Let GM go Bankrupt

They're wrong on both counts; they have no idea what "socialist" means, and they equate "partial" ownership by taxpayers of a commercial enterprise to socialism.

They probably have no idea how the stock market or 401k's work in a capitalistic system of economics.

Look, look.... two guys (oe & ci) getting it wrong.... again.


The U.S. Treasury would own 72.5 percent of the new GM coming out of a bankruptcy sale process while a trust
affiliated with the United Auto Workers union would own 17.5 percent, GM said in a filing with securities regulators.

And why does that mean it's "time to lock and load"?

What of it if the US Treasury owns 72.5% of GM? What's your point?

Provide some rational answers, because even when the US Treasury owns a majority stake in any commercial enterprise such as GM, 1) our government is not going to run the operations, and 2) it's a very, very, very, small percentage of the US's GDP.

Also, you may wish to observe why the Obama team thought it a good idea to take the action they did with the auto companies. I can think of several; but you can try to come up with one or two.

are you building up to something?, perhaps a meaningful question...

Name one.

It's called "jobs." Eureka!

It's not only the people working in the factories; it's all the suppliers, the transportation system, the retailers, and loan companies (banks, credit unions, finance companies, and their own credit company).

Having said that, although I can understand why the Obama team tried to prop up the auto industry, I disagreed with their action. We must also remember that the auto industry bailouts began with Bush to the tune of some $17 billion dollars. The reasoning is very basic and fundamental; all those millions of people losing their jobs do not have the same tax funded bailouts for their jobs and benefits, and I believe it highly unfair.

The jobless rate is growing.

Would you like to take another stab at it?

20K jobs will be lost when GM goes into bankruptcy.

those jobs should have been gone long ago, if all the auto companies had been responsible business people they would have shed the excess years ago

GM should have filed bankruptcy on their own long ago avoiding this bull **** Obama/UAW scam of a deal that is costing the tax payers Billions.

or they could have stood up to the unions and closed plants like they tried to do many times, but every time, the union pissed and moaned, which is there right to do, and the companies backed down

i live near windsor and detroit, the auto capital of north america, i've been watching this crap between the unions and the auto companies for years

I wish they had stood up to the unions many, many years ago, but there is zero
chance of this ever happening now that the UAW has Obama in their back pocket.

Only the best of the best will survive... GM won't survive.

You missed the whole message. Are you that dense?

The message is that PrezBO is killing our economy. He is causing a rise in unemployment.
The message is that O boy and his ilk have no ******* clue what they are doing.
Even a dolt such as yourself should see this message.

How is Obama "killing our economy?"

Your opinions are worth less than my dung!

Just as I expected... you have no answers.

Re: H2O MAN (Post 3664664)
How is Obama "killing our economy?"

forget trying to get anything sensible out him. it's bullshit meant only to annoy to the point that others leave. really, taken most of the fun out of it. so, **** 'em.

Couldn't have said it any better myself. Thx.