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Seuss
Error: divide byzero



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U.S. loses $1.3 billion in exiting Chrysler
#14807097 - 07/22/11 05:55 AM (12 years, 6 months ago) |
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Source: CNN Money:
Quote:
U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.
"The fact that the company has done so well -- that they were able to go out and raise private capital to repay us the loan so quickly, is really the big story," said Tim Massad, Treasury assistant secretary for financial stability.
I don't see how losing $1.3 billion can be considered "doing really well". I guess since they didn't really lose it, but instead fucked over the tax payers, it isn't so bad for them. Even better, who benefits from the US taxpayers money? Could it be an Italian company?
Quote:
Fiat paid the Treasury a total of $560 million for the remaining shares, as well as rights to shares held by the United Auto Workers retiree trust. Fiat now owns a 53.5% stake in the company.

How much is this mess costing us?
Quote:
... by the time the $80 billion program is completely wrapped up, taxpayers will have lost $14 billion.
And other than helping out the Italian's, what does 14 billion accomplish?
Quote:
Since the bailout, about 113,000 of those jobs have been recovered.
Do the math... that is over $123,000 per job. Ouch...
Quote:
"We didn't make the auto interventions to make money, we made them to save jobs -- and on that front, we dramatically succeeded," Massad said.
Saved a whole 113,000 jobs for the low, low price of $14 billion dollars.
But what about those banks... how much did we lose on them?
Quote:
The bank bailout part of TARP is expected to turn a profit of $20 billion, making up for some of those losses.
Damn them... raise their taxes!
-------------------- Just another spore in the wind.
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sixbluntsdeep
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: Seuss]
#14808359 - 07/22/11 12:00 PM (12 years, 6 months ago) |
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1) calling it a loss is like saying I lost ten million dollars because I didn't win the powerball last night. They paid back the loan FASTER than what was expected, so it was 1.3 billion potential earnings not capitalized on. If more Americans paid back their loans like Chrysler, we wouldn't be in our situation we are today. 2)We're really going to be doing straight math with total$/jobs to get the "cost per job?" This method is prone to be taken out of context, kinda like how earlier the number was $250,000 per job thrown out by the repubs is taken completely out of context. 3) these employees get paid well. They will eventually pay their fair share of taxes to recuperate such a "loss." Imagine 133,000 more people added to the unemployment COLLECTING taxpayer money for assistance instead of PAYING taxes. But of course, collecting revenue is the devil to Republicans  4)banks are making HUGE profits. Of course they're going to be money raisers instantly. Too bad that 20 billion didn't go back to the taxpayers who bailed them out.
I like this forum already, some interesting topics that are worth discussing
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Seuss
Error: divide byzero



Registered: 04/27/01
Posts: 23,480
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: sixbluntsdeep]
#14808864 - 07/22/11 01:38 PM (12 years, 6 months ago) |
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> 1) calling it a loss is like saying I lost ten million dollars because I didn't win the powerball last night.
It is a loss because they paid back less than they borrowed. The tax payers LOST $1.3 billion dollars. Gone. Poof. Never to be seen again. Interest has nothing to do with the matter. Chrysler borrowed $12.5 billion. The government got back $11.2 billion. That is a difference of $1.3 billion, which is a loss on the principal, not on interest or any other excuse you can think up.
> 2)We're really going to be doing straight math with total$/jobs to get the "cost per job?"
Spin it all you like, that is what it cost to save the jobs for this one automaker.
> 3) these employees get paid well.
So well paid that they drove their company in to bankruptcy. I blame both the unions for forcing unsustainable benefit packages and management for accepting said benefit packages.
> 4) ... Too bad that 20 billion didn't go back to the taxpayers who bailed them out.
No shit... instead it went to make up the difference for the failed car companies that were bailed out. Sick, isn't it?
-------------------- Just another spore in the wind.
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luvdemshrooms
Two inch dick..but it spins!?


