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You should really get your facts straight. GM was a win for both GM and the public. Much of the GM loan has been repaid and the government holds billions in stock. Also, not letting GM go belly up saved $28 billion in unemployment benefits that didn't need to get paid.
On Solyndra:
Gimme an "O"! Gimme a "B"! Gimme an "A"........
Screwing the secured investors to throw the UAW a bone will cost us trillions in future investment.
Of course lefties are too greedy and stupid to understand the connection between government ignoring the law to screw investors and jobs leaving the country.
You should really get your facts straight. GM was a win for both GM and the public. Much of the GM loan has been repaid and the government holds billions in stock. Also, not letting GM go belly up saved $28 billion in unemployment benefits that didn't need to get paid.
We should be grateful for what exactly? At 500 million shares or so the government is in this for the long haul if it ever expects to see an ROI which means the government has to sell shares when they're over $100 a piece. The estimated fair market value of GM by investors is around $45/per.
Last edited by BigJon3475; 07-13-2012 at 10:01 PM..
Are we witnessing the end of the United States with all this that is happening? People are losing faith in the entire system. We have PHD's in economics with Harvard diplomas on their walls with the maturity of a 15 year old. They have no morals or sense of duty to the little people who depend on them to do things right.
Hey, I can build you a house, I can landscape your yard. I can keep the gas and elec going to your house but I have no clue of finance or any of this stuff. We need these people to have some integrity.
The taxpayers are not on the hook for anything to do with the recent JP Morgan loses and Diamon's appearance before Congress.
I didn't say they were specifically, but indeed they are. JPM is making record profits this year. How is that happening in a down economy? When housing is still falling. While unemployment has been 8% plus?
It's because the government is propping them up at the expense of taxpayers.
after the "minsky moment" in 2008, Congress decided that Fannie And Freddie should act as a conduit for taking all the junk assets off the banks' balance sheets. that was part of the bailout.
A part of the agreement from the very beginning. The banks knew that the government would step in and cover the bad loans.
We should be grateful for what exactly? At 500 million shares or so the government is in this for the long haul if it ever expects to see an ROI which means the government has to sell shares when they're over $100 a piece. The estimated fair market value of GM by investors is around $45/per.
Why would anyone buy into GM when the government has shown that if things go bad they will simply dismiss your investment?
It's funny the way this is worded. "Primarily". Who cares who is "primarily" at fault. Both were at fault. Trying to argue who was the most at fault is an absolute waste of time.
I'll ask again. Why were none of these bankers ever charged with anything?
Those bankers own the politicians, so it stands to reason those politicians won't be investigating any of them. Only a few token arrests have been made, but none of the perps who created the financial meltdown have been arrested. This is in stark contrast to the Savings and Loan Crisis back in the eighties, in which thousands of bankers were arrested and jailed and/or fined. The S&L Crisis was also much smaller in scope.
Follow the money (especially the bailout money) and you'll have a better idea of why nobody has been , or will be arrested and charged.
which i blame on republicans, who masquaraded for 3 decades as the fiscally conservative party and should've known better.
Let's not forget who repealed a sixty-year-old act that was designed to keep this from happening. Also consider that Dodd-Frank hasn't done anything to stop MF Global and PFG Best from swindling clients.
Whatever the government regulations, someone will figure out a way around them. I'm wasting my breath since you probably blame republicans for EVERYTHING anyway.
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