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Old 04-01-2019, 08:03 PM
 
Location: Metro Detroit Michigan
3,860 posts, read 1,096,893 times
Reputation: 3074

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Quote:
Originally Posted by gtt99 View Post
Yeah, but we are talking about GM, not banks.
Itís all tax payers money whatís the difference, be real man taxpayers bailed out wall street and the big banks you know the ones that caused the economy to go to hell. They caused people to stop buying vehicles because people could not afford their mortgages. So you tell me whatís the difference between taxpayers money for GM or the banks.
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Old 04-01-2019, 08:07 PM
 
959 posts, read 641,849 times
Reputation: 2286
Quote:
Originally Posted by easy62 View Post
It’s all tax payers money what’s the difference, be real man taxpayers bailed out wall street and the big banks you know the ones that caused the economy to go to hell. They caused people to stop buying vehicles because people could not afford their mortgages. So you tell me what’s the difference between taxpayers money for GM or the banks.
No bank stopped me from buying a vehicle. GM produced crap stopped me from buying THEIR product. I switched to Toyota and never looked back, and yeah, I still fly Red, White, and Blue.
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Old 04-01-2019, 08:10 PM
 
Location: Metro Detroit Michigan
3,860 posts, read 1,096,893 times
Reputation: 3074
Quote:
Originally Posted by gtt99 View Post
No bank stopped me from buying a vehicle. GM produced crap stopped me from buying THEIR product. I switched to Toyota and never looked back, and yeah, I still fly Red, White, and Blue.

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Old 04-02-2019, 11:47 PM
 
Location: Silicon Valley
3,402 posts, read 1,495,152 times
Reputation: 5786
So why would they bail out the automakers and not other industries?

Answer: It's cheaper to keep them going when you consider the devastating impact losing them would have on this country? The only thing keeping me from buying a Tesla is I'm not sure if they'll be in business following a recession and the vehicle is too expensive to not be able to get parts for.

Why did they bail out the banks?

Answer: Because the FDIC has nowhere near the reserves to cover everyone's bank accounts in the event of a bank panic. The cheapest way forward was to bluff. Give all the banks, (whether they needed it or not) a 0% loan to keep people from pulling out their money. Hence the term, too big to fail.

The government, in the long term, ended up making money on both, by the way.
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Old 04-03-2019, 10:12 AM
 
4,710 posts, read 11,815,818 times
Reputation: 3260
Quote:
Originally Posted by eaton53 View Post
GM fulfilled their obligation to the taxpayer.
It's not their fault that their former owner is a stupid investor that sold low.
How about their obligation to the bond holders they left holding the bag?
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Old 04-03-2019, 12:40 PM
 
Location: Metro Detroit Michigan
3,860 posts, read 1,096,893 times
Reputation: 3074
Quote:
Originally Posted by TimtheGuy View Post
How about their obligation to the bond holders they left holding the bag?
Are you a bond holder what about lol the people who lost all their pension money from the
Lehman Brothers BK.
The filing for Chapter 11 bankruptcy protection by financial services firm Lehman Brothers on September 15, 2008, remains the largest bankruptcy filing in U.S. history, with Lehman holding over US$600,000,000,000 in assets. So GM bond holders are not the only people that lost millions during the economic crises in 2008.
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Old 04-03-2019, 07:11 PM
 
959 posts, read 641,849 times
Reputation: 2286
Quote:
Originally Posted by easy62 View Post
Are you a bond holder what about lol the people who lost all their pension money from the
Lehman Brothers BK.
The filing for Chapter 11 bankruptcy protection by financial services firm Lehman Brothers on September 15, 2008, remains the largest bankruptcy filing in U.S. history, with Lehman holding over US$600,000,000,000 in assets. So GM bond holders are not the only people that lost millions during the economic crises in 2008.
You're right Easy62, the Lehman brothers were the largest bankruptcy, but back to the topic since we're discussing GM, what about their bond holders?
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Old 04-03-2019, 07:42 PM
 
Location: Metro Detroit Michigan
3,860 posts, read 1,096,893 times
Reputation: 3074
Quote:
Originally Posted by gtt99 View Post
You're right Easy62, the Lehman brothers were the largest bankruptcy, but back to the topic since we're discussing GM, what about their bond holders?
They lost their money like millions of others from the 2008 recession. Are any of you on here a bond holder why all the concern about them itís a risk they take.
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Old Yesterday, 04:44 AM
 
Location: Fuquay Varina
4,405 posts, read 6,462,297 times
Reputation: 10696
Quote:
Originally Posted by easy62 View Post
They lost their money like millions of others from the 2008 recession. Are any of you on here a bond holder why all the concern about them itís a risk they take.


Because this is an automotive section of the forums and the thread is specifically about GM. Just guessing though.
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Old Yesterday, 05:00 AM
 
Location: Podunk, IA
3,470 posts, read 1,574,551 times
Reputation: 3620
Quote:
Originally Posted by TimtheGuy View Post
How about their obligation to the bond holders they left holding the bag?
They don't have an obligation to bond holders. Bonds are not a government insured investment.
If you want a guarantee, there's a bank on every corner for you.
If you can't handle risk, then stay out of the stock, bond and commodities markets, which are just another form of legalized gambling.
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