How Obama bought votes with Tax Payer money.

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“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

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#1
Jan 18, 2013
 

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Amazing. And this is not the biggest vote buying scheme set forth by the Marxist President.

Some facts:

- The government needs to get $72 per share for its remaining shares to break even on its $49.5 billion GM bailout.

- The government sold 200,000,000 shares last month at $27.50 per share. That is a NET LOSS of $9,000,000,000 ($9 Billion) against that same $72 per share break point.

- If the GM stock price holds steady for the next 14 months, and that is a very big IF, then the government will lose another $12,000,000,000 ($12 Billion).

Your children, your grandchildren, and your children's grandchildren will spit upon your grave for electing Barack Hussein Obama and then allowing him to ruin the US Economy.

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January 18, 2013 at 2:40 pm

Treasury can start selling remaining GM shares

By David Shepardson
Detroit News Washington Bureau

Washington - The Treasury Department's banks today can start selling off the government's remaining 300.1 million shares in General Motors Co.

The Treasury — which plans to sell its 19 percent stake in the Detroit automaker by the end of March 2014 — said it had filed a written trading plan for its stake.

Last month, it sold 200 million shares of its GM stock to the Detroit automaker for $5.5 billion, or $27.50 a share.

In order to prevent hedge funds and other investors from taking advantage, the Treasury doesn't make the training plan public. The plan places limits on how much stock can be sold at any given time and at what prices. Government officials also can provide the banks direction on when they should sell additional shares.

This week, the Treasury named Citigroup Inc. and JPMorgan Chase & Co. to manage the sale. They will get a 1 cent per share commission — or $3 million — for the sale of the entire stake.

The Treasury has said it "intends to sell its shares into the market in an orderly fashion and fully exit its remaining GM investment within the next 12-15 months, subject to market conditions."

The Treasury said there will be opportunities for smaller broker dealers, including women and minority-owned broker dealers, to participate in the sale of Treasury's remaining GM common shares pursuant to the plan.

The government needs to get $72 per share for its remaining shares to break even on its $49.5 billion GM bailout. It initially held a 61 percent stake before selling about half of its shares in GM's November 2010 IPO at $33 a share

GM shares fell on Friday in afternoon trading to $29.21, down $0.28, or 1 percent. At current prices, the Treasury would lose more than $12 billion on its GM bailout.

The Treasury still holds a 74 percent stake in Ally Financial, the Detroit-based auto finance firm, as part of a $17.2 billion bailout.

GM chief financial officer Dan Ammann said this week the automaker has no plans to buy any of the government's remaining shares.

The Treasury will periodically disclose how much of its remaining GM stake its banks have sold.

http://www.detroitnews.com/article/20130118/A...
Amused Slew

Seattle, WA

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Jan 18, 2013
 

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Smart Liberal wrote:
Amazing. And this is not the biggest vote buying scheme set forth by the Marxist President.
Some facts:
- The government needs to get $72 per share for its remaining shares to break even on its $49.5 billion GM bailout.
- The government sold 200,000,000 shares last month at $27.50 per share. That is a NET LOSS of $9,000,000,000 ($9 Billion) against that same $72 per share break point.
- If the GM stock price holds steady for the next 14 months, and that is a very big IF, then the government will lose another $12,000,000,000 ($12 Billion).
Your children, your grandchildren, and your children's grandchildren will spit upon your grave for electing Barack Hussein Obama and then allowing him to ruin the US Economy.
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January 18, 2013 at 2:40 pm
Treasury can start selling remaining GM shares
By David Shepardson
Detroit News Washington Bureau
Washington - The Treasury Department's banks today can start selling off the government's remaining 300.1 million shares in General Motors Co.
The Treasury — which plans to sell its 19 percent stake in the Detroit automaker by the end of March 2014 — said it had filed a written trading plan for its stake.
Last month, it sold 200 million shares of its GM stock to the Detroit automaker for $5.5 billion, or $27.50 a share.
In order to prevent hedge funds and other investors from taking advantage, the Treasury doesn't make the training plan public. The plan places limits on how much stock can be sold at any given time and at what prices. Government officials also can provide the banks direction on when they should sell additional shares.
This week, the Treasury named Citigroup Inc. and JPMorgan Chase & Co. to manage the sale. They will get a 1 cent per share commission — or $3 million — for the sale of the entire stake.
The Treasury has said it "intends to sell its shares into the market in an orderly fashion and fully exit its remaining GM investment within the next 12-15 months, subject to market conditions."
The Treasury said there will be opportunities for smaller broker dealers, including women and minority-owned broker dealers, to participate in the sale of Treasury's remaining GM common shares pursuant to the plan.
The government needs to get $72 per share for its remaining shares to break even on its $49.5 billion GM bailout. It initially held a 61 percent stake before selling about half of its shares in GM's November 2010 IPO at $33 a share
GM shares fell on Friday in afternoon trading to $29.21, down $0.28, or 1 percent. At current prices, the Treasury would lose more than $12 billion on its GM bailout.
The Treasury still holds a 74 percent stake in Ally Financial, the Detroit-based auto finance firm, as part of a $17.2 billion bailout.
GM chief financial officer Dan Ammann said this week the automaker has no plans to buy any of the government's remaining shares.
The Treasury will periodically disclose how much of its remaining GM stake its banks have sold.
http://www.detroitnews.com/article/20130118/A...
Gee, didn't bushwhacker ACTUALLY start the GM bailouts and wasn't the ACTUAL market value CRUSHED by a con-SEWER-tative administration ??? I know you'll post the real facts fairly, based on your unbiased "perspective"? LMAOROTFU~!
Amused Slew

