The Surge Worked- Now Admit the GM thing is Looking Good...

[Geo]

I opposed the surge. It seems it worked. And while I will always believe invading Iraq was a major mistake of George Bush's, I acknowledge that he made the right call on the surge.

So-

How's about some resident righties step up and acknowledge that the GM bailout was less of a socialist takeover and more of what appears to be a wise move on Obama's part and a success story in the making for Americans in an otherwise brutal economic period.

Obama Hails G.M. 'Success Story' - NYTimes.com

Shopper? Idlewind? Andy? Walk the Walk?

 

[30ashopper]

Confucius say, "Bailouts are like dominos, there's always one right after the other ready to fall."

 

[Geo]

Confucius say, "Bailouts are like dominos, there's always one right after the other ready to fall."

How profound. Not willing to admit that at least the GM bailout is looking like one that is working out.

Look- I opposed the GM bailout like I did the surge. But I can admit it looks like I was wrong about both.

I figured you'd be the conservative who'd bless the GM bailout in hindsight...

 

[CampCreekLou]

Confucius say, "Bailouts are like dominos, there's always one right after the other ready to fall."

Exactly, bailouts are a bad idea.

But, going ahead and answering the question, no, you can't say it was a good idea. The stock is trading at $34, and breakeven for the taxpayer is over $133.

Government's break-even price for GM: $133.78 - Business - Autos - msnbc.com

 

[LuciferSam]

How profound. Not willing to admit that at least the GM bailout is looking like one that is working out.

Look- I opposed the GM bailout like I did the surge. But I can admit it looks like I was wrong about both.

I figured you'd be the conservative who'd bless the GM bailout in hindsight...

For some if it's bad in theory, it's bad period, practical considerations be damned.

 

[Geo]

Exactly, bailouts are a bad idea.

But, going ahead and answering the question, no, you can't say it was a good idea. The stock is trading at $34, and breakeven for the taxpayer is over $133.

Government's break-even price for GM: $133.78 - Business - Autos - msnbc.com

I'm not so much saying it was a good idea as I am saying that it is looking like it is working out-

compared to if we lwould have let GM die.

You are only comparing the dollar amount we gave paid to the current share price of the stock. You're not considering the harm to the economy we would have seen if GM was left for dead. You're also not considering that GM is positioned to raise revenue (I believe it is still an option to pay back taxpayers in addition to us selling our stock).

Perhaps my post was premature. Time will tell but so far so good from what I am seeing.

 

[30ashopper]

How profound. Not willing to admit that at least the GM bailout is looking like one that is working out.

Look- I opposed the GM bailout like I did the surge. But I can admit it looks like I was wrong about both.

I figured you'd be the conservative who'd bless the GM bailout in hindsight...

No I don't. short term, sure the comany survived, but long term, it sets up the next set of taxpayer bailouts.

http://uspolitics.about.com/od/economy/a/chryslerBailout.htm

It all started with Chrysler. Once the precedent was set, these companies knew they could come for help when ever they needed it. They also took this as an excuse to mismanage their companies and exploit their bottom line for personal gain.

And now the precedent has been reaffirmed. You don't have run a car company efficiently, you don't have to worry about racking up massive debts, you don't have to worry about exorbitant pay and benefits, you don't have to worry about failing, because you own the politicians who run the country.

The even bigger "Too Big To Fail" banks now know this too. Hazaah!

 

[Bob]

nothing here but union hate. keep talking around your animosity.

 

[futurebeachbum]

The biggest problem with the surge is that we should have never been there in the first place.

I'd say the jury is still out on the bailout.

The government bailed out Chrysler in the late 70's and it didn't stick. Everyone proclaimed it a great success (and it was far less catastrophic a bailout than GM had.) Less than 20 years later they were on the block being sold to Daimler. From there it was all downhill to the next bailout. Plus, Chrysler actually paid back all of the bailout money to the government. GM already wrote off billions of bail-out debt in the bankruptcy. The government will never get that money back.

I guess the lesson is that our country will not let 'too big to fail companies fail' and instead will just keep bailing them out. I'm pretty sure that the current management of GM is aware of that.

 

[30ashopper]

nothing here but union hate. keep talking around your animosity.

I wasn't pin pointing the unions in my post.