Registered: 11/29/01
Posts: 34,247
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: Seuss]
#14809205 - 07/22/11 02:41 PM (12 years, 6 months ago) |
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Quote:
Seuss said: Sick, isn't it?
Far sicker than most know. (your numbers are correct by the way, taxpayers lost 1.3b in principle... not interest)
By wait... there's more!
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Last Updated: June 01. 2011 4:07PM Feds: Auto bailout losses will be less than $16B David Shepardson/ Detroit News Washington Bureau
Washington - The Obama administration expects to lose less than $16 billion on its bailout of U.S. automakers and auto finance companies.
"While the government does not anticipate recovering all of the funds that it invested in the industry, the Treasury's loss estimates have consistently improved - from more than 60 percent in 2009 to less than 20 percent today," the White House National Economic Council said in a report released today.
The Treasury Department said in a May 10 report that its estimate of auto bailout losses as of March 31 is $13.9 billion. The Congressional Budget Office also estimates a $14 billion loss. The CBO has written off $8 billion of the government's auto bailout as an unrecoverable loss.
Of the $80 billion invested in General Motors Co., Chrysler Group LLC, Ally Financial Inc. and Chrysler Financial, $40 billion has been recovered.
The White House also disclosed that President Barack Obama on Friday will visit Chrysler's Toledo Supplier Park. Obama "will also hear firsthand from local business owners and residents about the importance of the auto industry resurgence to the community as a whole and the economic devastation it would have faced had Chrysler been allowed to fail."
Ron Bloom, the former auto czar and now a White House aide, told reporters at the White House that the company had no "target price" for its remaining stakes in GM or Chrysler. Bloom said there was no "joy" in the fact that the government won't recover all of its bailout funds — but said the administration couldn't hold out for the maximum return to taxpayers.
"We have a broader obligation to play a constructive role in the overall economy," Bloom said.
But the losses aren't the entire story, Bloom said. "As we record what was lost, we need to record what was saved."
The White House report cited independent analysts that suggested 1 million jobs were saved and "that the administration's intervention saved the federal government tens of billions of dollars in direct and indirect costs, including transfer payments like unemployment insurance, foregone tax receipts, and costs to state and local governments."
He said the government was moving ahead with exits.
"We are pulling back from these companies," Bloom told reporters.
The Republican National Committee said the administration should do more to help taxpayers recover funds.
"It's a good thing for Chrysler to get back on its feet and be able to provide jobs in states like Michigan, but with trillions of debt and deficits, the American taxpayers can't be on the hook for billions of dollars in loans. Chrysler is starting to do what every American does when they have a loan — pay it back. President Obama should put as much effort into making sure the taxpayers are paid back in full as they have been in taking unnecessary victory laps," said RNC spokeswoman Kirsten Kukowski.
The White House report acknowledged the government could lose up to $1.9 billion on its bailout of Chrysler Group LLC. The government still will collect some additional funds as it sells its roughly 6 percent stake in the Auburn Hills automaker — and the Treasury could announce the completion of its sale to Fiat SpA as early as Friday.
Separately, the U.S. government has recovered $23.1 billion of its bailout of GM. If it sold its remaining 500 million shares, it would lose about $10.7 billion at current trading prices.
The report is the latest in a concerted effort by the Obama administration to tout the auto bailout. Treasury Secretary Timothy Geithner wrote an op-ed today in the Washington Post.
"We cannot guarantee their success, and at some point they may stumble. But we've given them a better shot. The choice to stop the American automobile industry from unraveling was the right one," Geithner wrote. "While we will not get back all of our investments in the industry, we will recover much more than most predicted, and far sooner."
The company recorded a $116 million net profit in the first quarter. Last week, Vice President Joe Biden visited a Chrysler dealership to make the same point.
The company repaid its $5.1 billion in its outstanding U.S. government loans last week by refinancing them in the private sector.
The auto bailout, hotly criticized by many Republicans, is becoming a cornerstone of Obama's re-election effort.
The White House reported that since GM and Chrysler emerged from bankruptcy in mid-2009 "they have announced investments totaling over $8 billion in their U.S. facilities, creating or saving nearly 20,000 jobs."
The administration reiterated calls on Congress to do more to help the auto sector and manufacturing, including "investing in a 21st century infrastructure, making the R&E tax credit permanent, reauthorizing the Clean Energy Manufacturing Tax Credit, (and) passing patent reform … and supporting continued investments in clean energy and advanced manufacturing. There is no time to waste."
dshepardson@detnews.com
**********************************************************
Thank goodness, only 16 billion. I thought for a minute it'd be real money.
-------------------- You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it. ~ Adrian Rogers
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SirTripAlot
Semper Fidelis


