Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company.  It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $24.79/share today.  This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

http://www.forbes.com/sites/louiswoodhill/2012/08/15/general-motors-is-headed-for-bankruptcy-again


Treasury has so far recouped about half of what was extended in grants and loans to GM and Chrysler, related retail financing arms and suppliers. Some of the money was repaid in cash, while the remaining interest was tied up in equity shares held by the government.

http://www.huffingtonpost.com/2012/08/13/us-auto-bailout-treasury_n_1773811.html


I guess the thing that bugs me most about the auto-bailout is no one ever bothered to ask why was it needed to begin with?
Not why did we have to do it, because it would likely have caused a domino effect that would have been horrible, but rather WHAT PRACTICES and FACTORS led to the demise of GM?

Well let's look at at least one reason:

UNITED AUTO WORKERS UNION
In 2006 alone, unions forced the auto makers to spend $750 + million on workers that sat in a room for 8 hours a day and did nothing just so they wouldn't lose their jobs?

You think maybe that was bad fiscal policy? You think any "normal" business would do that to the extent that the cost reached into the hundreds of millions?

Why, if the US taxpayer is a minority shareholder (over 1/4), do we not curb the ridiculousness of the UAW?

As Senator Richard Shelby stated back during the bailout debate "The financial straits that the Big Three find themselves is not the product of our current economic downturn, but instead is the legacy of the uncompetitive structure of its manufacturing and labor force." He added: "I do not support the use of U.S. taxpayer dollars to reward the mismanagement of Detroit-based auto manufacturers in such a way that allows them to continue and compound their ongoing mistakes."

Where is the error in that sentiment?
Why should we continue to allow the UAW practices to be so irresponsible that we, the US taxpayer, has to rescue them from their own stupidity?

Wasn't it Bush that bailed out the auto companies? Your point remains, but it really isn't Obama's fault.

Well it was Cresten echoing the talking points of the left.

Nowhere did I assign blame.

Yet despite the fact that it WAS indeed Bush who began the bailout process you can bet we will hear Obama brag about how HE saved the auto companies tonight won't we?

He takes credit for stuff W did when it is perceived as a victory, yet hides behind and blames Bush for anything that is/was bad...

I think we might hear Mitt take credit for it too.  talkingpointsmemo.com/archives/2012/09/mitt_obamas_auto_bailout_was_my_idea.php

And then pledge to get rid of RomneyCa- I mean- Obamacare.

The left talks about the debate like there is nothing wrong with Obama's administration. That it was just him performing bad.

Fact is Obama cannot bring up anything that might stir up questions about his record. He can say mild statements about how things could be better and are headed in the right direction, but he cannot go toe to toe with Romney because there is nothing there. He either gets mean and turns off the moderates, goes "Biden Crazy" and turns off everyone or stands there and takes it and hopes he can coast to a win.

Obama is the Yankees. He reminds me of Steainbrenner. His way or the highway.

Romney is a Tiger kind of guy.

Simple, folksy and down to earth!

And just because he didnt have a second disaster didnt mean he won.

Romney stood tall.

Obama was evasive and non-commital.

Romney still represents the solution to the problem.

Posted by swamphawk22 on 10/17/2012 1:51:00 AM (view original):
Obama is the Yankees. He reminds me of Steainbrenner. His way or the highway.

Romney is a Tiger kind of guy.

Simple, folksy and down to earth!

What total BS Swamp....Romney, a Tiger's guy...lmao. Now I am sure that Romney has many friends who own sporting teams...but no way do I use "...kind of guy" to describe Romney....unless it's like " a cut in line in front of the children and be done eating before the family even all sits down "kind of guy."

How is he folksy....he can't even identify an effin' donut for Pete's sake!  Where did these cookies come from 7-11?  Yeah folksy....

Amazing that they couldnt admit the first massacre, but now that he didnt do it again he won?

Polls clearly show that it was a draw.

I saw a small win, and I am sure an Obama partisan saw a minor win for him. Most Americans saw a draw.

So Romney is still ahead in the national polls. He is approaching 50% in Rasmussen.

The last Debate is big time. Obama is in a must win. Romney cannot lose but another draw like this and he wins.

And I hope the moderator doesnt cheat for Obama again!