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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (645830)	2/18/2012 5:47:39 PM
From: i-node	1 Recommendation Read Replies (2) of 1573130

>> They were exactly the same, taken for the same reasons. No, they were NOT the same. Bush advanced the automakers $17.4 Billion as LOANS. That had to be repaid, and was conditioned on particular restructuring targets being met. Obama effectively had the country take on an equity position and then corrupted the bankruptcy process to hand over substantial control to the UAW. Furthermore, there is some $25 Billion in Obama money that will never, ever be recovered. No, they're not the same. Bush's loans at least adhered to reasonable business standards. Obama broke new ground in moving the country to take an ownership stake in GM.

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