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Old 02-26-2013, 07:28 AM
 
Location: Austin
29,546 posts, read 16,493,451 times
Reputation: 8087

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Thanks Mr Obama, for taking our hard earned tax dollars and giving them to GM so your union buddies (voters) can keep their cushy jobs.

The plan the U.S. announced today to sell its remaining 500 million shares of General Motors virtually guarantees a substantial taxpayer loss on the $49.5 billion bailout.
The Treasury Department today said that it will sell all its stock in GM within 12 to 15 months and sell 40% of its stake within weeks, starting with a $5.5 billion deal for GM to buy back 200 million of its shares as soon as next month at $27.50 per share.

The government would have needed about $53 per share for its 26% stake to break even on the bailout. The deal negotiated with GM for the 200 million shares will cut the U.S. stake to 19% but raise the price needed to break even on the remaining 300 million government shares to nearly $70.

Government to shed GM stake, taxpayer loss likely
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Old 02-26-2013, 07:30 AM
 
Location: Great State of Texas
86,093 posts, read 72,534,315 times
Reputation: 27566
I never thought we'd make a profit from that..didn't even think we'd break even.
That was quite obvious.
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Old 02-26-2013, 07:35 AM
 
Location: Jawjah
2,468 posts, read 1,597,550 times
Reputation: 1099
So why were Romney and the GOP trying to take credit for the auto-industry recovery? As usual the GOP is shallow, clueless and willing to do whatever it takes and sit on both sides of an issue..
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Old 02-26-2013, 07:36 AM
 
Location: Austin
29,546 posts, read 16,493,451 times
Reputation: 8087
Quote:
Originally Posted by rorqual View Post
So why were Romney and the GOP trying to take credit for the auto-industry recovery? As usual the GOP is shallow, clueless and willing to do whatever it takes and sit on both sides of an issue..
Off topic. Try to keep up.
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Old 02-26-2013, 07:36 AM
 
Location: Great State of Texas
86,093 posts, read 72,534,315 times
Reputation: 27566
Quote:
Originally Posted by rorqual View Post
So why were Romney and the GOP trying to take credit for the auto-industry recovery? As usual the GOP is shallow, clueless and willing to do whatever it takes and sit on both sides of an issue..
What does that have to do with selling GM stock ?
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Old 02-26-2013, 07:37 AM
 
Location: Fredericktown,Ohio
6,954 posts, read 4,424,494 times
Reputation: 2764
What was sickening was the GM commercials saying they paid all the money back.
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Old 02-26-2013, 07:38 AM
 
9,856 posts, read 13,430,119 times
Reputation: 5453
Quote:
Originally Posted by rorqual View Post
So why were Romney and the GOP trying to take credit for the auto-industry recovery? As usual the GOP is shallow, clueless and willing to do whatever it takes and sit on both sides of an issue..
And you think Obama's campaign didn't obscure facts and take credit for things that never happened?

As usual, liberals are so clueless that they can be completely controlled by the democratic party.
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Old 02-26-2013, 07:47 AM
 
29,757 posts, read 16,447,864 times
Reputation: 13826
Auto bailouts, one of the great crimes of the century committed against the taxpayer
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Old 02-26-2013, 07:52 AM
 
23,851 posts, read 19,859,138 times
Reputation: 9383
Absolutely disgusting. I'd like to know how many liberals will come forthright and cheer this nauseating development? No doubt someone will come along and praise Barack Obama (while simultaneously ignoring GWB).
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Old 02-26-2013, 07:54 AM
 
Location: Great State of Texas
86,093 posts, read 72,534,315 times
Reputation: 27566
Quote:
Originally Posted by Swingblade View Post
What was sickening was the GM commercials saying they paid all the money back.
Well they did. They borrowed from the government under a different program to pay back the loan that was the focus of media press. They just didn't tell you.

The banks did the same thing. They borrowed from other government programs to pay back TARP.
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