Reply to thread

Message

<blockquote data-quote="Buddybrown" data-source="post: 866109" data-attributes="member: 30291"><p>So many maroons, so little time!&nbsp; This is for the ones who keep CROWING that bailing out GM was a good deal! Again, if you just did a simple Google search you’d find out that “making things up”, (also known as Kleining) isn’t as easy to get away with as it used to be.&nbsp; This was clearly a loss for the American tax payer. If GM had be allowed to go BK and then reorganized the, everything I touch goes up in smoke government would have been left out of it as well as the taxpayer.&nbsp;&nbsp; With Chrysler and GM announcing they have repaid their government loans, it did not take long for Democrats to crow that the federal auto bailouts were a clear success. Indeed, the president and his supporters hope to make political hay from these efforts for the 2012 elections.&nbsp; Never mind that the bailouts were a use of taxpayer dollars not even within the initial scope of the constitutionally questionable TARP. Never mind that taxpayers are still a major shareholder in GM. And never mind that these bailouts have ingrained a “too big to fail” strategy among American businesses, who now feel entitled to federal funding should they fall short in the marketplace.&nbsp; There is no justification for sticking the taxpayers with the bill for this misadventure. The taxpayers didn’t want the bailout in the first place—every poll, not to mention the 2010 elections—confirms that view.&nbsp; For taxpayers to recoup their investment, the federal government (currently owns 61%) would have to sell its 365 million shares at a profit. The break-even price would be $55 a share, but GM is currently selling at $28.90.&nbsp; Another case where the government should “STFO” of the private sector.&nbsp;&nbsp; <a href="http://www.foxnews.com/opinion/2011/06/10/truth-about-gm-bailout/#ixzz1UlkJWXhe" target="_blank">http://www.foxnews.com/opinion/2011/06/10/truth-about-gm-bailout/#ixzz1UlkJWXhe</a></p></blockquote><p></p>

[QUOTE="Buddybrown, post: 866109, member: 30291"] So many maroons, so little time! This is for the ones who keep CROWING that bailing out GM was a good deal! Again, if you just did a simple Google search you’d find out that “making things up”, (also known as Kleining) isn’t as easy to get away with as it used to be. This was clearly a loss for the American tax payer. If GM had be allowed to go BK and then reorganized the, everything I touch goes up in smoke government would have been left out of it as well as the taxpayer. With Chrysler and GM announcing they have repaid their government loans, it did not take long for Democrats to crow that the federal auto bailouts were a clear success. Indeed, the president and his supporters hope to make political hay from these efforts for the 2012 elections. Never mind that the bailouts were a use of taxpayer dollars not even within the initial scope of the constitutionally questionable TARP. Never mind that taxpayers are still a major shareholder in GM. And never mind that these bailouts have ingrained a “too big to fail” strategy among American businesses, who now feel entitled to federal funding should they fall short in the marketplace. There is no justification for sticking the taxpayers with the bill for this misadventure. The taxpayers didn’t want the bailout in the first place—every poll, not to mention the 2010 elections—confirms that view. For taxpayers to recoup their investment, the federal government (currently owns 61%) would have to sell its 365 million shares at a profit. The break-even price would be $55 a share, but GM is currently selling at $28.90. Another case where the government should “STFO” of the private sector. [url]http://www.foxnews.com/opinion/2011/06/10/truth-about-gm-bailout/#ixzz1UlkJWXhe[/url] [/QUOTE]

Verification