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post #1 of 33 (permalink) Old 06-09-2009, 08:30 AM Thread Starter
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Bush passed on GM bankruptcy

http://www.autoblog.com/2009/06/09/c...-the-next-guy/

Interesting read. Discuss.

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post #2 of 33 (permalink) Old 06-09-2009, 08:49 AM
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Sounds like bush did the right thing to me. He didn't have enough time to carry out a plan, so he left it to the next guy.

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post #3 of 33 (permalink) Old 06-09-2009, 08:56 AM
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Sounds like bush did the right thing to me. He didn't have enough time to carry out a plan, so he left it to the next guy.
Exactly.
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post #4 of 33 (permalink) Old 06-09-2009, 10:08 AM
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they should have let them fail, we know now that China was ready to buy in and take over once they had failed.

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post #5 of 33 (permalink) Old 06-09-2009, 10:21 AM
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History will show what happened, they failed under Obama's administration. It will be one of many and hopefully a spring board to better days when people realize government involvement into everything is a path to failure.

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post #6 of 33 (permalink) Old 06-09-2009, 10:28 AM
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Basically wish Obama would just left it.

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post #7 of 33 (permalink) Old 06-09-2009, 11:37 AM
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I agree that it was a wise decision to leave it for the Obama administration simply because there wasn't time to deal with it.

However I absolutely do not agree with using TARP funds beyond their Congressional mandate. IMO it was illegal.

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post #8 of 33 (permalink) Old 06-09-2009, 12:52 PM
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I actually thought Obama did a good job, he basically cut GM off, no more tarp bail outs. but people seem to be mad at obama because GM filed for bankruptcy. what were they expecting? GM failed and filed for bankruptcy, thats what companies do when they fail.

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post #9 of 33 (permalink) Old 06-09-2009, 01:01 PM
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I actually thought Obama did a good job, he basically cut GM off, no more tarp bail outs. but people seem to be mad at obama because GM filed for bankruptcy. what were they expecting? GM failed and filed for bankruptcy, thats what companies do when they fail.
No one cares about that. They care about the fact that contract law got thrown out the window, and Obama played favorites with his political buddies, The UAW.
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post #10 of 33 (permalink) Old 06-09-2009, 01:04 PM
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people realize government involvement into everything is a path to failure.
lol.... never

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post #11 of 33 (permalink) Old 06-09-2009, 01:31 PM
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Originally Posted by cannonball996 View Post
I actually thought Obama did a good job, he basically cut GM off, no more tarp bail outs. but people seem to be mad at obama because GM filed for bankruptcy. what were they expecting? GM failed and filed for bankruptcy, thats what companies do when they fail.
He threw billions and billions away on GM. He's the worst business man...wait...he's NOT a fucking businessman! He's always worked for the Gubment! Wow! No wonder his bail-out plan is a clusterfuck!

Seriously...pay attention, because the rest of the "stimulus" money is going away just like it did with GM.

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post #12 of 33 (permalink) Old 06-09-2009, 02:13 PM
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History will show what happened, they failed under Obama's administration. It will be one of many and hopefully a spring board to better days when people realize government involvement into everything is a path to failure.
That's not true. What about social security, welfare, the US Post Office, and Amtrak...... oh.... uhhh.... never mind.

Now they've got their grip on AIG, GM, Chrysler and loads of others.

We The People = screwed.
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post #13 of 33 (permalink) Old 06-09-2009, 03:40 PM
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He threw billions and billions away on GM. He's the worst business man...wait...he's NOT a fucking businessman! He's always worked for the Gubment! Wow! No wonder his bail-out plan is a clusterfuck!

Seriously...pay attention, because the rest of the "stimulus" money is going away just like it did with GM.
GM got money through the tarp program that Bush set up last year. dont you remember last year when all us conservatives were yelling at our congressmen that tarp was not fair and then GM should be allowed to fail and and go into bankruptcy. Obama actually made a conservative move by cutting them off.

there were 2 options for GM
1. let them fail and go into bankruptcy
2. give them more bail out money

the same people that were bitching about the tarp money a few months ago are now bitching about letting them fail.

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post #14 of 33 (permalink) Old 06-09-2009, 11:36 PM
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GM got money through the tarp program that Bush set up last year. dont you remember last year when all us conservatives were yelling at our congressmen that tarp was not fair and then GM should be allowed to fail and and go into bankruptcy. Obama actually made a conservative move by cutting them off.
I seem to remember writing some letters. Pretty sure my attitude was to let GM fail and rot. Now they have billions of tax payer dollars that didn't seem to help much and are still in bankruptcy, helping them steal even more money from investors. Next we'll give them more money so they can buy all of their suppliers that failed as a result of GM not paying their bills. Hell maybe we'll even give them enough money to buy Sirius/XM.

