Quote:
Originally Posted by bigearl
First let me say I don't want GM to fail, and I think they have what it takes to succeed. I also want the whole process to stay above board and honest. The Government has a whole task force on cars now. We own 61% of GM's stock.
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Fixed.
Quote:
Originally Posted by HDDAN
Yes, I do remember, and you are right about this. IT WAS THE SUB PRIME MESS THAT DODD AND FRANK CREATED THAT CAUSED THIS RECESSION.
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I'd argue the subprime mess was just the culmination of a bigger problem- rock bottom interest rates set by the fed for waaaaayyyy too long, too many people and businesses having access to money they shouldn't have, and wayyyyy to much of it. And you can blame that on Clinton (D) with a Republican majority, Bush (R) with a Republican majority, and Bush (R) with a Democrat majority. Plenty enough blame to cover both main political parties with some to spare.
Quote:
Originally Posted by ssump29
For one it ain't my money, I paid my taxes to the government.
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Our government is supposed to be nothing more than a representation of the people, and not a separate entity or business, so whether it's in the hands of the treasury via the IRS, or in your bank account, it is still your money, your country, your government.
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I think this entire thread is a good example of why we should have the least amount of political or government involvement in private or public companies as possible. As yall can see, it turns into nothing more than a giant pissing match between decent people with no clear cut 'right' answer as to what should have or needs to be done.
Honestly it was pretty shady for GM to handle the bailout money this way, but given the position they've been put and put themselves into, I can't really see any other good way for them to go about it. It's a crap sandwich all around. The best thing anyone could hope for is GM's relatively certain return to profitability, and our govt. making enough back on stock sales once they go public again to cover our complete investment, with interest.
And then just let GM be a car company, by itself.