Seattle, WA

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#3
Jan 18, 2013
 

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Both Presidents Barack Obama and George W. Bush have been criticized by the 2012 Republican presidential contenders for their roles in bailing out the U.S. auto industry.
Obama has proudly trumpeted the $85 billion bailouts of General Motors Co. and Chrysler Group LLC as a success story while the U.S. auto industry continues its dramatic recovery. Bush also recently defended the decision at a National Automobile Dealers Association convention in Las Vegas, saying he would “do it again.”
“I didn’t want there to be 21% unemployment,” Bush said.“I didn’t want to gamble. I didn’t want history to look back and say,‘Bush could have done something but chose not to do it.’ And so I said,‘No depression.’”
While it certainly would’ve made economic sense to allow the auto industry to suffer through the recession instead of continuing its infinite drain on the U.S. treasury, the consequences of such a collapse would have been devastating to America. Like the bank bailouts, while most people may not have liked it, allowing the auto companies to fail at that time would have contributed to a second Great Depression. Lawmakers are always stuck between balancing out sound economics with social instability, but the unpopularity of both will always take the higher priority with public office holders.
The American auto industry was once the centerpiece of the U.S. economy. While that’s no longer the case, it still remains important. It employs large numbers of people and purchases supplies from literally thousands of U.S. companies.
There can be endless debates of why the U.S. auto industry is in such trouble — from the decisions and makeup of management, to the unions that control much of the workforce, to the cost structures inherent in producing cars in the American economy. Whatever the reasons are, it left it woefully unprepared for the 2008 economic recession.
Recessions reveal weak businesses and destroy them, freeing up resources for new enterprises. They occur when, as is inevitable, inefficiencies and irrationalities build up in the financial and economic system. The resulting economic downturn imposes a harsh discipline that destroys the inefficient, encourages efficiencies, and opens the doors to new businesses using new technologies and business models. The year 2001 smashed the dot com technology sector in the U.S., but that opened the door for Google Inc.
The business cycle works well, but the human costs can be daunting. The collapse of inefficient businesses leaves workers without jobs, investors without money, and society less stable than before. The pain needed to rectify every country’s economy is enormous. Each country is prepared to accept a high degree of economic inefficiency to avoid, or at least postpone, the reckoning. The reckoning always comes, but for most of us, later is better than sooner. Economic rationality takes a back seat to social necessity and political common sense.
The last recession had hit the auto industry hard. The ultimate reason is the same one that destroyed the U.S. steel industry a generation ago: Given U.S. cost structures, producing commodity products is best left to countries with lower wage rates, while more expensive U.S. labor is deployed in more specialized products requiring greater expertise. Thus, there is still steel production in the U.S., but it is specialty steel production, not commodity steel.
<SNIP>
Amused Slew

Seattle, WA

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Jan 18, 2013
 

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>finis>

Allowing this to happen to the U.S. auto industry sounds easy, but the transition would be a bloodletting. Current employees of both the automakers and suppliers would be devastated. Institutions that have lent money to the automakers would suffer massive or total losses. Pensioners might lose pensions and health care benefits, and an entire region of the U.S.— the industrial Midwest — would be devastated. Something stronger would grow in its place eventually, but not soon enough for many of the current employees, shareholders and creditors.

