Posted on 04/24/2010 3:36:54 AM PDT by Sub-Driver
Obama says auto bailouts have paid off Photo 6:09am EDT
By Steve Holland
ASHEVILLE, North Carolina (Reuters) - President Barack Obama said on Saturday taxpayer-funded bailouts of the auto industry that he approved had paid off, in what amounted to a rejection of conservative arguments against such government help.
In his weekly radio and Web address, Obama kept up the pressure for an overhaul of U.S. financial regulations, saying the promising news from the auto industry had not reduced the need for Wall Street changes.
Government bailouts of Wall Street, begun by then-President George W. Bush in 2008 and continued by Obama, have come under heavy criticism from conservatives who feel the government is spending too much money and that big firms should be allowed to fail.
(Excerpt) Read more at reuters.com ...
And "Chrysler" is now little more than a nameplate owned by a foreign car company.
They used to say, the worst day fishing is better than the best day doing anything else.
Sounds like your group disproved that.
Ed “I can respect that” Whitacre, you lying POS. The crash test dummies on the forklift behind you have more credibility. I have NO respect for lying POS scumbags like you and your boss...the lying POS president.
http://www.autoblog.com/2010/04/22/video-ed-whitacre-tells-america-gm-has-repaid-u-s-loans-in-new/
“GM PAID BACK LOANS FIVE YEARS EARLY!”
I heard an ad last night saying that and telling me why I should now buy one of GM’s “fine vehicles”. The spokesman acknowledged that the bailout had angered many people but that was all in the past.
It made me mad as hell and determined to NEVER purchase a GM vehicle. It was pure pandering and suggested that they recognize that they have a big PR problem. I haven’t seen sales figures for GM for the last couple of quarters, but they must really suck.
The whole ad had a kind of “we know we raped your daughter and burned down your house but we’ve turned over a new leaf so please forgive us” tone that was just sickening.
Keep reading what they put on the teleprompter Ohaha!
Obama says lots of stupid things.
See post 18..
Just my gut feel, why would they be doing a big PR campaign, that is full of prevarications (for those of you in Rio Linda that is a lie :-)) all week? Unless the free-market solution (Ford) makes them look bad, and path that was taken by them ( GM ) will bring them added scrutiny and make even more people pissed that their experiment maybe be based on a failed model and may ultimately fail....
concerning the stockholders...
their holdings were worthless
Obama overlooked one small thing. .He had the bondholders for GM paid off on cents on the dollar and then had the bonds reissued to the unions. This is nationalization on a large scale.
Obama used the bankruptcy court to do it.
EFF OBAMA.
The bail out will never be OK because of the political crime commmitted against GM bond holders.
I have a suspicion GM paid off the bail out so they are free to sell the company off. It will be interesting to see what happens in the year-if that long.
GM and the administration, if possible, should be brought into a court case accusing them of defrauding the public with this BS that they paid back the bailouts. This is fraud pure and simple and it needs to be dragged into court and the public eye.
Sarbanes Oxley is real specific about CEO's and accuracy of information i.e. the qtrly and annual reports. They have to sign off on them and if the numbers are wrong, well the spectre of jail time looms.
With that said, was Whitacre in violation of any aspects of Sarbanes Oxley with his statements this past week?
The government took $50 out of your left pocket and put $5 in your right pocket.
How ya feelin now?
The list, ping
Like I have to hide my pockets.
GM may survive....but the truth is, it is "damaged goods" and can never again stand tall in my opinion. After all...it stands for everything I abhor.
bump
Preview of what I suspected by reading all the good tea leaves, (i.e. increase in mkt share here and abroad, reduction in debt, etc. etc.)
From the Detroit Free Press Sunday Edtion, the Cover title: Ford profit: $1 billion
Link here since it can't be posted:
http://www.freep.com/article/20100425/BUSINESS01/4250425/1210/business01/Ford-profit-1-billion
So again I ask, is this why Whitacre although telling a canard, has been pumping GM all week not to look bad against Ford's potential good news coming?
At some point soon, does CNBC, Fox Business, and or Bloomberg will do a comparison and the Free Market vs. Obamanism which will not make the dear leader look good.....
IMHO the antiseptic properties of this sunlight will not be good for "O"...
Bttt.........
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