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.
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.
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
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
The board plans to meet over the next couple of months to go over the
plan for 2010, the first meeting since bankruptcy.
They want to cut incentives, which are the reason they have sold as well as
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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