Policymakers had a decision to make. If the automakers were allowed to fail, their drain on the economy would’ve ended; the pain would’ve been shorter (if not more intense); and new industries would emerge more quickly. But though their drain on the economy would end, the impact of the automakers’ failure on the economy would’ve been seismic. Unemployment would surge, as would bankruptcies of many auto suppliers. Defaults on loans would hit the credit markets. In the Midwest, home prices would plummet and foreclosures would skyrocket. And God only knows what the impact on equity markets would be.

Few if any believe the U.S. auto industry can survive in its current form. But there was an emerging consensus in Washington that the auto industry must not be allowed to fail in 2008-2009. The argument for spending money on the auto industry was not to save it, but to postpone its failure until a less devastating and inconvenient time. In other words, fearing the social and political consequences of a recession working itself through to its logical conclusion, Washington decided to spend money it knew it might not recover to postpone the failure.

There is also a powerful counter-argument to bailing out the U.S. auto industry. This argument holds that the auto industry is a drain on the U.S. economy, that it will never be globally competitive, and that if it is dragged back from the edge, no one will then say it is time to push it to the edge and over. The next time it will be on the brink will be during the next recession, and the same argument to save it will be used. In due course, the U.S. will be so terrified of the social and political consequences of business failure that it will maintain Chinese-like state owned enterprises, full of employees and generation-old plants and business models. Clearly, short-run solutions can easily become long-term albatrosses.

Wherever there is an economic downturn, politicians must decide whether society, and their own political futures, can withstand the rigors recessions impose. Every country in the world looks inward at the impact of any recession on its economy and measures its resources. Countries decide whether they have the ability to prop up businesses that should fail, what the social consequences of business failure would be, and whether they should try to use their resources to avoid the immediate pain of recession.

Each country is also trying to answer the question of how much pain it, and its regime, can endure. The more pain imposed, the healthier countries will emerge economically, unless of course the pain kills them. Ultimately, this is where the rationality of sound economics and the reality of social stability frequently diverge.
Consistent

Grantsburg, WI

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Jan 18, 2013
 

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Amused Slew wrote:
<quoted text>Gee, didn't bushwhacker ACTUALLY start the GM bailouts and wasn't the ACTUAL market value CRUSHED by a con-SEWER-tative administration ??? I know you'll post the real facts fairly, based on your unbiased "perspective"? LMAOROTFU~!
Has anybody ever told you that YOU had a point?

NEVER! Get a clue and STFU unless somebody rattles their zipper....then you know it is time for you to open your yap!

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

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Jan 18, 2013
 

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Consistent wrote:
<quoted text>
Has anybody ever told you that YOU had a point?
NEVER! Get a clue and STFU unless somebody rattles their zipper....then you know it is time for you to open your yap!
Too bad the ignorant dweeb does not realize what an ass he makes of himself every time he posts a comment.
Amused Slew

Seattle, WA

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Jan 18, 2013
 

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Too bad(comma)..

Poor TrashyLiar,
Your posts are really informative, intelligent, and to the point...

If you're a racist, teabagger, senile fool,

WHO HAD A CHANCE TO CALL ME NAMES TO MY FACE/WHIFFED !!! LMAOROTFU~!

Sure, it's your playground, after all....>

You pay the bills here and have that GREAT sense of entitlement, I know you like... LMAOROTFU~!
Insistent

Grantsburg, WI

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Jan 18, 2013
 

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Amused Slew wrote:
Too bad(comma)..
Poor TrashyLiar,
Your posts are really informative, intelligent, and to the point...
If you're a racist, teabagger, senile fool,
WHO HAD A CHANCE TO CALL ME NAMES TO MY FACE/WHIFFED !!! LMAOROTFU~!
Sure, it's your playground, after all....>
You pay the bills here and have that GREAT sense of entitlement, I know you like... LMAOROTFU~!
Did you hear a Zipper rattle?

Get out of the trunk of the Corvair! You ain't gonna get lucky swine!
Amused Slew

Seattle, WA

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#11
Jan 18, 2013
 
Too bad(comma)..

Poor TrashyLiar,
Your posts are really informative, intelligent, and to the point...

