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The Sandbox - National The Sandbox is a collection of off-topic discussions. Humorous threads, Sports talk, and a wide variety of other topics can be found here.

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Old 12-19-2012, 11:03 AM   #1
Whirlaway
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Default OBAMA GM POLICY COSTS US BILLIONS....

Treasury announces GM exit strategy; automaker buying 200 million shares from U.S.

.
.. taxpayers will almost certainly lose billions of dollars in the $49.5 billion GM bailout. If the government sold the rest of its stock at current prices, taxpayers would lose more than $13 billion.
From The Detroit News: http://www.detroitnews.com/article/2...#ixzz2FWC7jfGA
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Old 12-19-2012, 11:07 AM   #2
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The average American voter just thinks Obama saved GM. That's the sum total of their knowledge on the topic. Ignorance is the demagogue's best tool.
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Old 12-19-2012, 11:16 AM   #3
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How many shares to you guys have?
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Old 12-19-2012, 12:13 PM   #4
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We all have shares, Ekim, thanks to Obama. And we all lose.
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Old 12-19-2012, 02:16 PM   #5
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good glad you are suffering the loss with me.
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Old 12-19-2012, 02:21 PM   #6
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We all have shares, Ekim, thanks to Obama. And we all lose.
TARP started where again?
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Old 12-19-2012, 05:00 PM   #7
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SSSSH the banks paid back all that money.Right?
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Old 12-19-2012, 05:16 PM   #8
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TARP was the Bush plan; and yes the banks paid back the TARP funds, with interest.

The same can't be said for Obama's GM boondoggle.......
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Old 12-19-2012, 05:20 PM   #9
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Quote:
Originally Posted by Whirlaway View Post
TARP was the Bush plan; and yes the banks paid back the TARP funds, with interest.

The same can't be said for Obama's GM boondoggle.......the funds for GM bailout were put in place by Bush in 2008; Obama was the Santa Claus who handed out the GM money with no expectation of it being paid back; his payoff to the unions !

The Bush policy was to let GM go through an orderly bankruptcy proceedings; taxpayers, creditors, and others would have been protected...But Obama had no interest in protecting taxpayer assets........he was only interested in political expediency !

translation


CONGRESS passed out $$$ to the car guys set aside by Bush
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Old 12-19-2012, 06:10 PM   #10
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Uncle Sam Books 50% Loss As Government Motors Buys Back 200MM Shares From Tim Geithner

http://www.zerohedge.com/news/2012-1...-stake-50-loss
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Old 12-19-2012, 06:29 PM   #11
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Quote:
Originally Posted by Whirlaway View Post
TARP was the Bush plan; and yes the banks paid back the TARP funds, with interest.

.......
Really?


http://finance.yahoo.com/blogs/danie...205658852.html


That adds up to a total of $103.3 million.
But sometimes there's less than meets the eye. Generally, banks that repaid CPP funds did so with cash raised from earnings, or by raising new outside capital. In finance and banking you always have to read the fine print. And if you go back to the report, you'll notice that the fine print accompanying the entries for each of the above exits makes reference either to Footnote 49 or Footnote 50. Footnote 49 reads: "Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 using proceeds received in connection with the institution's participation in the Small Business Lending Fund." Footnote 50 reads: "Repayment pursuant to Title VII, Section 7001(g) of the American Recovery and Reinvestment Act of 2009 — part of the repayment amount obtained from proceeds received in connection with the institution's participation in the Small Business Lending Fund."
All of which is to say that these banks repaid cash owed to a program run by the Treasury Department by. . . borrowing from another program run by the Treasury Department.
The Small Business Lending Fund was created last fall as part of the Small Business Jobs Act, a bipartisan piece of legislation passed last fall. The idea was to make cash available to smallish community banks (those with assets of $10 billion or less), and then give them incentives or rewards for making small-business loans, defined in this fact sheet as "certain loans of up to $10 million to businesses with up to $50 million in annual revenues."
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Old 12-19-2012, 09:16 PM   #12
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Quote:
Originally Posted by Whirlaway View Post
TARP was the Bush plan; and yes the banks paid back the TARP funds, with interest.

The same can't be said for Obama's GM boondoggle.......


snock snick
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