Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Taxpayers Get Hosed in GM Buyback of Treasury Shares
National Legal & Policy Center ^ | December 20, 2012 | Mark Modica

Posted on 12/20/2012 8:46:58 AM PST by jazusamo

click here to read article


Navigation: use the links below to view more comments.
first 1-2021-22 next last

1 posted on 12/20/2012 8:47:10 AM PST by jazusamo
[ Post Reply | Private Reply | View Replies]

To: All

Working link:

http://nlpc.org/stories/2012/12/20/gm-buyback-treasury%E2%80%99s-shares-no-panacea


2 posted on 12/20/2012 8:48:28 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jazusamo

Any more ‘fairness’ and we can all join the soup line.


3 posted on 12/20/2012 8:50:34 AM PST by relictele
[ Post Reply | Private Reply | To 1 | View Replies]

To: jazusamo

The only reason for the taxpayers’ stake in General Motors was Obama made sure the right wheels got greased.


4 posted on 12/20/2012 8:58:28 AM PST by Vaduz
[ Post Reply | Private Reply | To 1 | View Replies]

To: jazusamo
How many companies pay less income tax than Warren Buffet's secretary?

GM

GE

Feel free to add to this list.

5 posted on 12/20/2012 8:59:14 AM PST by Night Hides Not (The Tea Party was the earthquake, and Chick Fil A the tsunami...100's of aftershocks to come.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: relictele
Yep, it seems the only ones who benefited in this fiasco was the UAW. Though Obama has been crowing the bailout was such a success GM is not out of the woods yet.
6 posted on 12/20/2012 8:59:14 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 3 | View Replies]

To: jazusamo
What about GM's owners:

the former bondholders ?


7 posted on 12/20/2012 9:12:03 AM PST by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your teaching is my delight.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: UriÂ’el-2012

This won’t affect them in the least, they’re still screwed.


8 posted on 12/20/2012 9:19:35 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 7 | View Replies]

To: jazusamo

GM dipped their corporate finger into the indelible purple ink when they sold out to the unions/government, and it will be quite a while before the ink rubs off.

I’m sure GM thinks that buying it back will reverse their “fortunes” on the market, but I can attest that I will never buy another GM product.

In fact, I’m never going to buy another vehicle made in a UAW shop, period.

Unions have become the Gestappo in obama’s quest for socialism/communism and are the primary impetus that put him in office - both times.


9 posted on 12/20/2012 9:21:56 AM PST by FrankR (They will become our ultimate masters the day we surrender the 2nd Amendment.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FrankR
I couldn't agree more with you on unions.

With the union debacles in Wisconsin and Michigan recently and Obama being not only being supported by them but meeting numerous times in the WH with that thug Trumka were the last straws for me.

Unions now are not what they were to the worker in the early part of the last century, they're socialist/communist organizations lead by thugs and criminals for the most part supporting socialist/communist politicians.

10 posted on 12/20/2012 9:32:02 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 9 | View Replies]

To: jazusamo
This won’t affect them in the least, they’re still screwed.

I understand that.

It looks like Contract Law has been
destroyed by Holder & Co.


11 posted on 12/20/2012 9:32:41 AM PST by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your teaching is my delight.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: jazusamo

Channel stuffing is illegal, certainly a SEC violation. Where is the Just Us Department?


12 posted on 12/20/2012 9:38:11 AM PST by NonValueAdded (If you can keep your head when all about you are losing theirs, you've likely misread the situation.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: UriÂ’el-2012
I knew you did and you're dead on the mark about Holder & Co regarding Contract Law.

There were a couple articles very recently about the bankruptcy judge in this bailout having some second thoughts and the possibility of him changing his ruling.

I don't remember the time line, did you see anything on it?

13 posted on 12/20/2012 9:39:24 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 11 | View Replies]

To: NonValueAdded

I believe Holder’s Just Us Dept has been out to lunch since early 2009.


14 posted on 12/20/2012 9:42:09 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 12 | View Replies]

To: UriÂ’el-2012
It looks like Contract Law has been destroyed by Holder & Co.

I wish I could tell you who.. I had this conversation with a mover and shaker that many here may or may not know that noted why would you risk your capital in preferred stock or corporate bonds when a "leader" with a flip of his hand can abscond all your capital and or efforts. IMHO Capital remains on strike and new ideas and inventions stay on holiday and hidden in the filing room drawers for another 4 years....

15 posted on 12/20/2012 9:48:11 AM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
[ Post Reply | Private Reply | To 11 | View Replies]

To: UriÂ’el-2012; All
Found this article from 12-06-12 with a quick check, it's interesting but don't know what the chances are, probably slim.

Excerpt:

The bankruptcy expert said if the two sides cannot come to an agreement on Thursday, Gerber could preside over one of the most historic rulings in bankruptcy court history.

“This has tremendous implications for future of American business and bankruptcy precedent,” he said. “It means more than just GM—this is the rule of law and how creditors are treated in the United States legal system.”

Bailout on the Brink

16 posted on 12/20/2012 10:00:07 AM PST by jazusamo ("Intellect is not wisdom" -- Thomas Sowell)
[ Post Reply | Private Reply | To 11 | View Replies]

To: jazusamo

bkmk


17 posted on 12/20/2012 10:36:46 AM PST by Sergio (An object at rest cannot be stopped! - The Evil Midnight Bomber What Bombs at Midnight)
[ Post Reply | Private Reply | To 1 | View Replies]

To: taildragger; jazusamo
U-29012> It looks like Contract Law has been destroyed

IMHO Capital remains on strike and new ideas and inventions stay on holiday and hidden in the filing room drawers for another 4 years....

Another DRAG on the economy !

18 posted on 12/20/2012 11:52:09 AM PST by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your teaching is my delight.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: jazusamo

There might be one or two FReepers surprised by this. Maybe.


19 posted on 12/20/2012 12:14:08 PM PST by GeronL (http://asspos.blogspot.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jazusamo
Taxpayers Always Get Hosed, Period. in GM Buyback of Treasury Shares

Fixed the title.

20 posted on 12/20/2012 1:22:59 PM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-22 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson