GM Financials - Bet they are bad

GM is being pretty darned quiet in the public eye as of late. In the last year this usually means they are asking for more taxpayers money.
Never invest good money after bad, it just means you loose more.
And everyone is being real quiet on where the money is really landing after it is moved out from GM. If it leaks before 2012, I am sure BO will be a one hit wonder that gets to have the honor of being responsible for the worlds largest debt increase by anyone alive or dead.
We should have the Guness Book of Records enter that. The man that has cause more debt than anyone else. BO.
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On Fri, 18 Sep 2009 17:56:23 -0600, Canuck57 wrote:

What about the Chrysler bailout a few decades ago. It went very well, but was also hinged on new management that knew how to manage. Empty Brain never managed anything and we put him in charge of the country.

He already has and has not been in office for a year yet.
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Doesn't even compare. First, Chrysler didn't carry a whopping $177B in debt they couldn't pay, thus feasable they might be able to pay it back. With GMs load of bad and fraudulent debt, it was more of a criminal act that they continue. No half sane person ever expects the $100B from taxpayers will ever be repaid. And was not Chrylsers loan only a billion? How does that even compare to the $100B today?
It isn't the same. Not even close.

Yep. $1.3T total with the promise of more to come. I can't think of any one person that has caused that much debt in such a short time. All to bailout corrupt Wall Street Carlyle, Cerberus and other insiders. At taxpayers expense of course. I figure this is going to lead to a revolution in due time, might take a decade, but with the amount of defunct government debt from so many years of fiscal irresponsibility it will occur. Just will take time.
And the GMs will fail like dominos. Many like me, former customers will not subscribe to patronizing corrupt GM. Their brand is permanently damaged in my mind.
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I love my new Camaro...
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The board plans to meet over the next couple of months to go over the business plan for 2010, the first meeting since bankruptcy.
They want to cut incentives, which are the reason they have sold as well as they have. In 2010 they expect to sell 10% more than the breakeven point...(but will the breakeven point stay where it is? )
Keep your wallet out of sight...Obama may come knocking on your door again, and he'll huff and he'll puff...
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