GM.... after all the Money WE gave them or should I say thru away
- Thread starter redlineguy
- Start date
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Ollie
ACCOUNT CLOSED
And when you file bankrupcy, debts get forgiven.
Ya think they will keep the government loan?
Of cource not.
You can kiss those billions goodbye.
Ruffy,
as for AIG, it still would be cheaper to just pay off the bad debt and be done with it. So AIG insures banks, so what.
We have spent 700 billions bailing out the banks.
How much would it have cost to simply pay off the insured accounts and let the bad banks fail??
I still think it would have been cheaper than 700 billion.
As has been stated, we need to re-align this country.
Get it back to the basics of hard work and dedication and away from hand outs and bail outs.
We need to stop rewarding bad behavior.
B
B C
Well-known member
If, if, if... If GM goes under, this country's going to have plenty to worry about. If they go under, I'll quit calling them loans.
Does anyone realize it will take $20-30 Billion more than GM is asking for now, to get into Chapter 7. Which they would have to borrow from the govt. If it ended up in Chapter 11, you are looking at almost $100 Billion more than they are asking for now. Which, guess what; would come from the govt. And like Ruffy said, if they file bankruptcy; they will not overcome the huge sales drop. IMO.
Does anyone realize that GM has to borrow this money from the govt? Even if our banking industry was solid (obviously it is not), there is no private sector financial institution that can handle this size of loan. The U.S. Treasury is the only one that can handle it.
If they file bankruptcy, there is also GM's $90 billion pension fund they could slide on. But don't worry, it's insured by the Pension Benefit Guaranty Corp. Which btw, is backed by the federal govt.
I'm not trying to argue w/ anyone. I'm just saying there's a little more to it than the average Joe filing bankruptcy and getting out of debt. And the repercussions on this country, are more than I think any of you realize.
Does anyone realize it will take $20-30 Billion more than GM is asking for now, to get into Chapter 7. Which they would have to borrow from the govt. If it ended up in Chapter 11, you are looking at almost $100 Billion more than they are asking for now. Which, guess what; would come from the govt. And like Ruffy said, if they file bankruptcy; they will not overcome the huge sales drop. IMO.
Does anyone realize that GM has to borrow this money from the govt? Even if our banking industry was solid (obviously it is not), there is no private sector financial institution that can handle this size of loan. The U.S. Treasury is the only one that can handle it.
If they file bankruptcy, there is also GM's $90 billion pension fund they could slide on. But don't worry, it's insured by the Pension Benefit Guaranty Corp. Which btw, is backed by the federal govt.
I'm not trying to argue w/ anyone. I'm just saying there's a little more to it than the average Joe filing bankruptcy and getting out of debt. And the repercussions on this country, are more than I think any of you realize.
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Grizzly Adams
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The problem the GOV is having with letting them go under is they want to save the UAW
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Ding Ding Ding we have a winner! Anyone know how much nepotistic union money was spent to elect BO? Why keep rewarding sketchy business practices? The North American auto industry has a huge problem, the Japanese have figured out how to build a longer lasting, better performing vehicle with 20% of the labor. That being said until 2 years ago my driveway had nothin but cheby's now I Go Ford it. Also I think the wifes dodge is gonna go, buying a crown vic for her. Let them fail, the only solution is to let the mismanaged fail so the survivors can flourish! Prolly those crappy Jap diesels in the Dmax that is the cause right?
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Ollie
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Everyone talks about democracy and capitalism but no one wants to let it work.
Oh we have to bail them outor the consequences will be dire.
Dire? Really?
Like what?
If the government wasn't bailing them out they would fail.
All the insured accounts would come due and the government would be on the hook for it (i.e., we would be). However, it would be a ONE TIME payment. It wouldn't be the non-stop more please non-sence you see going on now.
All the government had to do to secure the banks and put the economy back on track was to buy up all the castic loans the FORCED the banks to loan in the first place.
Instead the DNC announces they have a "golden opportunety" to forward their own radical agenda, and boy are they ever pushing it.
The markets are going down because they are pushing their agenda and not doing anything about the caustic loans that crashed the whole mess in the first place.
Obama can't seem to figure out how to pick any political appointees that can pay their taxes and arn't under investigation. If he had a cabinet in place that was competent they would have taken care of this mess already. Instead we have no treasury department leaders in place to deal with this mess. They have been sidelined by the radicals in the senate/house/whitehouse while they push their socialist agenda.
If Obama had come in and simply bought up the caustic loans the markets would have stabilized by now, but then again, he wouldn't be able to push his agenda and THAT is what this mess is all about.
Oh we have to bail them outor the consequences will be dire.
Dire? Really?
Like what?
If the government wasn't bailing them out they would fail.
All the insured accounts would come due and the government would be on the hook for it (i.e., we would be). However, it would be a ONE TIME payment. It wouldn't be the non-stop more please non-sence you see going on now.
All the government had to do to secure the banks and put the economy back on track was to buy up all the castic loans the FORCED the banks to loan in the first place.
Instead the DNC announces they have a "golden opportunety" to forward their own radical agenda, and boy are they ever pushing it.
The markets are going down because they are pushing their agenda and not doing anything about the caustic loans that crashed the whole mess in the first place.
Obama can't seem to figure out how to pick any political appointees that can pay their taxes and arn't under investigation. If he had a cabinet in place that was competent they would have taken care of this mess already. Instead we have no treasury department leaders in place to deal with this mess. They have been sidelined by the radicals in the senate/house/whitehouse while they push their socialist agenda.
If Obama had come in and simply bought up the caustic loans the markets would have stabilized by now, but then again, he wouldn't be able to push his agenda and THAT is what this mess is all about.
According to all the news broadcast that I have heard lately about them...... the worlds economy would!
So does that mean we are bailing out other countries directly or indirectly? Was that what you were eluding to? What’s your take on AIG's situation?
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Grizzly Adams
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Funny but way too true!
