for airplane manufacturing. That itself was worth much more than the $5 mil.

Jimmy Carter gave away the Panama Canal and allowed China to control both ends of it. Jimmy Carter also cut our Navy in half. Later Clinton halved it again and recently Obama has again cut it to less than 300 ships total. This is at a time when China is rapidly expanding their navy.

As I said, honesty and patriotism are the keys and we have consistently elected the opposite.


48 posted on 06/12/2012 9:24:58 AM PDT by Mind-numbed Robot
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To: okie01
It would have marginally affected the price of U.S. Treasuries at auction — the “tangible cost” — and therefore did cost the taxpayers money.

Regardless of whether you guarantee a loan or make a loan, you are loaning money and paying interest on it. Same for the taxpayers.

49 posted on 06/12/2012 9:46:13 AM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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To: Lonesome in Massachussets
Regardless of whether you guarantee a loan or make a loan, you are loaning money and paying interest on it.

If, at the time, we were talking about the balance sheet at GM or AT&T, I'd agree with you. The guarantee would've constrained corporate finances...just a little bit.

But we're talking about the federal government's balance sheet here. If the procedure cost any individual taxpayer as much as a penny, I'd be shocked.

Understanding that neither of us can prove it, one way or the other.

50 posted on 06/12/2012 11:37:23 AM PDT by okie01
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To: Charles Henrickson
But there are a few other powers enumerated in the Constitution: a common currency, the post office (ironically enough)...

Mr. Henrickson -- I thank you for the response and at the risk of thread drift, that part of Article I (Section 8, Clause 7) has been a thorny issue for about the last 20 years when private enterprise (notably FedEx) and electronic communications have made a government-run postal system an anachronism.

The so-called "Postal Clause" is subject to interpretation and, I think, its original intent was lost over the years giving us the travesty now known as the USPS. I personally favor a very strict construction of what Clause 7 means which would allow the government to remove itself entirely from anything involving the delivery of mail. The USPS is a money-losing proposition and is in the firm hands of union thugs. In an ideal world, I'd like to see it eliminated entirely. But would that view that I favor be fully in harmony with the Constitution (without taking the leftist view of a "living, breathing" document)?

51 posted on 06/12/2012 12:50:26 PM PDT by re_nortex (DP...that's what I like about Texas.)
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To: okie01

It’s more than the immediate overhang of Chrysler debt; it’s the preception by the markets that the government was changing it’s behavour.

There is also the burden on Ford and to a lesser extent of all other business borrowers as a result of the way that the administration shafted GM and Chrysler’s senior creditors.


52 posted on 06/12/2012 2:57:41 PM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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To: Lonesome in Massachussets
It’s more than the immediate overhang of Chrysler debt; it’s the preception by the markets that the government was changing it’s behavour.

There is also the burden on Ford and to a lesser extent of all other business borrowers as a result of the way that the administration shafted GM and Chrysler’s senior creditors.

I'm afraid we're not communicating.

I was responding to a question about the 1979 loan guarantee issued to Chrysler when Iaccoca was the CEO.

You appear to be addressing the Obama administration's bankruptcy shenanigans of a more recent vintage.

53 posted on 06/12/2012 5:09:04 PM PDT by okie01
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To: okie01

You are correct, I was digressing. More to the point, when the Government guarantees the debt of a private company, it benefits that company, its owners, employees, suppliers and creditors. But, it is like eating salted peanuts, or rolling over credit card debt: it’s bad for you and leads to the danger of becoming a habit.


54 posted on 06/13/2012 4:05:37 AM PDT by Lonesome in Massachussets (The Democratic Party strongly supports full civil rights for necro-Americans!)
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