Loc: Alexandria, VA
Need to register to your link -- but point taken. Although there's still a ways to go before recouping all of the bailout, still a good start. Can't help but notice how well the company has done since that Socialist Kenyan Obama took charge ;-)
I just got to watch the Daily Show from Monday night. JS had a hilarious bit about how Reps. now want Obama to be as accommodating and friendly as Clinton was, and if he is, then they'll collaborate with him as they did with Clinton. He then ran a couple of minutes of clips from the good old Clinton days. Same crap. Clinton is a socialist. Clinton is a spendthrift. Clinton is unAmerican. Clinton is . . . . And he didn't even get to clips of the devil with the blue dress.
_________________________ MACTECHubi dolor ibi digitus
Yep its a good thing. We still own 33% but stocks going up .
Biggest IPO in history. 1.4M jobs saved/created. A century-old legacy of American manufacturing is saved. This was a very good thing. Ford Motors says it would have tanked also in the wake of GM failing.
No wonder the GOP hates it. McConnell still calls it a failure. Rush Limbaugh is still advocating a boycot of GM cars. By tomorrow Michelle Bachman and Glenn Beck will claim GM is owned by George Soros and it is a communist organization.
Loc: Sunnyvale, CA, USA
Well, aside from my opinions about the bailouts, the idea of "profitable" bailouts will be an overused and mal-applied one in the future, applied to quasi or phantom panics with no opportunity for more normal dynamics to resolve, whatever. It will be economic FUBAR.
If you profit on a bailout, creating the illusion that you averted a meltdown, you may have also created a future of a lot of questionable bailouts, many of which will be unprofitable. This is politics afterall.
Some bailouts might be necessary, but they should all be very costly. They should be painful, especially for politicians. They should be used wisely.
Finance was a cancer. It should have been destroyed and rebuilt anew. Now it is a resusitated zombie, zombifying more than ever. Ford had its troubles, but at least remained a true transportation company, and that's what's going to keep them going forward - It was like a Google that screwed up. GM may have been like a Yahoo, and, if so ( of course, my opinion only ), they would have another opportunity to screw up again ( much like Yahoo would have done after the honeymoon behavior if a white knight would have come through ).
Come on now, the braindead nutcases insist stuff is overmanaged - Well, the braindead simple proof that isn't so is, "Where's the beef?" Where were the soft starts and the soft/cushioned bottoms? Instead we get hard crash, and the paramedics can't make the patient twitch much less jumpstart him.
But when "profitable" bailouts become the norm, the soft starts will be marshmallow starts and the cushioned bottoms will swallow you up and smother you to death.
Federal investment in American manufacturing is a political risk, this time it worked, but the fallout is an emboldened Teaparty.
Bush's bailout of AIG was a clusterf*ck, Obama's bailout of GM was a success. The difference was how the Federal government intervened. Does anyone yet know exactly where the money went in the AIG bailout?
The difference is more fundamental than "how" the government intervened. The difference is ~ GM actually produces something. AIG doesn't. Plus AIG had an unnatural relationship with people high up. Timmy G. comes to mind. AIG's was a sweetheart deal made on our fn' backs.
It's not fair to say Bush screwed up and Obama didn't. Actually, neither one of them had much to do with the actual nuts and bots of the bailouts. Which is fitting, as Presidents aren't supposed to micro manage. They've got underlings to handle the details. Like Timmy G.
_________________________ I always deserve it. Really.
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