US May Lose Up To $25 Billion on Auto Bailout

[CuteOldGuy]

Yes, he saved the industry, and lost the US taxpayer $25 Billion dollars. Had the industry gone through bankruptcy, it would have emerged stronger, and not owed the US taxpayer anything. But the unions are happy. That's all that matters.

Saving the industry. What bullshit.

http://www.detroitnews.com/article/2...TO01/208130392

[CJ7]

maybe that article needs to review who was the POTUS when the initial bailout took place

[i'va biggen]

It did

[CJ7]

yup, sure did

after the first 10 Obama this and thats I quit reading

[Fast Gunn]

Saving the auto industry was bitter medicine for this country.

It would have been catastrophic for the entire country's economy if it had not been done. The effects would have rippled down through other industries and multiplied the negative effects.

It was a wise decision even at the high cost.

However, Detroit really should have never gotten itself into that position in the first place, but that is another story altogether. The auto unions had a death grip on the industry.

. . . Even Romney is saying now that it was really his idea all along!

[CuteOldGuy]

As if Romney saying makes it a good idea.

Chapter 11 would have been better for the industry, and wouldn't have cost the taxpayers anywhere near as much. It was a payoff to Obama's union thugs. Nothing more.

[Fast Gunn]

Nothing of the sort.

The patient was on flat on it's back and gasping it's last breath.

The only thing that could have saved it then was triage on the battlefield.

. . . If President Obama had not stepped in, the patient would have died!

[cptjohnstone]

Originally Posted by Fast Gunn

Saving the auto industry was bitter medicine for this country.

It would have been catastrophic for the entire country's economy if it had not been done. The effects would have rippled down through other industries and multiplied the negative effects.

It was a wise decision even at the high cost.

However, Detroit really should have never gotten itself into that position in the first place, but that is another story altogether. The auto unions had a death grip on the industry.

. . . Even Romney is saying now that it was really his idea all along!

in my best Fred Sanford voice "Elizabeth, the big ones coming"

[CuteOldGuy]

Yes, we know, FastGoon. Obama, the Worshipful One, Who Is Only To Be Praised lifted his hands and called forth to the auto industry "Arise! Ye who make cars on union timecards, go forth, and multiply by card check, and drive the non-union vermin from your habitation, along with the bondholders, stockholders and creditors, and rely only on Me, the Holy One, from whom you will obtain redemption, and to whom you will never have to repay. Arise, and make Volts, may they spread across the land, even though no one wants them, for I, the Great and Worshipful Holy Obama, have spake it. Amen."

Have I got that right from your side, FastGoon?

Obama Akhbar!

[joe bloe]

All hail the Messiah!

http://www.youtube.com/watch?v=l46t_nrySg4

[Dawgs]

And I will never ever buy a GM or Mopar product again.

[cptjohnstone]

Originally Posted by joe bloe

All hail the Messiah!

http://www.youtube.com/watch?v=l46t_nrySg4

+1

best I have seen, it will be passed on to others

[JD Barleycorn]

I also think someone needs to point out that the first bailout (by Bush) has been completely paid back, didn't turn the company over to the unions that bankrupted it, and did not hurt investors who held the stock. Big difference from what the "one" did.

[theaustinescorts]

Other countries subsidize their auto industries in all sorts of ways. There is no real free enterprise when it comes to that. We might as well create another 25 billion dollars out of thin air and borrow it from the Chinese to prop up our own.

[SEE3772]

http://www.eccie.net/showthread.php?t=519013