Redistribution of Wealth
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Punisher

Jonesboro, AR

#96 Mar 1, 2013
guest wrote:
<quoted text>Signing the gun owners protection act was just one of President Reagans many great hitorical measures.
He should not have signed it with the Huges amendment intact. He should have vetoed it and let it pass through without that garbage.
Guest

Mayflower, AR

#97 Mar 1, 2013
Punisher wrote:
<quoted text>
1. We did not get our money back, they used TARP funds and shifted it around.
2. I do not advocate government meddling in any business, be it Wall Street, GM, or Chrysler. Giving money to Chrysler was Reagan's second biggest presidential blunder behind signing the firearms owners protection act.
If GM had gone "tits up" they would have gotten bankruptcy protection and restructured. Given that would nullify union contracts and force more concessions, but that's what would have happened. Anytime the government intervenes in the free market system, we end up worse off than before.
No, they might have gone Chapter 11 but nobody was loaning any money. That was the problem. I don't like to see government have to get involved in business either but I think the situation warranted it. With the Wall Street crisis, we would have gone off the economic cliff into a point of no return and the world economies would have fallen in a domino effect. That was a consensus belief of a vast majority of economist from across the spectrum. There are virtually no free market businesses anymore. All of the large companies and major corporations receive some favorable treatment be it tax breaks, favorable legislation, subsidies, etc.. Honestly, the whole free market idea is more of a historical reference than a widespread enterprise these days.
Punisher

Jonesboro, AR

#98 Mar 2, 2013
Guest wrote:
<quoted text>
No, they might have gone Chapter 11 but nobody was loaning any money. That was the problem. I don't like to see government have to get involved in business either but I think the situation warranted it. With the Wall Street crisis, we would have gone off the economic cliff into a point of no return and the world economies would have fallen in a domino effect. That was a consensus belief of a vast majority of economist from across the spectrum. There are virtually no free market businesses anymore. All of the large companies and major corporations receive some favorable treatment be it tax breaks, favorable legislation, subsidies, etc.. Honestly, the whole free market idea is more of a historical reference than a widespread enterprise these days.
Because the government always gets involved. If they'd gone chapter 11 and liquidated, Barack's buddy Soros would have bought it and saved it. Sans union to be sure. Face it, there were votes to be bought and so they did.
Guest

Mayflower, AR

#99 Mar 2, 2013
There were thousands of jobs on the line and that doesn't even take in the thousands of jobs with other companies that make parts for the auto industry or are directly supported by the car industry. Not to mention the domino effect down to local dealerships that employ salesmen, mechanics, etc.. This was also at a time when we were already seeing a mass exodus of jobs and seeing a one of the Big 3 car manufacturers go under would have had a catastrophic effect on the fears of investors and others watching the US markets. It's not a simple as you would like to make it and, again, nobody was lending money except for the damn investment banks who never stopped making those shit loans. They damn sure weren't interested in investing in the GM unless it was at a fire sale where they could raid the company, break it apart and sell it ala carte. It was a good call that averted a real crisis that effected hundreds of thousands of real families!
Punisher

White Oak, TX

#100 Mar 2, 2013
Guest wrote:
There were thousands of jobs on the line and that doesn't even take in the thousands of jobs with other companies that make parts for the auto industry or are directly supported by the car industry. Not to mention the domino effect down to local dealerships that employ salesmen, mechanics, etc.. This was also at a time when we were already seeing a mass exodus of jobs and seeing a one of the Big 3 car manufacturers go under would have had a catastrophic effect on the fears of investors and others watching the US markets. It's not a simple as you would like to make it and, again, nobody was lending money except for the damn investment banks who never stopped making those shit loans. They damn sure weren't interested in investing in the GM unless it was at a fire sale where they could raid the company, break it apart and sell it ala carte. It was a good call that averted a real crisis that effected hundreds of thousands of real families!
No they weren't interested in loaning money to a company that wasn't viable. You are oversimplifying this. A company like GM has millions if not billions in assets. They go to bankruptcy and reorganize. They don't simply shutter the doors. Hers another angle. If it was any sort of a good investment, the union could have collectively bought the company, but they didn't do that because it was A screw deal. Instead they let the government use money they extort from the citizens to make a bad investment and lose a TON of money to buy some union votes. It worked, y'all got the same stupid bastard back in the whore house.
NoOne

Springdale, AR

#101 Mar 2, 2013
And GM thanked the unions by using tax payer money to build a plant in China.
Guest

Mayflower, AR

#102 Mar 2, 2013
Punisher wrote:
<quoted text>
No they weren't interested in loaning money to a company that wasn't viable. You are oversimplifying this. A company like GM has millions if not billions in assets. They go to bankruptcy and reorganize. They don't simply shutter the doors. Hers another angle. If it was any sort of a good investment, the union could have collectively bought the company, but they didn't do that because it was A screw deal. Instead they let the government use money they extort from the citizens to make a bad investment and lose a TON of money to buy some union votes. It worked, y'all got the same stupid bastard back in the whore house.
No, I understand it very well which is why I referenced Chapter 11 instead of Chapter 7. You seem to have forgotten that nobody was loaning money on anything remotely risky. And I've read enough about the hostile takeover dicks to know they buy up companies to destroy and sell off and they would have been the more likely vultures swooping over GM. We didn't lose any money; it's been repaid. GM is doing well and expanding their market to other countries which strengthens then company but they're not taking away American jobs to go into this market. GM was a good call which protected a huge industry & not just the GM employees. We'll just have to agree to disagree.
Sam I Am

Mountain Home, AR

#106 Mar 4, 2013
NoOne wrote:
And GM thanked the unions by using tax payer money to build a plant in China.
I would never buy a GM anything.
guest

Rogers, AR

#107 Mar 4, 2013
Sam I Am wrote:
<quoted text>I would never buy a GM anything.
Of course you would not you welfare monkey.living in Salem hahahahahaha hows that working for your new car buying process.if you cant find it in the Dollar store you don't buy it.

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