"His color, to you, made him a socialist" Perhaps the stupidest thing you've ever posted.
June 2009 is when GM filed for bankruptcy. BHO was sworn in in January 2009.
2020...
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June 2009 is when GM filed for bankruptcy. BHO was sworn in in January 2009.
Not at all and you all have proven here that his color made him a socialist. They did the same exact thing with MLK."His color, to you, made him a socialist" Perhaps the stupidest thing you've ever posted.
June 2009 is when GM filed for bankruptcy. BHO was sworn in in January 2009.
The truth hurts, always, for you.
On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."
Bruddah IZ
DA
You know how lame ducks have the power to start QE.
Bruddah IZ
DA
Who is John Galt?
Hüsker Dü
DA
He, like always, has his own set of, "alternative facts" provided to him by the media outlets (sic) that he choses to believe 100% without research or thinking.
Bruddah IZ
DA
QE knows no color. Unless your racist view is that a black president needed to have nearly 7 years of his two terms subsidized by the tax payer.
Different conversation.
If you called him a radical leftist, you meant black.
I don’t think you did.
He was certainly far from a radical leftist.
Bruddah IZ
DA
Like the current field of 2020 hopefuls
Yeah, Biden and Mayor Pete are real radical leftists...you idiot.
Hüsker Dü
DA
They just roll with what they are told . . . none of these nutters can distinguish one set of policies from another.
Hüsker Dü
DA
You have always stuck to the talking points you were given even years after they were shown to be BS. You are loyal, to a fault."His color, to you, made him a socialist" Perhaps the stupidest thing you've ever posted.
June 2009 is when GM filed for bankruptcy. BHO was sworn in in January 2009.
And then he denies it, and gets belligerent when people point out his hypocrisy.
The color issue is proven only in a fucked mind like yours or the mind of a simpleton.
Yes Bush working with the Obama transition team approved the bailout, then when Obama awarded the money he stipulated certain things like firing the CEO & the now discontinued Chevy Volt...
Obama took over GM and saved the UAW. Which was a large part of GM's problem and a huge contributor to the Obama campaign.
from US News & World Report:
For Obama, the bailout of GM was an opportunity to suggest that government intervention in the private economy, if it's done right, can be a good thing and to present himself as a chief executive who cared, in contrast to the messaging flowing out of his campaign about his GOP opponent, former Massachusetts Gov. Mitt Romney.
But it turns out the American people may have been sold a bill of goods, that the so-called bailout of Chrysler and GM was more about saving the once all-powerful United Auto Workers' union than it was about bringing the companies back to profitability. It's a story that ranges from the slime to the ridiculous that should, as several recent news accounts suggest, be looked at more closely.
One is a story that ran in the October 14 edition of USA Today that said GM had "boosted prices of its redesigned 2014 full-size pickups $1,500 – enough to pay for a $1,500 rebate currently offered on most models." The scheme is so bizarre on its face that it sounds like it could only have sprung from the mind of one of the automakers' Washington overlords during the period immediately following the bailout.
from AP-CNBC
President Obama asserted unprecedented government control over the auto industry Monday, rejecting turnaround plans from General Motors and Chrysler and raising the prospect of controlled bankruptcy for either ailing auto giant.
In an extraordinary move, the administration forced the departure of Rick Wagoner as CEO of General Motors over the weekend, and implicit in Obama's remarks was that the government holds the ability to pull the plug on that company or Chrysler.
The Bush administration late last year approved $17 billion in federal funds to help GM and Chrysler survive. It also demanded both companies submit restructuring plans that the Obama administration would review.
Even as he pronounced their effort unsatisfactory, the president said the administration will offer General Motors "adequate working capital" over the next 60 days to produce a reorganization plan acceptable to the administration.
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Feb 6, 2012, 02:16pm
American Airlines Shows The Corruption Of Obama's GM Bailout
The American Airlines bankruptcy reveals the scope of President Obama’s political payback to the UAW. Unlike General Motors and Chrysler, American Airlines is undergoing a “normal” Chapter 11 bankruptcy according to the rule of established law. The GM (and Chrysler) bankruptcies of 2009 were directed by a White House task force that upended regular bankruptcy procedures. The White House objective was not to create a competitive new GM, but to get the best deal possible for the UAW and make GM a de facto “Government Motors.”