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: Seuss]
#14811317 - 07/22/11 10:41 PM (12 years, 6 months ago) |
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....why I will never by a GM product, ever.
Every person within earshot, will hear how dicked up the cars ( I have owned a Stratus, Ram, and a 5th AVE) and company is for the rest of my life. For those who agree with the OP, I recommend doing the same. Never let this to be forgotten.
My prediction is that in no more than 5 years, Chrysler will be gone.
-------------------- “I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.”
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sixbluntsdeep
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: SirTripAlot]
#14811520 - 07/22/11 11:38 PM (12 years, 6 months ago) |
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imachavel
I loved and lost but I loved-ftw



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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: Seuss]
#14811981 - 07/23/11 02:54 AM (12 years, 6 months ago) |
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Quote:
Seuss said: Source: CNN Money:
Quote:
U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.
"The fact that the company has done so well -- that they were able to go out and raise private capital to repay us the loan so quickly, is really the big story," said Tim Massad, Treasury assistant secretary for financial stability.
I don't see how losing $1.3 billion can be considered "doing really well". I guess since they didn't really lose it, but instead fucked over the tax payers, it isn't so bad for them. Even better, who benefits from the US taxpayers money? Could it be an Italian company?
I always hate reading crap like this, then hearing that all out debt comes from housings, health care, social security, but not defense. I mean 1 billion aint nothing, seems like obama loses a billion a day, plus what he is losing already? jesus, 12 years in 3 terms of joke presidents, starting with bush and ending with obama. I could do better then these guys playing monopoly. that's what it is isn't it? you land here pay me $2000. how fucking hard can it be to buy the right pieces knowing where the player will land? I mean, sure, sometimes it's nice to purchase board walk avenue, but if the player never lands on it, buy a cheaper property.
reading about obama and how he followed bush is like grinding glass into your eye and hoping it'll help you see better. it's just painful, these guys can't tie their own shoes never the less even attempt to run a country. AGH! it hurts! my eye it hurts! ahh, now I can see better
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I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!
I'm never giving you the password again. Jerk
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JT


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: sixbluntsdeep]
#14812700 - 07/23/11 09:41 AM (12 years, 6 months ago) |
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Quote:
sixbluntsdeep said: http://www.nytimes.com/2008/12/20/business/20auto.html
How short-sighted we are.
both of them fucked us over
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sixbluntsdeep
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: JT]
#14812718 - 07/23/11 09:49 AM (12 years, 6 months ago) |
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Quote:
JT said:
Quote:
sixbluntsdeep said: http://www.nytimes.com/2008/12/20/business/20auto.html
How short-sighted we are.
both of them fucked us over
Yup... But people here can only blame Obama. Half these douchers couldn't stop pointing fingers for 30 seconds and try coming up with their OWN ideas, it is just too easy to blame others and follow the pack.
I think it is funny though, both parties are doing what they have never done -- taking responsibility for this fucking mess they got us in. But of course, it isn't anybody taking sole responsibility, it is "not only us, but them too." It's like asking a group of 3 year olds who ate all the cookies.
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love2shpongleIRL
Opiophile


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: JT]
#14812740 - 07/23/11 09:59 AM (12 years, 6 months ago) |
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Yup, don't they make the m1abrahms tank? What will happen to that when they go under?
-------------------- Only those who will risk going too far can possibly find out how far one can go. T. S. Eliot
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sixbluntsdeep
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: love2shpongleIRL]
#14812753 - 07/23/11 10:03 AM (12 years, 6 months ago) |
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We'll just import them from China because they can pay them a dollar a day. Damn.. What a money saving opportunity!
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zappaisgod
horrid asshole


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: sixbluntsdeep]
#14813247 - 07/23/11 12:01 PM (12 years, 6 months ago) |
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Quote:
sixbluntsdeep said:
Quote:
JT said:
Quote:
sixbluntsdeep said: http://www.nytimes.com/2008/12/20/business/20auto.html
How short-sighted we are.
both of them fucked us over
Yup... But people here can only blame Obama. Half these douchers couldn't stop pointing fingers for 30 seconds and try coming up with their OWN ideas, it is just too easy to blame others and follow the pack.
Obama went far beyond that initial $13B and then interfered in the bankruptcy proceedings as well, fucking over creditors to benefit union scum. Say, what party controlled both houses of Congress then? Did you know that Congress determines the budget? True story, brah. Exhibit A: What happened to the budget Obama presented to the Senate.
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sixbluntsdeep
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: zappaisgod]
#14813393 - 07/23/11 12:38 PM (12 years, 6 months ago) |
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It got shot down 97-0. But then again, like I've stated, I don't think it is Obama's job to be creating a budget.
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zappaisgod
horrid asshole