If you're a racist, teabagger, senile fool,

WHO HAD A CHANCE TO CALL ME NAMES TO MY FACE/WHIFFED !!! LMAOROTFU~!

Sure, it's your playground, after all....>

You pay the bills here and have that GREAT sense of entitlement, I know you like... LMAOROTFU~!
Capt Crunch

Phoenix, AZ

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Jan 18, 2013
 

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Amused Slew wrote:
Too bad(comma)..
Poor TrashyLiar,
Your posts are really informative, intelligent, and to the point...
If you're a racist, teabagger, senile fool,
WHO HAD A CHANCE TO CALL ME NAMES TO MY FACE/WHIFFED !!! LMAOROTFU~!
Sure, it's your playground, after all....>
You pay the bills here and have that GREAT sense of entitlement, I know you like... LMAOROTFU~!
There are NO ARMED GUARDS AT THE SCHOOL, unless the Obama kids are in attendance...

You're wrong and the headline is correct, "the school" has NO ARMED GUARDS.

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

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#18
Jan 21, 2013
 

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After finding out that the American public's vote can be purchased for a cell phone, and an increase in their welfare check, I am thinking that Obama next term will bring free cable TV.
Amused Slew

Seattle, WA

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#19
Jan 21, 2013
 
The New York Times notes in an editorial, the Obama administration does not pass out free phones for votes. There is a national program that provides low-income people with free or discounted phones, but it was started under George W. Bush, Obama's Republican predecessor.

Poor TrashyLiar, change monikers, but the stupidity of your tripe smells the same ! LMAOROTFU~!

Since: Sep 11

Rogers, MN

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Jan 21, 2013
 

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Smart Liberal wrote:
After finding out that the American public's vote can be purchased for a cell phone, and an increase in their welfare check, I am thinking that Obama next term will bring free cable TV.
Let us not forget the promise of free money, the promise of free health care, the promise of ending wars, the promise of closing Guantanamo, the promise of etc etc.

Humans are so gullible sometimes. Nothing is free.
Amused Slew

Seattle, WA

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#21
Jan 21, 2013
 
I like poor posts, so I can offer a do-over and ask you for proof, unless you cantgetitup ???

“The one and only Smart Liberal”

Since: Aug 12

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#22
Jan 21, 2013
 

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Numb nuts has been big on posting that the Obamaphone program really started under Bush. Who the F#$% cares?

The Obama Administration greatly expanded Obamaphone usage.

The Obama Staff at the White House will answer your questions about an "Obamaphone" and then tell you where you can get one.

Obama's people take credit for the Obamaphone.

It is an Obamaphone no matter what anyone else says.
Amused Slew

Seattle, WA

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#23
Jan 21, 2013
 
Actually, it isn't, but you ARE a racist POS, liar... Hertz, huh ???

Gee, your same "proof" says Romney sucks BAD !!!

If YOU say so.... I guess you're proving Romney SUCKS, too ??? LMAOROTFU~!
JiggerParty

United States

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#24
Jan 21, 2013
 
What's a Jigger to do.

Since: Sep 11

Rogers, MN

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#25
Jan 21, 2013
 
Smart Liberal wrote:
Numb nuts has been big on posting that the Obamaphone program really started under Bush. Who the F#$% cares?
The Obama Administration greatly expanded Obamaphone usage.
The Obama Staff at the White House will answer your questions about an "Obamaphone" and then tell you where you can get one.
Obama's people take credit for the Obamaphone.
It is an Obamaphone no matter what anyone else says.
It is quite puzzling that he got re-elected in that he did nothing he promised to do and little more than continue the policies enacted by Bush. You would think, for as much as they bashed W, Obama's constituency would have been angered by that. Once Obama got in office, those same policies are all good ideas?
Amused Slew

Seattle, WA

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#26
Jan 21, 2013
 
He did nothing ??? Funny, since you complain about every policy he's passes, PUTZ ! "Man", when anyone asks for any proof, you cantgetitup ??

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

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#27
Jan 21, 2013
 
cantmakeitup wrote:
<quoted text>
It is quite puzzling that he got re-elected in that he did nothing he promised to do and little more than continue the policies enacted by Bush. You would think, for as much as they bashed W, Obama's constituency would have been angered by that. Once Obama got in office, those same policies are all good ideas?
Correct cant. But the reason he got re-elected boils down to 3 little words: LOW INFORMATION VOTERS.

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