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Hollywood's Obama and union supporters should have been running out buying GM or Chrysler products to show support for their president's actions and the UAW. Instead, they drive Japanese, German, or Italian cars. I won't jump for joy until GM pays back the full value of the loan as well as buy back all of the federal government's shares in the company.
Seems to me that they have. There are tons of Chrysler and GM products all over network TV these days and particularly on the most-watched shows like "NCIS," "NCIS: LA," CSI," CSI: Miami"...
Location: In a Galaxy far, far away called Germany
4,301 posts, read 4,416,704 times
Reputation: 2397
Quote:
Originally Posted by Finn_Jarber
LOL. If unemployment is 9%, then 91% are working and buying cars.
Also, a lot of the sales go overseas.
Does it make sense now?
PS Unemplyment was over 20% during great depression, so I don't know where you get your information.
Unemployment is way higher than 9%. That number is used with far more "gracious" stats than what was a true account back during the Great Depression. Also, Europe has been in the same recession. I still fly the BS flag on this one. Those mass numbers of autos may have been sold, but probably to our own government as fleet cars or something. I don't know anyone that going out and buying new cars of late. People are just sticking with what they have. Absolute BS here.
Quote:
"I am very pleased to announce that, as of today, General Motors has repaid, in full and with interest, the loans made last July by the U.S. Treasury and Export Development Canada," said GM chief executive Ed Whitacre, speaking at a plant in Fairfax, Kan., where GM builds Chevrolet Malibu and Buick LaCrosse sedans.
I would be pleased too if I could pay off loans with TARP money (like they did). That statement is all about politics. If you dig deeper into the GM 'bailout', it gets ugly.
So....what do the naysayer's have to say now? Was the Obama administration right or wrong?
I'll go to the Chevy dealer up the street tonight and ask them.
Oh, wait... I can't. Obama shut down that dealer, for no reason.
I suppose I could check the unemployment lines for the former employees of that dealer - I'm sure they'll be willing to give Obama a glowing review of how he handled the bailout...
Quote:
"I am very pleased to announce that, as of today, General Motors has repaid, in full and with interest, the loans made last July by the U.S. Treasury and Export Development Canada," said GM chief executive Ed Whitacre, speaking at a plant in Fairfax, Kan., where GM builds Chevrolet Malibu and Buick LaCrosse sedans.
nice try, but you fail, as does the media. a large part of those loans were paid back with money borrowed from the government. the federal government also still owns 26% of gm, and until the stock price gets above $55 per share, the taxpayers will never get the money that gm was given by the government back. gm and chrysler both should have gone through a proper reorganization bankruptcy rather than the government stepping in a stealing both companies from the stock and bond holders.
I'll go to the Chevy dealer up the street tonight and ask them.
Oh, wait... I can't. Obama shut down that dealer, for no reason.
I suppose I could check the unemployment lines for the former employees of that dealer - I'm sure they'll be willing to give Obama a glowing review of how he handled the bailout...
The President himself came to your town and closed a dealership on his own authority?
Wow! I'll bet THAT was big news! Strange that I didn't see it on TV.
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