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: sixbluntsdeep]
#14813432 - 07/23/11 12:49 PM (12 years, 6 months ago) |
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Quote:
sixbluntsdeep said: It got shot down 97-0. But then again, like I've stated, I don't think it is Obama's job to be creating a budget.
Then I ask yet again, why should he even be involved in the discussion? He is, as you said, no economist (there's a fucking Duh! for ya.).
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sixbluntsdeep
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: zappaisgod]
#14813489 - 07/23/11 12:59 PM (12 years, 6 months ago) |
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Because he is the highest Democrat in office. Just like the reason Boehner is in there. He is the highest Republican in office. All they are really doing is debating ideologies and numbers so that the people who do economic work can drill out specific details.
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zappaisgod
horrid asshole


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: sixbluntsdeep]
#14813629 - 07/23/11 01:32 PM (12 years, 6 months ago) |
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Quote:
sixbluntsdeep said: Because he is the highest Democrat in office. Just like the reason Boehner is in there. He is the highest Republican in office. All they are really doing is debating ideologies and numbers so that the people who do economic work can drill out specific details.
Yes but you keep saying he isn't an economist and he shouldn't have to make a plan. So why even bother with him until there is a deal with the people who matter? Let the cunt veto it.
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Therian
Stranger

Registered: 03/04/09
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: zappaisgod]
#14813938 - 07/23/11 02:44 PM (12 years, 6 months ago) |
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Quote:
Obama went far beyond that initial $13B and then interfered in the bankruptcy proceedings as well, fucking over creditors to benefit union scum.
So what is the final cost to the taxpayer, 15 billion? Then I guess these upstanding creditors are ten times worse than the union scum. Can you say S&L crisis? These creditor scum put us on the tab for $178.56 BILLION dollars. Who helped pay off these taxes to bailout the banking scum? Union scum!
I wish I had been a banker, make risky \shady investments and you can rake in a huge profit. Make these same investments and lose, it's ok, the taxpayers will bail you out. If you completely lie to, and fuck over your customers, ensuring the elderly lose their life savings, it's ok. the congressmen you paid off will come to your aid and stop the inquiry into your illegal deeds.
The Keating Five were five United States Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five senators, Alan Cranston (Democrat of California), Dennis DeConcini (Democrat of Arizona), John Glenn (Democrat of Ohio), John McCain (Republican of Arizona), and Donald W. Riegle, Jr. (Democrat of Michigan), were accused of improperly intervening in 1987 on behalf of Charles H. Keating, Jr., chairman of the Lincoln Savings and Loan Association, which was the target of a regulatory investigation by the Federal Home Loan Bank Board (FHLBB). The FHLBB subsequently backed off taking action against Lincoln.
Lincoln Savings and Loan collapsed in 1989, at a cost of over $3 billion to the federal government. Some 23,000 Lincoln bondholders were defrauded and many elderly investors lost their life savings. The substantial political contributions that Keating had made to each of the senators, totaling $1.3 million, attracted considerable public and media attention. The core allegation of the Keating Five affair is that Keating had made contributions of about $1.3 million to various U.S. Senators, and he called on those Senators to help him resist regulators. The regulators backed off, to later disastrous consequences.
McCain and Keating had become personal friends following their initial contacts in 1981,[11] and McCain was the only one of the five with close social and personal ties to Keating.[42][43] Like DeConcini, McCain considered Keating a constituent as he lived in Arizona.[35] Between 1982 and 1987, McCain had received $112,000 in political contributions from Keating and his associates.[44] In addition, McCain's wife Cindy McCain and her father Jim Hensley had invested $359,100 in the Fountain Square Project, a Keating shopping center, in April 1986, a year before McCain met with the regulators.[7][45] McCain, his family, and their baby-sitter had made nine trips at Keating's expense, sometimes aboard Keating's jet; three of the trips were made during vacations to Keating's opulent Bahamas retreat at Cat Cay.[7] McCain did not pay Keating (in the amount of $13,433) for some of the trips until years after they were taken, when he learned that Keating was in trouble over Lincoln.[7][46] In 1989 Phoenix New Times writer Tom Fitzpatrick opined that McCain was the "most reprehensible" of the five senators.[47]
http://en.wikipedia.org/wiki/Keating_Five
Yep, if your elderly and you lose everything, its ok. McCain got at least nine free vacations paid for, as well as campaign contributions, why should he give a fuck about you? And the media paints this guy as some type of hero. Let the creditors and Chrysler fail.
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zappaisgod
horrid asshole


