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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (601750)	2/24/2011 6:16:09 PM
From: i-node	3 Recommendations Read Replies (2) of 1576221

>> General Motors returns to profit two years after bankruptcy Who doesn't return to profit immediately after a Chapter 11? You obviously don't get it. That's what bankruptcy does: dumps all the bad stuff on the stockholders. In this case, it handed all the good stuff to the god-awful UAW. But you seem to suggest that the Obama meddling somehow IMPROVED GM's bankruptcy, which of course, could not be further from the truth. Had Obama stayed the hell out of it, GM would have come out the other side of the bankruptcy in at least as good shape financially. And the taxpayers wouldn't be holding the bag for $50 Billion or whatever the hell it is now. There is a vast difference between government lending a private company money versus government taking an ownership stake. It should never have been done and the end doesn't justify the means. Were it not for massive government subsidies, GM would have no chance of long term profitability. And I wouldn't give a plug nickel to GM to keep them in business unless a strong-arm socialist government forced me to.

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