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post #15 of 33 (permalink) Old 06-10-2009, 05:58 AM
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Bush did the right thing. I wish he was still the prez...

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post #16 of 33 (permalink) Old 06-10-2009, 09:15 AM
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I seem to remember writing some letters. Pretty sure my attitude was to let GM fail and rot. Now they have billions of tax payer dollars that didn't seem to help much and are still in bankruptcy, helping them steal even more money from investors. Next we'll give them more money so they can buy all of their suppliers that failed as a result of GM not paying their bills. Hell maybe we'll even give them enough money to buy Sirius/XM.
Thats exactly what Obama did he cut them off and let them fail.

its almost as if people didnt realize that when a company fails, and goes into bankruptcy the government takes over because of their debt.

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post #17 of 33 (permalink) Old 06-10-2009, 10:30 AM
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That's not true. What about social security, welfare, the US Post Office, and Amtrak...... oh.... uhhh.... never mind.

Now they've got their grip on AIG, GM, Chrysler and loads of others.

We The People = screwed.
What really scares me is the news papers starting to ask for handouts.

State run media told me wha??

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post #18 of 33 (permalink) Old 06-10-2009, 10:52 AM
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Thats exactly what Obama did he cut them off and let them fail.
Incorrect, sir. What Obama did was stick his nose into the day-to-day operations of private companies. He basically fired the CEO of a major US company (GM). Find one time in the history of our nation when our government has done that.

Obama and his buddies have squandered BILLIONS of OUR money without a mandate from the citizens of this nation.

Obama appointed the members of this automotive task force - these people weren't voted in by the citizens, they were appointed; that means the people have no recourse against Obama's hand-picked auto task force. Now hundreds of new car dealerships throughout the country are being forced out of business when they did nothing wrong and their assets are being given free of charge to the dealership down the street who the government allowed to remain in business. Does that not meet the exact definition of Marxism?

I heard a lady who is losing her job at one of these new car stores that's being forced to close on the news this morning asking "where's the 'hope' I voted for?".

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post #19 of 33 (permalink) Old 06-10-2009, 11:25 AM
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I heard the dealership closures may be in part to a desire to see more minority owned dealerships. Can anyone confirm this?

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post #20 of 33 (permalink) Old 06-10-2009, 11:27 AM
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Incorrect, sir. What Obama did was stick his nose into the day-to-day operations of private companies. He basically fired the CEO of a major US company (GM). Find one time in the history of our nation when our government has done that.

Obama and his buddies have squandered BILLIONS of OUR money without a mandate from the citizens of this nation.

Obama appointed the members of this automotive task force - these people weren't voted in by the citizens, they were appointed; that means the people have no recourse against Obama's hand-picked auto task force. Now hundreds of new car dealerships throughout the country are being forced out of business when they did nothing wrong and their assets are being given free of charge to the dealership down the street who the government allowed to remain in business. Does that not meet the exact definition of Marxism?

I heard a lady who is losing her job at one of these new car stores that's being forced to close on the news this morning asking "where's the 'hope' I voted for?".
what did you think was going to happen when a company like this failed? do you know how corporate bankruptcy works? it actually takes place in court, because the company is in so much debt and in breech of thousands of contracts, the court the seizes all assets, and settles your debts by selling off what ever you have left.

it would work the exact same way under any president, people would still be appointed through the courts.

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post #21 of 33 (permalink) Old 06-10-2009, 11:38 AM
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Thats exactly what Obama did he cut them off and let them fail.

its almost as if people didnt realize that when a company fails, and goes into bankruptcy the government takes over because of their debt.
You really need to start paying attention if you are going to try and participate in discussions about what really happened.

What kind of conservative would actually claim Obama did something conservtaive, EVER?

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post #22 of 33 (permalink) Old 06-10-2009, 12:02 PM
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You really need to start paying attention if you are going to try and participate in discussions about what really happened.

What kind of conservative would actually claim Obama did something conservtaive, EVER?
as a conservative dont you agree that this is much better then just giving them billions in bail outs?

was there a more conservative option?

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post #23 of 33 (permalink) Old 06-10-2009, 02:37 PM
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Yes. Never giving them a dime, not assigning a "Car Czar", not firing the head of a major US company, staying the hell out of private businesses, not coming up with more arbitrary numbers for fuel efficiency
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post #24 of 33 (permalink) Old 06-10-2009, 06:59 PM
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as a conservative dont you agree that this is much better then just giving them billions in bail outs?

was there a more conservative option?
Answer my question, then I will answer yours.