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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: Therian]
#14814005 - 07/23/11 03:09 PM (12 years, 6 months ago) |
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Quote:
Therian said:
Quote:
Obama went far beyond that initial $13B and then interfered in the bankruptcy proceedings as well, fucking over creditors to benefit union scum.
So what is the final cost to the taxpayer, 15 billion? Then I guess these upstanding creditors are ten times worse than the union scum. Can you say S&L crisis? These creditor scum put us on the tab for $178.56 BILLION dollars. Who helped pay off these taxes to bailout the banking scum? Union scum!
Are you talking about 1990? Say, did you know this isn't the first time Chrysler got bailed out? True story, brah.Quote:
I wish I had been a banker, make risky \shady investments and you can rake in a huge profit. Make these same investments and lose, it's ok, the taxpayers will bail you out. If you completely lie to, and fuck over your customers, ensuring the elderly lose their life savings, it's ok. the congressmen you paid off will come to your aid and stop the inquiry into your illegal deeds.
The Keating Five were five United States Senators accused of corruption in 1989, igniting a major political scandal as part of the larger Savings and Loan crisis of the late 1980s and early 1990s. The five senators, Alan Cranston (Democrat of California), Dennis DeConcini (Democrat of Arizona), John Glenn (Democrat of Ohio), John McCain (Republican of Arizona), and Donald W. Riegle, Jr. (Democrat of Michigan), were accused of improperly intervening in 1987 on behalf of Charles H. Keating, Jr., chairman of the Lincoln Savings and Loan Association, which was the target of a regulatory investigation by the Federal Home Loan Bank Board (FHLBB). The FHLBB subsequently backed off taking action against Lincoln.
What happened again? What did you say? McCain was completely cleared and only included because they needed a Republican?Quote:
Lincoln Savings and Loan collapsed in 1989, at a cost of over $3 billion to the federal government. Some 23,000 Lincoln bondholders were defrauded and many elderly investors lost their life savings. The substantial political contributions that Keating had made to each of the senators, totaling $1.3 million, attracted considerable public and media attention. The core allegation of the Keating Five affair is that Keating had made contributions of about $1.3 million to various U.S. Senators, and he called on those Senators to help him resist regulators. The regulators backed off, to later disastrous consequences.Quote:
McCain and Keating had become personal friends following their initial contacts in 1981,[11] and McCain was the only one of the five with close social and personal ties to Keating.[42][43] Like DeConcini, McCain considered Keating a constituent as he lived in Arizona.[35] Between 1982 and 1987, McCain had received $112,000 in political contributions from Keating and his associates.[44] In addition, McCain's wife Cindy McCain and her father Jim Hensley had invested $359,100 in the Fountain Square Project, a Keating shopping center, in April 1986, a year before McCain met with the regulators.[7][45] McCain, his family, and their baby-sitter had made nine trips at Keating's expense, sometimes aboard Keating's jet; three of the trips were made during vacations to Keating's opulent Bahamas retreat at Cat Cay.[7] McCain did not pay Keating (in the amount of $13,433) for some of the trips until years after they were taken, when he learned that Keating was in trouble over Lincoln.[7][46] In 1989 Phoenix New Times writer Tom Fitzpatrick opined that McCain was the "most reprehensible" of the five senators.[47]
http://en.wikipedia.org/wiki/Keating_Five
Yep, if your elderly and you lose everything, its ok. McCain got at least nine free vacations paid for, as well as campaign contributions, why should he give a fuck about you? And the media paints this guy as some type of hero. Let the creditors and Chrysler fail.
Excuse me but McCain was completely cleared. He was even only included because they needed a Republican to not appear partisan. He did absolutely nothing wrong. They were personal friends and McCain's wife is loaded to such an extent that these flights were of no consequence.
From YOUR link:
Quote:
The Ethics Committee ruled that the involvement of McCain in the scheme was also minimal, and he too was cleared of all charges against him.[56][57] McCain was criticized by the Committee for exercising "poor judgment" when he met with the federal regulators on Keating's behalf.[7] The report also said that McCain's "actions were not improper nor attended with gross negligence and did not reach the level of requiring institutional action against him....Senator McCain has violated no law of the United States or specific Rule of the United States Senate."[60] On his Keating Five experience, McCain has said: "The appearance of it was wrong. It's a wrong appearance when a group of senators appear in a meeting with a group of regulators, because it conveys the impression of undue and improper influence. And it was the wrong thing to do."
After this I can only assume that you are a serial liar with no interest in the truth. You should write for the NY Times.
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imachavel
I loved and lost but I loved-ftw



