Damn..Who knew filing for bankruptcy would be so lucrative!

I want some of that action. Screw working for a living…….

Anyone else hear that? Sounds like a fat chick singing.

Up here we call her Rita MacNeil. She can belt ‘em out but it sure ain’t pretty.

This will cost Obama his reelection. Politics got us into this mess, but it will not get us out. I think I am going to go over to a GM office and throw a party for friends and family in one of their conference rooms—I now own a part of it…may as well get my lost taxes out of it one way or another.

The word LOAN is so similar to the acronym LMAO that it isn’t funny anymore.

This won’t cost Obama a thing in the long run. He is making a move to bring more stability to the economy… and all the chips aren’t on the floor yet. It certainly isn’t the smartest decision… but at least it will begin to allow some forward progress. We all have to hit bottom before we can begin the climb again. Though it would be nice to see some of those tax dollars used to make the Volt cheaper.

And again… I see so many people bitching about this… yet noone seems to miss the billions of TARP fund dollars that have just dissapeared into the hands of AIG, Citi, and BoA.

Oh Raineman, the 500 billion given to the banks is all loans, right?

Not to sound like any of the people that complain about there tax money( as if I had the choice of where the government spends it any ways) but I figure with the tax money I paid last year i should get the Volt for free of atleast a great deal on the Converj.

Comm’n kids you think it is the last 30 billions going into this black hole? Are you kidding me? It will get to 100 billions before it will implode.

BoA and Goldman Sachs were ready to repay their loans in an article in Bloomberg earlier this week. Word was the gov’t wasn’t ready to accept repayment because that means the banks could hand out bonuses again.

These auto loan will never be repaid.

Fletch,

It goes something like this,

“here’s the money I owe you.”
“nah, don’t worry about it, but remember you owe me.”

The government would rather have control over these companies than be repaid.

Fletch, most of banks want to get rid of those “loans”. Administration refuses to take loans back. It is not because of bonuses; it is because banks want to do business as it is best for their investors, and that is not the goal of current Presidency. With “loans” outstanding Treasury can dictate to banks on where parlay money and it does. Never mind bonuses, if you think execs are not getting what is coming to them you are naive, it is the whole model of “wealth redistribution” that is being exercised.

I agree with Fletch about the loans never being repaid. This will be just like the $7 billion dollars in “loans” given to Chrysler, which they’ve said they have no intention of repaying. Anyone else find that to be just a wee bit absurd? Are there children running this show or something? “Hey, that money is mine now!”
*sticks tongue out* “NYAH” … (best I could think of for sounding that out)

“Anyone else hear that? Sounds like a fat chick singing.”

That’s just NMOFGM.

“the U.S. government will own at least 50 percent of the ‘new’ GM, if not more. That ownership would give the federal government the right to appoint new GM directors, according to Automotive News.”

And the government will no doubt appoint their own “Yes” men. Those with a passion to kiss Obama’s arse instead of a passion for the automobile.

key4wheels… I’d rather see them kissing Obama’s arse than filling their own wallets. No one at GM has had passion for the automobile in years. If they did have some we’d see more Camaros on the road and less Tahoes.

RaineMan

GM had that guy: Bob Lutz. He is responsible for the Camaro even existing today. Obama’s lackeys will be nothing more than a mouthpiece for the EPA which will be running GM.

Bob Lutz should just be the auto czar…. That would be sweet!!!! Government fleets would be all sports cars and RWD would be the standard for all new automobiles. No worries about global warming, he don’t believe it and I have to agree. What a auto industry it would be…

Lutz? Are you kidding me? Lutz was a putz. The man who so loudly proclaimed that “Global warming does not exist.”

Yeah… remind me to thank him for the Tahoe, and the Escalade ESV, and the Hummer H2, and all those other miserable wastes of fuel that clog up suburban throughfares while hauling a single occupant.

Let’s keep offroad vehicles where they belong… OFF THE ROAD!

@RaineMan – If you knew about Lutz, you’d also know he wasn’t a part of the SUVs GM put out. Obviously you don’t know Bob Lutz but you are quick to the gun to blaim him on the problems GM had.

WHAT i FIND FUNNY AS HELL,…

IS THAT EVER YEAR I GET MONEY BACK FORM MY TAXES…..

If the world is getting warmer, why am I so frelling cold?

The world isn’t warming. It’s cooling.

However, that doesn’t mean that everyone should be driving large off-road-capable SUVs to work. The roads would be much less crowded if cars were smaller and people rode together. My perfect setup would be a small car for work trips (an EV would be good in my opinion), a minivan (which I have) or a larger family car for family stuff and road trips (Volt is a good choice for this), a truck for towing and hauling ONLY (or a neighbor with a truck), and a sports car or a motorcycle for the weekend fun.

Another wat! For all dat money i’d do w/o a gm n all their products.

They better start givin away free camaros n escalades to all taxpayers fa all dat sh!t!

,-)

It sucks that all this money is being thrown away on GM and Chrysler, but it’s even worse that so much money was given to financial institutions. Those pricks were already living the high life thanks to speculative investments and earning money through interest. Then they get bailed out and can continue living the high life!?

I wish everyone would stop whining about SUV’s, or at least stop blaming their popularity on the automakers. The market is dictated by…. demand. They built ‘em because we bought ‘em. It is not our right to control what other people buy.
On Topic- I am glad at least one of the “big 3″ stayed away from this mess. I respect the Ford family for that decision.

Dang I wish NMOFGM was here to see this.

when the BIg 3 where in washington asking for the loan, it was mentioned that bankruptcy was more expensive than the money they where asking for. so what the surprise here?

Respect Ford family for what??? All that is different about Ford is they borrowed $21.5 billion before the bottom fell out. And that is the opinion of the Ford employees also.

Carstuff- I respect the Fords for being smart enough to keep their company safe from the direct influence of our government, no matter how they accomplished that. They went into this situation being everybody’s #1 choice as first to go under, and half-way through it they are on top (out of “big” 3). Are you a Ford employee? Would you rather be “working” for GM or Chrysler right now? Or is that the USgovt and Fiat? Or Magna and Fiat? Or Fiat and Fiat?

Last Thursday the US Senate ALSO gave the IMF $100 Billion.

I am stocking up on toilet tissue due to the paper shortage coming from printing all this money.

be prepared for some irs-guys sneaking round your door rather soon… all that “loans” that GM got need to be refinanced…