Can someone tell me how this works...

Discussion in 'General Discussion' started by momo, Mar 31, 2009.

  1. momo

    momo Former Guest

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    ...ok, the government gives billions of dollars to GM and Chrysler and now Obozo and company reject their plans for more money and say bankruptcy is now the best option! Huh??? Why didn't they think of this before they gave them the taxpayer money? Now the taxpayer, you and me, are stuck with the bill. Talk about a waste! Do any of these fools have a frigging brain?
     
  2. Terry_P

    Terry_P New Member

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    BO is probably going to want a preferred position on the assets although it will be a CH 11 to throw the UAW contract under the bus, retiree healthcare, and who knows maybe the pensions themselves.

    If they do go then you'll see a bunch of filings from suppliers and others they owe big buck to. It will be curious to see what happens with the bondholders and others. It has the makings of a real cat fight.
     

  3. RunningOnMT

    RunningOnMT New Member

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    Ok now here's where you're wrong. You mistakenly expected an act by obama and congress to make sense. You should know better. Seriously I've wondered the same thing. Kind of like trying to fix an old junk car with a new coat of paint. Except this is pretty expensive paint.
     
  4. durk

    durk Active Member

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    NO!
     
  5. USMC-03

    USMC-03 New Member

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    It makes perfect sense from the point of the people who are both the ones that created the problem and trying to "solve" it in order to cover their tracks and the ultimate goal is amassing as much power within a centralized government as possible...
     
  6. bcj1755

    bcj1755 New Member

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    It does make sense, they're trying to establish gov't control over the private sector all for the higher purpose of destroying our capitalist system.:mad::mad::mad::mad::mad::mad::mad: Chairman Obama wants to bring about his (or rather his puppetmasters') dream of socialism, Comrade.:mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:
     
  7. Mr. Nameless

    Mr. Nameless New Member

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    Hey, it doesnt work, but Obozo thinks that since we are not in congress, we dont have an opinion. But if he wants an opiion from sone one that accualy takes time to think about it he should come to this forum right here. We have better politicians than the government it self, and they went to school for it.
     
  8. muddober

    muddober Active Member

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    They did think of it. Think about it for a minute. If they wouldn't have given the money to GM and Chrysler they would not have been able to pay all of the union benefits that were owed. Each one of those receiving benefits vote. Buying votes with tax dollars is exactly what they were thinking. Chapter 11 would have most likely caused a far different distribution of assets before the loan making the UAW unsecured creditors that in my view is exactly where they need to be. Now that the money has been paid they will have to wait at least 90 days before they can file a Chapter 11 to escape the 90 day rule of preferential treatment of a creditor, meaning if they file prior to the 90 days anyone receiving the money would have to give it back so the court can make distributions. You could have bet your life that we would not have seen a Chapter 11 filing until the 90 days has lapsed which is about now.
     
  9. Haligan

    Haligan Well-Known Member

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    +1
    Or worse, a global government.
     
  10. ponycar17

    ponycar17 Active Member

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    Ding ding... We have a winner! These economic flunkies want to make it appear as if economics has failed. In reality, they ignored economic cues of failure and are expecting socialist ideals to light the way into the future. I have real doubts, especially in this G20 summit whether we will emerge a nation with a proper appendage set. :(
     
    Last edited: Apr 1, 2009
  11. 1shot1k

    1shot1k Former Guest

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    Another thang...not being heard a lot either....was reminded about it today on radio....you know or remember....previously...Chrysler was purchased by a former corporation...and yes US jobs at stake
    big time...but our tax money is going to shore up a PRIVATE corp....owned by FOREIGN owners...



     
  12. RunningOnMT

    RunningOnMT New Member

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    And before daimler bought out Chrysler hadn't we already bailed them out once?
     
  13. 44-40 Willy

    44-40 Willy New Member

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    The government gave Chrysler a loan back in the 80s that was paid back in short order when Lee Iacocca was running the company.

    Daimler Benz sold out their interest in Chrysler a year or two back to a investment company called Cerebus. The same Cerebus that now owns Remington and Marlin firearms.
     
  14. glocknut

    glocknut Active Member

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    Yes, but they are on par with those who voted for them.... :rolleyes:

    mike
    gn
     
  15. RunningOnMT

    RunningOnMT New Member

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    LOL Every time you post I start swatting my monitor. :D:D:D
     
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