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Old 02-15-2009, 10:42 AM
 
20,187 posts, read 23,858,535 times
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Obama and his fellow Dems pushed and pushed very hard to give bailout money to the automakers.... Well, GM is contemplating filing for bankruptcy, Chapter 11.... wait a minute, wasn't that what everyone (mostly Republicans) were pushing for? So we gave them billions only to go back and go the other way? It appears Obama and his fellow Dems were wrong... don't expect apologies from their ideologic followers... that money would of been better spent somewhere else....

http://www.reuters.com/article/priva...=privateEquity
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Old 02-15-2009, 10:45 AM
 
35,016 posts, read 39,159,646 times
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Bankruptcy in this case is another form of restructuring, they're not going out of business. Also accdg to your article they're $28B in debt as is.
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Old 02-15-2009, 10:50 AM
 
20,187 posts, read 23,858,535 times
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Yes, that's what a lot of Republicans were telling (yelling perhaps?) them to do... RESTRUCTURE... Dems and Obama said no... they wanted to give billions away and "see" what happened... it appears that was the wrong move to do... maybe you missed my "Chapter 11" statement... it is bankruptcy with restructuring which is what the Republicans wanted at the very beginning... Obama wouldn't have it...
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Old 02-15-2009, 10:59 AM
 
Location: toronto, Canada
773 posts, read 1,215,434 times
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Reuters did a follow up story to Evilnewbie's article.
Gm is floating the idea of taking its viable assets and assembling then under a new company.
Undesirable assets could then be liquidated.
GM considering Chapter 11 filing, new company: report | U.S. | Reuters
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Old 02-15-2009, 11:05 AM
 
216 posts, read 290,633 times
Reputation: 58
Quote:
Originally Posted by evilnewbie View Post
Obama and his fellow Dems pushed and pushed very hard to give bailout money to the automakers.... Well, GM is contemplating filing for bankruptcy, Chapter 11.... wait a minute, wasn't that what everyone (mostly Republicans) were pushing for? So we gave them billions only to go back and go the other way? It appears Obama and his fellow Dems were wrong... don't expect apologies from their ideologic followers... that money would of been better spent somewhere else....

GM considering Chapter 11 filing, new company-WSJ | Deals | Private Capital | Reuters
Didn't Automakers get the bailout money under the Bush Administration? I agree that President Obama supported the bailout, but so did Bush, the Republicans, and the Democrats. If we're calling it wrong, they all were wrong.
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Old 02-15-2009, 11:14 AM
 
20,187 posts, read 23,858,535 times
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Nope... Bush sided with the Republicans and said emphatically "No"... they all wanted to restructure the company... however given that his term was almost up and he wanted the transition to be easier, he told Obama, I will basically do whatever you want me to do since you are coming into this mess... this is similar to the 350 Billion TARP money that Bush didn't want to release either, he released only because Obama wanted to..... Obama also said to give the automakers the funds and Bush did so, not because he wanted to but because Obama wanted it... it was all driven by Obama and his fellow Dems pushed the issue in Congress and in the states... it was basically a done deal because of Obama... If Obama said no, it would of never have happened... so the prinicipal actor in this tragedy was Obama and his fellow Dems... however the deadline to prove that the automakers were VIABLE was done by Republicans who didn't think this bailout would work... You have to remember the Dems did not want this deadline and were dead set against it (even Obama was against it)... well, seems like the deadline save the taxpayers billions of dollars...
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Old 02-15-2009, 11:24 AM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,334,196 times
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Quote:
Originally Posted by evilnewbie View Post
Nope... Bush sided with the Republicans and said emphatically "No"... they all wanted to restructure the company... however given that his term was almost up and he wanted the transition to be easier, he told Obama, I will basically do whatever you want me to do since you are coming into this mess... this is similar to the 350 Billion TARP money that Bush didn't want to release either, he released only because Obama wanted to..... Obama also said to give the automakers the funds and Bush did so, not because he wanted to but because Obama wanted it... it was all driven by Obama and his fellow Dems pushed the issue in Congress and in the states... it was basically a done deal because of Obama... If Obama said no, it would of never have happened... so the prinicipal actor in this tragedy was Obama and his fellow Dems... however the deadline to prove that the automakers were VIABLE was done by Republicans who didn't think this bailout would work... You have to remember the Dems did not want this deadline and were dead set against it (even Obama was against it)... well, seems like the deadline save the taxpayers billions of dollars...
Bullsh*t

http://www.nytimes.com/2008/12/13/business/13auto.html

"The decision came after a tense standoff this week in which senior White House officials pleaded with Senate Republicans not to block the measure, including a warning by Vice President Dick Cheney that they would be remembered for decades as the party of Herbert Hoover if the industry collapsed."

Bush didn't WANT to do it, but he was afraid of the consequences on HIS WATCH if he didn't do it. He didn't do it for Obama. He did it to avoid a collapse on HIS PRESIDENCY. That "he only did it for Obama BS" is just more GOP responsibility dodging on YOUR part.

What a load of cr*p.


Ken
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Old 02-15-2009, 11:31 AM
 
20,187 posts, read 23,858,535 times
Reputation: 9283
Apparently the load of crap was all in your mind...

"Obama, an Illinois senator, pressed Bush on the urgency of an assistance package during their Nov. 10 meeting at the White House, Obama spokesman Robert Gibbs told reporters this week.

Still, the Bush administration so far has opposed bailing out the carmakers, and continues to resist the idea of using the Troubled Asset Relief Program, the bank rescue which Congress passed in early October, for any companies other than banks"


Bloomberg.com: News


Its time for YOU Ken to go back to your make-believe world...
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Old 02-15-2009, 11:43 AM
 
7,359 posts, read 10,279,481 times
Reputation: 1893
Quote:
Originally Posted by LordBalfor View Post
Bullsh*t

http://www.nytimes.com/2008/12/13/business/13auto.html

"The decision came after a tense standoff this week in which senior White House officials pleaded with Senate Republicans not to block the measure, including a warning by Vice President Dick Cheney that they would be remembered for decades as the party of Herbert Hoover if the industry collapsed."

Bush didn't WANT to do it, but he was afraid of the consequences on HIS WATCH if he didn't do it. He didn't do it for Obama. He did it to avoid a collapse on HIS PRESIDENCY. That "he only did it for Obama BS" is just more GOP responsibility dodging on YOUR part.

What a load of cr*p.


Ken
It doesn't matter what you say, or what kind of evidence you provide.
Almost every single post by this poster is Obama-bashing. It's been that way for months. Apparently, it's an obsession steeped in hatred. No getting through to that kind of worldview, unfortunately.
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Old 02-15-2009, 11:45 AM
 
20,187 posts, read 23,858,535 times
Reputation: 9283
Thats your excuse for failure? Its because we are holding Obama, accountable... wow... think of that, to hold the President accountable for what happens to the U.S especially when it deals with his policies..... oh my, such a strange concept... for you...
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