When Ralph and I agree, (I loved my Corvair...) there's something just not right... When will the general media expose this mess?
Alan Wells
of TN
@
Jun 03, 2009 20:02:29 PM
GM asks for $15 Billion on first day of bankruptcy, part 2
The first comment, from ACE of NC, is astute. Contrary to Matt Bandyk's last line in his article, "Obama wanted to bring less ideological post-partisan politics to Washington," Obama is all about ideology and politics. My opinion is this is about Obama's ideology of "spreading the wealth around," and what he forgot to include was, "to my friends and supporters."
The UAW campaigned hardest for Obama, and he's paying them back with the biggest wealth transfer of all time--$50 billion of taxpayer money has already gone to GM (to pay for union pensions, keep union jobs, etc.), $7 billion to Chrysler in a "loan" from taxpayers (that Obama then decided to "forgive"), another $7 billion to GMAC (that became a bank in the middle of the night on Christmas Eve so that it could receive your taxpayer money), and this doesn't include the beating the "secured" bondholders received at the clenched fist of the Treasury officials that made them take cents on the dollar. And this is likely just the beginning. Someone calculated that so far, taxpayers have given GM $425,000 for every union job there. No ideology, no partisanship?
Then as ACE mentions...GM (remember the UAW is the second biggest shareholder after the government) already wants another $15 billion... This will never end...
Sherlock Holmes
of NH
@
Jun 02, 2009 13:24:43 PM
GM ask for 15 billion on first day of bankruptcy
General Motors Corp.(GM) will ask a bankruptcy judge Monday for permission to tap about half the 30 billion. ARE YOU KIDDING ME?
After the UAW get fully funded, then GM will file for the REAL bankruptcy!
GM is going to blow half the bailout money the first week. NO WAY can this be true. Please tell me we are not going to give them 15 billion before some kind of plan.
ace
of NC
@
Jun 01, 2009 21:02:34 PM
robert reich is pinhead academic for life.
google: bio of robert reich.
this man has been in school from age 5-75.
he has never had real-job in the real-world.
what does he know about business or how a company can make a profit-loss.
corporations to compete and stay alive in the real-world. No tenure. job for life for the pinhead-academics.
Matt Bandyk, a reporter for U.S. News, explores capitalism from where it all begins, with the entrepreneur, whose risk taking and experimentation provide the roots from which the rest of the economy grows. As much courage as it takes to create one's own business, even the entrepreneur needs some help, and this blog will look at news, trends, and practical advice for starting and running a small business.
what is ultram of CO @ Jul 02, 2009 14:42:35 PM
Alan Wells of TN @ Jun 03, 2009 20:02:29 PM
Sherlock Holmes of NH @ Jun 02, 2009 13:24:43 PM
ace of NC @ Jun 01, 2009 21:02:34 PM
charles wilson of TX @ Jun 01, 2009 13:38:56 PM
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