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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: sixbluntsdeep]
#14814100 - 07/23/11 03:40 PM (12 years, 6 months ago) |
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Quote:
sixbluntsdeep said:
Quote:
JT said:
Quote:
sixbluntsdeep said: http://www.nytimes.com/2008/12/20/business/20auto.html
How short-sighted we are.
both of them fucked us over
Yup... But people here can only blame Obama. Half these douchers couldn't stop pointing fingers for 30 seconds and try coming up with their OWN ideas, it is just too easy to blame others and follow the pack.
I think it is funny though, both parties are doing what they have never done -- taking responsibility for this fucking mess they got us in. But of course, it isn't anybody taking sole responsibility, it is "not only us, but them too." It's like asking a group of 3 year olds who ate all the cookies.
yeah I didn't realize bush and his 8 years of republican madness lead us into this mess. it's all obama's fault. if you ask me bush was the mastermind and then obama's democrat circus needed a spokes person so they handed the job to a person with not so high i.q. basically put, obama is a retard spokes person just carrying on the bush tradition but in democrat style. he is a moron, and so was bush, but well trained morons, able to fool us all into thinking they can run the country with extreme political agendas and dead lines. Not just anyone can be president, but obviously these guys can't tie their shoes in the morning.
the whole republican vs democrat argument is moot, they are all dip shits, with no viable financial business models to base their plans on that will work. they are all running us into the ground, and not a single one of them has half a brain. according to most people, this debt has been building up for decades and decades now, so no business model in the last 20-40 years has worked. all we have is debt and no way out of the deficit
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I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!
I'm never giving you the password again. Jerk
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Therian
Stranger

Registered: 03/04/09
Posts: 684
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Re: U.S. loses $1.3 billion in exiting Chrysler [Re: imachavel]
#14814540 - 07/23/11 05:39 PM (12 years, 6 months ago) |
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Quote:
Are you talking about 1990? Say, did you know this isn't the first time Chrysler got bailed out? True story, brah
No shit brah. Banks have been bailed out prior to this, so has a railroad, the airline industry, as well as many others. This does not negate the fact that if 1.3 billion is lost due to Chrysler, it pales in comparison to what the banks got away with. Lets see 1.3 billion VS. 178 billion. What the banks cost us is over 100 times what Chrysler cost us.
This is a fact brah, whether you like it or not. What McCain was cleared of was criminal charges. He should have been brought up on ethical violations to say the least. Since when is going to prosecutors and telling them to lay off a felon friend of yours who has given you hundreds of thousands of dollars in legalized bribes and trips not meddling with a federal investigation. At the very least it was a conflict of interest and he was defending an asshole that defrauded seniors out of tens of millions of dollars.
Why didn't he defend those that had been screwed by his "friend" Why didn't he seek a criminal investigation into the guy that was stealing from those that could least afford it? Why did he try tamper with a federal investigation? As for needing a republican, all the congressmen set up a meeting with the investigators to tell them to stop with their inquiry into the wrongdoings of Keating. He paid them all off and he even stated he did it to get preferential treatment from the law.
I don't give a shit which side did it, as they are all lying money whores. Obviously as the article states they would gladly fuck over seniors if it they were given enough money and paid vacations from a felon to do so. I've heard you previously describe a republicans actions as being "less than truthful" I guess that is where we differ. Whereas you may use this euphemism, I'll prefer the truth, which is that they are flat out liars.
I have no interest in the truth? Once again 1.3 billion vs. 178 billion. And yet the unions are scum? If so then the bankers are exponentially larger scum than the unions. There is the truth. You seem to be the one with an issue with the truth, or at least a selective memory when it comes to whom has been bailed out at the taxpayers expense. Neither should have been, but it only seems to be an issue when the money goes to a corporation with a union presence.
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