It’s not that the airline unions failed to deliver for Obama and the Democrats in 2008. The Airline Pilots Association contributed three quarters of a million dollars – small change compared to the UAW’s more than four million to Obama and the Democratic Party. Apparently you have to pony up big to get a deal from Obama.
The White House Auto Task Force and its Czar spared UAW the dismay and outrage of renegotiated union pay scales, revised work rules, and loss of defined-benefit pensions that American Airlines union members face. American’s anticipated fifteen percent job loss is about the same as GM’s, but without a dime of taxpayer money. Obama did not save GM jobs, he saved UAW pay scales and pensions. UAW members left their jobs with a $25,000 new car and $20,000 cash. (Chrysler employees left with much more). Laid-off American Airlines pilots, mechanics and flight attendants will likely leave with little or nothing.
I can imagine the UAW’s unspoken message for the White House in June of 2009: “Mr. President, in a normal bankruptcy, we might end up with the same wages as those scabs at Toyota and Volkswagen in the South. The court might order cuts in our pensions. We gave you our money, and you protect us. You can claim you are doing it for the middle class. That story might sell.”
The UAW pension fund received 17.5 percent of the new GM. Shareholders were wiped out. Contrary to established law, the Treasury allowed the new GM to carry forward $50 billion of losses, at an eventual taxpayer cost of around $15 billion.
The courts had little choice but to approve the Treasury’s prepackaged reorganization plan. After all, all the parties had signed off, whether under duress or not. The bankruptcy court must have marveled at the sweetheart deal for GM.
https://www.forbes.com/sites/paulro...corruption-of-obamas-gm-bailout/#408f13fb5eb8
American Airlines Shows The Corruption Of Obama's GM Bailout
The American Airlines bankruptcy reveals the scope of President Obama’s political payback to the UAW. Unlike General Motors and Chrysler, American Airlines is undergoing a “normal” Chapter 11 bankruptcy according to the rule of established law. The GM (and Chrysler) bankruptcies of 2009 were directed by a White House task force that upended regular bankruptcy procedures. The White House objective was not to create a competitive new GM, but to get the best deal possible for the UAW and make GM a de facto “Government Motors.”
It’s not that the airline unions failed to deliver for Obama and the Democrats in 2008. The Airline Pilots Association contributed three quarters of a million dollars – small change compared to the UAW’s more than four million to Obama and the Democratic Party. Apparently you have to pony up big to get a deal from Obama.
The White House Auto Task Force and its Czar spared UAW the dismay and outrage of renegotiated union pay scales, revised work rules, and loss of defined-benefit pensions that American Airlines union members face. American’s anticipated fifteen percent job loss is about the same as GM’s, but without a dime of taxpayer money. Obama did not save GM jobs, he saved UAW pay scales and pensions. UAW members left their jobs with a $25,000 new car and $20,000 cash. (Chrysler employees left with much more). Laid-off American Airlines pilots, mechanics and flight attendants will likely leave with little or nothing.
I can imagine the UAW’s unspoken message for the White House in June of 2009: “Mr. President, in a normal bankruptcy, we might end up with the same wages as those scabs at Toyota and Volkswagen in the South. The court might order cuts in our pensions. We gave you our money, and you protect us. You can claim you are doing it for the middle class. That story might sell.”
The UAW pension fund received 17.5 percent of the new GM. Shareholders were wiped out. Contrary to established law, the Treasury allowed the new GM to carry forward $50 billion of losses, at an eventual taxpayer cost of around $15 billion.
The courts had little choice but to approve the Treasury’s prepackaged reorganization plan. After all, all the parties had signed off, whether under duress or not. The bankruptcy court must have marveled at the sweetheart deal for GM.
https://www.forbes.com/sites/paulro...corruption-of-obamas-gm-bailout/#408f13fb5eb8
So in your mind saving one of the largest capitalist institutions on Earth, eventually returning it to a healthy business position owned by private stockholders, makes him a socialist? Please explain.
Bruddah IZ
DA
What makes them not radical leftist?
Bruddah IZ
DA
If we rolled with what we were told, you and I would never disagree.
Bruddah IZ
DA
Still wearing the Mueller T-bag I see.
Bruddah IZ
DA
What’s capitalist about a company that needs saving by other than bankruptcy filing?