U.S. government says it lost $11.2 billion on GM bailout

[koalabear]

The U.S. government lost $11.2 billion on its bailout of General Motors Co , more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20140430&id=17572996

Where's MercMORON and the other fools that said GM repaid the loans.

 

[Adre]

Isn't that about the amount we wasted per month for 12 years in Iraq?

 

[garbage can]

The U.S. government lost $11.2 billion on its bailout of General Motors Co , more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.

http://money.msn.com/business-news/article.aspx?feed=OBR&date=20140430&id=17572996

Where's MercMORON and the other fools that said GM repaid the loans.

But,but I thought we were told that GM paid back every penny, with interest.

 

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[Adre]

Remember in the old Economic thread how many times Merc told me I was full of shit when I said the taxpayer would take a bath on the GM deal?

You call that a bath? Fucking chump change, petunia.

 

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[cjh]

Spoken like a spendthrift liberal weasel.

What would have been the cost had both companies failed?

 

[garbage can]

What would have been the cost had both companies failed?

They would have been replaced, just like TWA and Pan Am.

 

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[miles]

The Regime's business knowledge is on par with its foreign policy.

 

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[miles]

I see the Senate just crapped on Obama's Minimum Wage bill.

After today's press briefing Obama is up to his neck in crap.

 

[Adre]

Spoken like a spendthrift liberal weasel.

I realize you'd rather spend it on foreign adventures, spendthrift right wingnut.

 

[Adre]

I see the Senate just crapped on Obama's Minimum Wage bill.

Looks like your beloved Pubs fell into a trap.

 

[cjh]

Newer more efficient enterprises would have risen from those ashes with a clearer more sustainable business plan based on the previous failure.

I see.

So there would have been no massive layoffs, no tumbling of small businesses that supplied the auto manufactures, and no worsening of the recession.

 

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[Adre]

What a bunch of crap.

Look beyond the obvious once in a while.

 

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[Adre]

Tell me how this big trap will be sprung and to what effect, Mr. Obvious.

Okay, who now gets blamed for voting against raising the minimum wage. The Senate GOP. Reid knew it would lose in the House anyway. I know this is complicated, but...

 

[cjh]

Possibly, but like all enterprises that fail, better ones replace those to satisfy the demand. Obama's only interest was to solidify the ill gotten gains of his union constiuency, not the overall health of the industry in general.

Given the fact our economy was going to hell in a hand basket at that precise time, I think more was at stake than whether cars could be built more cheaply in Alabama.

 

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[koalabear]

What would have been the cost had both companies failed?

Shut up pereg, they used the money for 5 new GM plants in China.

 

[bra_man69]

Shut up pereg, they used the money for 5 new GM plants in China.

That's just future investment for the new owners the Chinese.