Critics Wrong-GM Worth $50 Billion & Profitable With Bailout

Glenn Beck with his blackboard, The White House with their White Board
CaveBearsays...

I thought GM would pull out of it so I hung on to my GM stock. Then they went bankrupt and my stock was worthless. Then they offered new stock and made Wall Street guys richer. My stock is still worthless. It's all a Wall Street game of Greed and *Lies.

I will never buy any GM product again.

GeeSussFreeKsays...

>> ^CaveBear:

I thought GM would pull out of it so I hung on to my GM stock. Then they went bankrupt and my stock was worthless. Then they offered new stock and made Wall Street guys richer. My stock is still worthless. It's all a Wall Street game of Greed and Lies.
I will never buy any GM product again.


Exactly. In addition, instead of their assets going to someone else who has been doing well, like ford, GM gets the ride free and clear...and the while leaving out all the financial responsibility they owed their previous stock holders. It isn't like all those people would be out of a job anyway, other firms would want to buy up those assets and put them to work, Saturn was on that track till the deal feel through and the government bailed out GM proper. Now, Saturn sits in liability limbo because of the bail out...more toxic waste.

Myslingsays...

I guess it's nice that GM is expanding, making new vehicles and providing jobs. But I found the bar graph to be really puzzleing.

If I understand correctly GM was worth close to nothing, the government invested 49 billion, and suddenly its big news that the market believes GM is worth 50 billion? I like the good news, but please, White House, a bit less drama and spin next time.

Enzobluesays...

I don't forgive GM for their commercials last year where they gallantly announced that they had paid back their bailout money. Not bothering to tell us that they used the money from the second bailout to pay the first and that nothing had changed. It's all a scam.

quantumushroomsays...

I can only say this to GM: Fuck you.

You ran a failed business model and should've went bankrupt without a failout.

"The government committed nearly $50 billion to GM (and received a 61 percent ownership stake for U.S. taxpayers); $14 billion to Chrysler (a 10 percent ownership stake), $17 billion to GMAC (the car and home loan arm of GM), and $5 billion to auto parts suppliers. Last month, the Federal Reserve estimated taxpayers would recoup all but $17 billion of that $86 billion."

Gee, we only lost 17 billion? What a bargain!

If any of this is too complicated, all you need to remember is a tax cheat runs the US Treasury.

Send this Article to a Friend



Separate multiple emails with a comma (,); limit 5 recipients






Your email has been sent successfully!

Manage this Video in Your Playlists




notify when someone comments
X

This website uses cookies.

This website uses cookies to improve user experience. By using this website you consent to all cookies in accordance with our Privacy Policy.

I agree
  
Learn More