Users Online Now:
GLP Poker Rooms
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
Good Bye Obama
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:No Dhimmi:MV8yMDA4NTk1XzM0MjM3NzM5X0Q4RkQ3NTMz] Fact: The GM Bailout Destroyed some of the most important laws and precedents. In order to "save" GM and Chrysler without benefiting wealthy investors, [b]the Obama administration broke the law.[/b] It abridged the clear contracts of Chrysler's secured creditors (stealing their collateral and repaying them pennies on the dollar) and broke bankruptcy laws by awarding far more benefits ($17.8 billion) to GM's unionized creditors than it did to the company's bondholders ($8.1 billion). The inequities of these grants have gotten far worse over time, thanks to the privileged status of the union's GM-preferred stock, which pays a 9% annual dividend and consumes the lion's share of the company's operating profit. The government wasted hundreds of billions of dollars in capital to save a company whose products are mostly sold in other markets and aren't competitive in the U.S. And in doing so, it destroyed several hundred years of legal precedent that provides the foundation of capitalism in America. No matter what else you believe about the importance of GM or its workers, that wasn't a good decision. That $200 billion could have (and should have) been spent in a far more productive way. In time, the profound consequences of these poor choices will become abundantly clear. GM will go bankrupt again, that's almost certain. It is, even as I write this, heading straight back down the path of borrowing enormous sums from Wall Street. It has re-launched its financial division and is, once again, making loans and leases to people who can't afford its cars. It is, once again, selling huge quantities of poorly made vehicles to rental-car companies, which wipes out the resale value of its automobiles and makes consumers far less likely to pay full price for them. It is, once again, "stuffing" the channel – forcing dealers to buy too many cars that they can't sell. It is doing all of the same things that drove it into bankruptcy the first time… the very same things. One last point to ponder… all of the information above is public information. It is all part of the public record. How many of the candidates or members of the media are willing to discuss the plain facts of this situation? What does that mean for the future of our country… where even public investments of this size and magnitude are not understood or discussed openly by all serious media outlets? If we can't figure out what to do with our carmakers… how will we ever figure out what to do with the world's most powerful army… with the world's largest debts? [/quote]
Thanks for all the crap.
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
Truth behind chemo: ‘These drugs were derived from WWI chemicals’
Wisconsin city passes ordinance to fine parents of bullies hundreds of dollars
Donald Trump is now the Republican nominee Trump to stand unopposed as John Kasich ends Republican nomination bid
5/04/2016 -- New Fault + Large crack in ground forms in Pennsylvania / East Coast USA
Greenpeace has leaked a copy of the Transatlantic Trade and Investment Partnership
Earth Houses 1 Trillion Species of Microbe, Only 0.001 Percent are Known to Science
Strange 'alien structures' captured on Lunar Orbiter circling the Moon 'are evidence of UFO colony'
Mystery aircraft stuns onlookers
The Drug-Sniffing Car.
Want to Know What Facebook Really Thinks of Journalists? Here's What Happened When It Hired Some.
New study prompts caution for all those taking diabetes medication: some drug brands may increase the spread of cancer
Software security group demonstrates how hackers can use ransomware to harm and potentially kill hospital patients
Consumption of rare steak may be infecting Americans' minds with a parasitic bug that causes anger and rage
ay 4 - J. D. Heyes It's not just in the meal, but the packaging: BPA toxicity in fast food packaging could lead to high rates of brain defects
CONFIRMED: Cancer is entirely a man-made disease
Mood-altering statins extend lifespan by a mere three days
SMOKING GUN: Michigan scientist told colleague to 'bump out' high lead test results to avoid having to tell the public
Are You Ready For “Lab-Grown Meat” In Your Future?
Minnesotta Man Has Microchips Implanted In Skin
White House Poised To Create First Monument To Gay Rights Struggle
Town Passes Law to Use Cops to Combat Bullying by Going After the Parents
Google Now Has Access To Millions of Patients’ Medical Records
United Arab Emirates Is Considering Building a Fake Mountain to Bring Real Rain
The Convergence of Medicine and IoT Will Change Healthcare Forever
The 6 Alien Species Currently Fighting for Control Over Earth
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd. Godlike™
Website Design Copyright © 1999 - 2015 Godlikeproductions.com
Page generated in 0.016s (25 queries)