SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: TideGlider who wrote (834304)2/4/2015 5:30:48 PM
From: i-node1 Recommendation

Recommended By
TideGlider

  Read Replies (1) of 1578127
 
>> I thought I read GM still owes the USA 30 billion which it doesn't have to pay back?

My recollection was that the US was out of it, and taxpayers lost about $10B on the deal. But I really don't remember the details.

My problem with the GM deal was the illegal, corrupt involvement of the administration in it. It should never have happened. It was unnecessary for the US to have lost one red cent on it, and because the UAW now has far too much control, the company will undoubtedly end up back in Chapter 11. When it does, taxpayers will once again pony up whatever money is necessary to keep them going.

Obama was drunk with power (still is, actually) and saw no downside in just ordering the lenders to do whatever he wanted. After all, they had too much at stake to say, "No." The Chapter 11 process is forever tainted, IMO, and taxpayers will be called on in the future to bailout any large organization that has many employees who are Democrats.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News