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Why didn't the government allow GM to fail when they went belly up in 2009?


rigney
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We have a new problem now that GM wants to restructure, "yet again". It's said that government don't want to interfere, but will Obamas ignorant crew get their sorry asses out of the mix before doom and gloom strikes again?

http://articles.washingtonpost.com/2009-04-28/business/36871442_1_gm-bonds-fritz-henderson-richard-wagoner

Edited by rigney
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The government of the US was launched into GM's affairs by W, in 2008, with large sums of bailout cash handed over to the existing topheavy and overpaid executive team at GM without further oversight (W had previously made sure to keep their tax breaks in place, so the bonuses they paid themselves from this windfall were largely untaxed). He then handed the situation over to Obama, along with the rest of the shambles he had made of the US economy and governance.

 

Obama's contribution in the GM case was to refuse further W-style gifts of taxpayer cash without strings, and require substantial reorginazation through regular bankrupcy and significant pruning of its executive ranks, along with close Federal oversight on its spending of any further taxpayer monies, before agreeing to save the hundreds of thousands of jobs at stake right at the beginning of the Second Republican Crash. http://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization

 

Fully extricating the US government from W's tar pit of corrupt incompetence would take decades, even if the current crop of Republican Congressmen all got tossed from office in their next elections.

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We have a new problem now that GM wants to restructure, "yet again". It's said that government don't want to interfere, but will Obamas ignorant crew get their sorry asses out of the mix before doom and gloom strikes again?

http://articles.washingtonpost.com/2009-04-28/business/36871442_1_gm-bonds-fritz-henderson-richard-wagoner

 

Huh? What do you mean yet again? That's an article from 2009!

 

GM has posted a profit the last 3 years. Where's the evidence that they want to restructure in a way that involves the government?

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And? I have the feeling you are a staunch and strong liberal. Am I wrong? What I'm saying is: It doesn't matter who" left the shit on your door step", as long as you sweep it away. All this administration would have had to do was say: You Mother Fs, failed and now deserve your fate. Bush may have stirred the shit, but Obama has used strange methods, ridding himself of that funky smell.

Edited by rigney
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Huh? What do you mean yet again? That's an article from 2009!

 

GM has posted a profit the last 3 years. Where's the evidence that they want to restructure in a way that involves the government?

I second swansont's post. The OP needs a blue"[citation needed]".
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And? I have the feeling you are a staunch and strong liberal. Am I wrong? What I'm saying is: It doesn't matter who" left the shit on your door step", as long as you sweep it away. All this administration would have had to do was say: You Mother Fs, failed and now deserve your fate. Bush may have stirred the shit, but Obama has used strange methods, ridding himself of that funky smell.

 

My political persuasion doesn't effing matter. We're dealing with a matter of facts here: is GM asking to be bailed out or restructured by the government again, in 2013? An article from 2009, when the bailout did happen, has no bearing on this.

 

So don't try and distract from your screwup of thinking a 4YO article was new by stirring the pot. Is there an actual new request, or not?

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The hell it doesn't! Are you saying these assholes at GM can keep fu--in' up with no one being responsible? Personally, I'm hoping for a total government buy out to let you liberal lames know the sad direction you are taking. "Blaah"!

Edited by rigney
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We have a new problem now that GM wants to restructure, "yet again". It's said that government don't want to interfere, but will Obamas ignorant crew get their sorry asses out of the mix before doom and gloom strikes again?

http://articles.washingtonpost.com/2009-04-28/business/36871442_1_gm-bonds-fritz-henderson-richard-wagoner

 

You are MISTAKEN. You quoted a 4 year old story. GM is actually looking for modest profit growth in 2013. You are MISTAKEN.

 

The hell it doesn't! Are you saying these assholes at GM can keep fu--in' up with no one being responsible? Personally, I'm hoping for a total government buy out to let you liberal lames know the sad direction you are taking. "Blaah"!

 

You are MISTAKEN. They got bailed out 4 years ago and are doing pretty good today. They are NOT restructuring "yet again". You are MISTAKEN.

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!

Moderator Note


Enough. Rigney, you were warned in the past against soapboxing, preaching and trolling, and the OP is competing on all three of those categories.

For the last time: this is not your personal blog.

Thread closed. DO NOT open this again.
I suggest you take a break to go over our rules.

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