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I think the GM documentary where GM workers admitted they built defective vehicles and sent them out for dealers to deal with and those that got those defective vehicle do not forget. You reap what you sow. Even GM management admits that past.GM ad Chrysler loans were losing loans and it was Banks who paid back with good profit. Still some small banks of which 500 went under and closed but the big bank loans more than paid those loses with still a profit. look how GM hid behind the bankruptcy terms yet want other special provisions such as unions moved ahead of other bondholders like other pension systems and retirement accounts. GM has to live with the history they created; plain and simple.
Do you have proof that the big banks paid back the money what proof do we really have, you can't believe everything on the net. If GM and Chrysler were to fail every state in the USA would feel the effect , have any of you know how big GM really is they were at one time the largest employer in the country, they buy supplies made in just about every state in the union. So letting GM and Chrysler would of cost jobs through out this nation and put us in a depression worse than the great depression of 1929 and that lasted 10 years .
GM used the $49.5 billion to pay its $5.8 billion TAARP Loan. lol General Motors’ Debt
All the sources i read online say it was paid back in full with interest.
The government wanted GM to pay an extra 10 billion because the government lost money selling GM shares. That was part of the bailout deal the government purchased stock in the company. Like anyone investing there is no guarantee you will recoup or profit. The government made the call to invest in a struggling company so they took the risk an GM should not be forced to pay extra.
IMO owning a GM vehicle is the least patriotic purchase you can buy. It’s pathetic that people try to compare the government to a run of the mill investor when it came to saving GM’s sorry and pathetic feeble butt. The unions pretty much had a gun to every political flunky’s head in DC that bailout or else. There always seems to be this weak argument that if GM went under we would have went into a depression. It’s safe to say that the slack would have been picked up by Ford and Chrysler. It's also safe to say that GM will find it's way to losing money again when this current car/truck bubble pops
IMO owning a GM vehicle is the least patriotic purchase you can buy. It’s pathetic that people try to compare the government to a run of the mill investor when it came to saving GM’s sorry and pathetic feeble butt. The unions pretty much had a gun to every political flunky’s head in DC that bailout or else. There always seems to be this weak argument that if GM went under we would have went into a depression. It’s safe to say that the slack would have been picked up by Ford and Chrysler. It's also safe to say that GM will find it's way to losing money again when this current car/truck bubble pops
Opinion's are like buttholes everyone has one and yours stinks. I know the bailout effected you personally right, that's why you are pissed about the bailout and it would not effect you if they went under right? And screw the millions that would be effected as long as it dose not effect me.
You buy gas, though.
Big Oil gets a GM sized handout every year.
You should just stop driving, since it so offends your sensibilities.
Quote:
Originally Posted by Fargobound
It’s safe to say that the slack would have been picked up by Ford and Chrysler.
Uhhh... Chrysler got a bailout, too. Another selective indignant.
Quote:
There always seems to be this weak argument that if GM went under we would have went into a depression.
Since you didn't even know that Chrysler got a bailout, needless to say I'm very pleased that you are not a decision maker.
I don't need to speculate on whether or not we would've had a depression.
There was a bailout, production was not disrupted, Ford did not go bankrupt and there was no depression.
The ultimate goal was "no depression". To quote bailout approver George W. Bush... Mission Accomplished.
Allan Mullaly was in favor of the bailouts. Ford were on the verge themselves and he knew that the domino effect of a GM collapse would've taken down Ford's suppliers, followed by Ford themselves. It only takes one missing part to shut down an assembly line.
Quote:
Originally Posted by eddie1278
All the sources i read online say it was paid back in full with interest.
GM did pay them back in full.
The government held GM stock and the value of stock is not guaranteed.
Like every other investor in the world, they didn't lose a penny until they sold.
If not for political pressure, they could've held the stock long term.
You buy gas, though.
Big Oil gets a GM sized handout every year.
You should just stop driving, since it so offends your sensibilities.
Uhhh... Chrysler got a bailout, too. Another selective indignant.
Since you didn't even know that Chrysler got a bailout, needless to say I'm very pleased that you are not a decision maker.
I don't need to speculate on whether or not we would've had a depression.
There was a bailout, production was not disrupted, Ford did not go bankrupt and there was no depression.
The ultimate goal was "no depression". To quote bailout approver George W. Bush... Mission Accomplished.
Allan Mullaly was in favor of the bailouts. Ford were on the verge themselves and he knew that the domino effect of a GM collapse would've taken down Ford's suppliers, followed by Ford themselves. It only takes one missing part to shut down an assembly line.
GM did pay them back in full.
The government held GM stock and the value of stock is not guaranteed.
Like every other investor in the world, they didn't lose a penny until they sold.
If not for political pressure, they could've held the stock long term.
I like it that all these Big 3 bashers do not know anything about the auto business they think they do but they don't. I worked for Chrysler and my father retired from GM I know the auto industry allot better than some on here that never set foot on the plant floor or never been to a parts supplier plant to see the amount of people that work there, but they don't care about others lively hood as long as it dose not effect them. Real compassionate people on here some want to play hard ass and could give a rats but about anyone but them selfs. And yes I'm from Michigan and proud to be a former UAW member. And the bashers on here still use the banks that started this whole financial crisis that caused millions to loose their jobs boy talk about double standards.
I like it that all these Big 3 bashers do not know anything about the auto business they think they do but they don't. I worked for Chrysler and my father retired from GM I know the auto industry allot better than some on here
So you admit that you got a little bias and arrogance to boot?
No offense, but just because you father worked for GM and you for FIAT don't really mean you know anything about the entire automotive industry.
So you admit that you got a little bias and arrogance to boot?
No offense, but just because you father worked for GM and you for FIAT don't really mean you know anything about the entire automotive industry.
I know more than most on here I have frinds that still work for them, I keep up with all the happening of the big3. Have you worked on the line, do you know how a car or truck are made have you seen inside a plant. My friends brother is the plant manager at the Chrysler warren truck assembly the same plant I worked at. So he knows all about the industry. People on here just speculate I get my answere from the source.
I know more than most on here I have frinds that still work for them, I keep up with all the happening of the big3. Have you worked on the line, do you know how a car or truck are made have you seen inside a plant. My friends brother is the plant manager at the Chrysler warren truck assembly the same plant I worked at. So he knows all about the industry. People on here just speculate I get my answere from the source.
So you get your buffet of automotive brain food out of one guy at one truck plant?
My life ended when the government bailed out GM. I lost my wife, my children, my house and most importantly my 2005 GTO. It was my first brand new car.
GM ruined my life.
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