U.S. plans to exit GM stake by year-end, may lose $10 billion

[koalabear]

The U.S. Treasury Department said it expected to sell its remaining shares of General Motors Co by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker's 2009 bailout.

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20131121&id=17132955

 

[Adre]

The U.S. Treasury Department said it expected to sell its remaining shares of General Motors Co by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker's 2009 bailout.

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20131121&id=17132955

Well, that's a better deal than the war in Afghanistan has been.

 

[unregistered]

 

[contrifan32]

Well, that's a better deal than the war in Afghanistan has been.

good comparison

 

[Adre]

good comparison

Tell me why it's not, in terms of valid investments.

 

[unregistered]

 

[JohnnySavage]

Tell me why it's not, in terms of valid investments.

Call me a silly patriot, but I firmly believe that if the government's going to spend the tax payer's money, they should spend it here to keep an American company up and running, rather than spending it to repair the road and sewer pipes (that we blew up) in some third-world nation 12,000 miles away.

I realize that some on lit don't believe in America though.

 

[BotanyBoy]

Tell me why it's not, in terms of valid investments.

It is....but that doesn't excuse what a horribly bad idea some of those "bailouts" were....like it or not some of those companies should have been allowed to just bite it. BOA/JP Morgan/GM/AIG should have been at the top of that list.

 

[jeninflorida]

More or proof that those in government are stupid

 

[BotanyBoy]

Obama as a whole has been much worse, after wrecking the U.S. economy and it's health care industry, he's busy destabilizing the entire Middle East with his May I Kiss Your Ass And You Can Have A Nuke Policy with Iran.

Get real...the economy was wrecked by 43 and the health care industry SUCKED, not that O made it much better but at least he tried.

 

[BotanyBoy]

Call me a silly patriot, but I firmly believe that if the government's going to spend the tax payer's money, they should spend it here to keep an American company up and running, rather than spending it to repair the road and sewer pipes (that we blew up) in some third-world nation 12,000 miles away.

I realize that some on lit don't believe in America though.

Why should we spend money on a failed company??

I'm all with you on "fuck the 3rd world shit hole" bit but I can't hop on board with "Invest in this SUCK!!!" as a good idea....ever.

 

[JohnnySavage]

Why should we spend money on a failed company??

I'm all with you on "fuck the 3rd world shit hole" bit but I can't hop on board with "Invest in this SUCK!!!" as a good idea....ever.

Uncle Sugar is going to spend the money. There's no doubt about that. Accepting that the money is going to be spent, spend it here.

On CNBC just now; $385 billion need just to maintain America's drinking water supply.

 

[Adre]

It is....but that doesn't excuse what a horribly bad idea some of those "bailouts" were....like it or not some of those companies should have been allowed to just bite it. BOA/JP Morgan/GM/AIG should have been at the top of that list.

Granted, but those bad ideas did not lose hundred of American lives, and instead preserved hundred of thousands of pretty good jobs. To put it another way, I'd rather see our government intervene to build companies rather than nations.

 

[koalabear]

Granted, but those bad ideas did not lose hundred of American lives, and instead preserved hundred of thousands of pretty good jobs. To put it another way, I'd rather see our government intervene to build companies rather than nations.

In China. It allowed GM to build more plants there while closing plants here.

 

[JohnnySavage]

In China. It allowed GM to build more plants there while closing plants here.

And the $675 billion we've spent in Afghanistan has created a lot of jobs there.

 

[Adre]

In China. It allowed GM to build more plants there while closing plants here.

GM employs around 80,000 Americans. They pay taxes here, not China.

 

[Killswitch]

Obama as a whole has been much worse, after wrecking the U.S. economy and it's health care industry, he's busy destabilizing the entire Middle East with his May I Kiss Your Ass And You Can Have A Nuke Policy with Iran.

Sorry you don't have any stock. I've made a ton of money in the last four years in the markets. And no one got killed.

 

[koalabear]

GM employs around 80,000 Americans. They pay taxes here, not China.

Only 80,000, means the billions were wasted more than I thought.

 

[koalabear]

Sorry you don't have any stock. I've made a ton of money in the last four years in the markets. And no one got killed.

Obviously not with GM stock.

 

[Killswitch]

Obviously not with GM stock.

No but I bought a 70,000 dollar Chevy in 2012.

What have you done to "help"

 

[koalabear]

No but I bought a 70,000 dollar Chevy in 2012.

What have you done to "help"

I buy a new Honda every year.

 

[Killswitch]

I buy a new Honda every year.

Why do you hate America so much?

 

[koalabear]

Why do you hate America so much?

Honda cars have a larger % of USA parts than GM.

 

[Adre]

Only 80,000, means the billions were wasted more than I thought.

Do the math factoring in unemployment benefits, retraining, importation of many more autos, then get back to me on the waste issue.

 

[koalabear]

Do the math factoring in unemployment benefits, retraining, importation of many more autos, then get back to me on the waste issue.

How much did it cost to retrain the Chinese?