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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
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1
posted on
12/20/2012 8:47:10 AM PST
by
jazusamo
To: All
2
posted on
12/20/2012 8:48:28 AM PST
by
jazusamo
("Intellect is not wisdom" -- Thomas Sowell)
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
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
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.)
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)
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.)
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)
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.)
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)
To: jazusamo
This wont affect them in the least, theyre 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.)
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.)
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)
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)
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..... ))
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 GMthis 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)
To: jazusamo
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)
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.)
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)
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.)
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