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 ...
You Lie mr president
I agree...HAR HAR HAR HAR at him!
Well, that explains the push with all the “GM PAID BACK LOANS FIVE YEARS EARLY!” mantra we heard all last week.
It must be nice to have a propoganda arm of the government.
My left pocket paid off my right pocket. Oh boy. I feel so much better now.
Exactly. My take home pay didn’t change, did yours?
Tell that to the bond holders ...
Ding ding ding! We have a winner! First the guvmint steals GM from it’s owners, then lends itself the money to pay off a fraction of the total debt and losses!!!
“What Kind of Socialist Is Barack Obama?”
Jonah Goldberg
May 2010
http://www.commentarymagazine.com/viewarticle.cfm/what-kind-of-socialist-is-barack-obama—15421
Obama touts the success of everything he has done since he came to office.
As usual -—he lies.
It is a “success” only if that is achieved by our having less of our own money and Zero increasing his power over our lives.
They have paid off, but not for the taxpayers. So he is right, technically
Wow he sure is up early making radio addresses while on vacation. The man is a machine! /s
Seriously, when was this written?
Obama who is paying the 9 billion in unfunded union benefits? GM or US taxpayer? US taxpayer
Give GM their own printing press and cut out the FED middle man.
Paid off the UAW......
Notice this has been going on for how many days now? The repayment of the Tarp which is a government money from one pocket to the other. But they still repeat the lie... Why?
My pet theory is watch Tuesday the 27th.....
Why Tuesday? Ford's 1st Qtr Earnings.
My guess they will be through the roof (not investment advice here...) and Obama can't have that.
You see it is to much of a contrast, the mess GM and Chrysler are still in vs. the "Free Market" solution Ford took. It makes him look really bad.
Worse, it may make Mulally an even bigger hero and people will ask the inevitable question, does Mulally have a political career and IMHO he is a huge threat to Obama because he has gotten it done...
They didn’t “pay it back” they gave the government ownership interest in stock. So, we the taxpayers bought a company that has a $27 billion unfunded pension fund owed to union workers. That was probably then entire reason for taking over GM, so that the taxpayer would be on the hook to pay off that pension fund and all future pension fund obligations in perpetuity. I wouldn’t be surprised if every union worker retires with a Senatorial pension.
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