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post #25 of 33 (permalink) Old 06-10-2009, 07:17 PM
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bush didnt do the right thing... he gave them money to stay afloat for 5 months. for what?? a miraculous turn around? fuck no. he should have let them die in dec/january so they could have been forced into bankruptcy court the legal way (without a presidential pardon).

obama didnt do the right thing. IMO, what he did was fucking illegal. aside from the fact that the white house has been controlling GM for the last 4 months and offering government backed warranties, the UAW was given preferential treatment over the 1. bond holders, 2. preferred stock holders, 3. common stock holders.

fuck the UAW, obama, kanye west, and geo bush.
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post #26 of 33 (permalink) Old 06-10-2009, 07:57 PM
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Am I the only person here that believes Dubya was forced into signing that stimulus by Pelosi's Congress gang???

There's also 2 sides to that bailout coin...he gave money to the banks. The banks are now in good shape, instead of on the edge of collapse. What if he told them all to get fucked and they were on their own? GM and Dodge would have imploded into the hands of what? There were no banks to help them. No nothing. Thank God the banks got their shit together.

I will always believe that when the Republicans got that ass whipped in 2006, the Dem's set the stage for what's going down right now. They love this gov't controlled banking/big business/Union gig.

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post #27 of 33 (permalink) Old 06-10-2009, 08:24 PM
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I will always believe that when the Republicans got that ass whipped in 2006, the Dem's set the stage for what's going down right now. They love this gov't controlled banking/big business/Union gig.

Because they are ALL about TOTAL control...


I say fuck them one, fuck them all.
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post #28 of 33 (permalink) Old 06-10-2009, 08:26 PM
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as a conservative dont you agree that this is much better then just giving them billions in bail outs?

was there a more conservative option?

You call yourself a conservative, so what would you offer up?
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post #29 of 33 (permalink) Old 06-11-2009, 09:47 AM
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Yes. Never giving them a dime, not assigning a "Car Czar", not firing the head of a major US company, staying the hell out of private businesses, not coming up with more arbitrary numbers for fuel efficiency
remember Obama cut them off, stopped giving them money. the government didnt do this to GM, they did this to themselves. GM failed on their own, filing for bankruptcy is giving up, you tell the judge "I cant pay my bills any more, I quit, here is my company", the government didnt take over GM, GM was dumped on the government.

it would have made no difference who was running the government at the time, when a company fails and is dumped on the government this is what happens.

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post #30 of 33 (permalink) Old 06-11-2009, 09:56 AM
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Am I the only person here that believes Dubya was forced into signing that stimulus by Pelosi's Congress gang???

There's also 2 sides to that bailout coin...he gave money to the banks. The banks are now in good shape, instead of on the edge of collapse. What if he told them all to get fucked and they were on their own? GM and Dodge would have imploded into the hands of what? There were no banks to help them. No nothing. Thank God the banks got their shit together.

I will always believe that when the Republicans got that ass whipped in 2006, the Dem's set the stage for what's going down right now. They love this gov't controlled banking/big business/Union gig.
I think Bush didnt want the cluster fuck, he knew if these companies were to implode on their own they would file for bankruptcy and become his problem. So he threw some money at them and left it to the next guy figure it out.

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post #31 of 33 (permalink) Old 06-11-2009, 10:01 AM
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Good thing he threw that money at the banks and insurance companies, huh!


I hear the banks figured it out and want to give the aforementioned thrown money back now, but obama will not take it.

Therefore, this administration WANTS the clusterfuck.

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post #32 of 33 (permalink) Old 06-16-2009, 12:54 PM
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as a conservative dont you agree that this is much better then just giving them billions in bail outs?

was there a more conservative option?
A conservative that agrees that loaning GM money was the right thing to do is not a conservative. Plain and simple.

We have laws to in place for this senario, no? You seem to know, so why don't you lay out how filling bankrupcy would place GM in the government's hands if they didn't take TARP funds. Show us where in bankrupcy law that it says the governement would run the company by filling bankrupcy.
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post #33 of 33 (permalink) Old 06-16-2009, 12:59 PM
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remember Obama cut them off, stopped giving them money. the government didnt do this to GM, they did this to themselves. GM failed on their own, filing for bankruptcy is giving up, you tell the judge "I cant pay my bills any more, I quit, here is my company", the government didnt take over GM, GM was dumped on the government.

it would have made no difference who was running the government at the time, when a company fails and is dumped on the government this is what happens.
The government had plenty to do with GM going belly up. Let me be the first to say that they DID take over GM, and it WASN'T dumped on the government. This administration wanted it.
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