Blue48
Champion Author
Illinois
Posts:4,960
Points:1,172,120
Joined:Feb 2007
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Message Posted: Mar 11, 2010 4:47:41 PM
OK??
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JXQW
Champion Author
Kansas City
Posts:2,103
Points:514,370
Joined:Jul 2008
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Message Posted: Mar 11, 2010 9:02:21 AM
not again, please ...
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WyrelessMike
All-Star Author
Little Rock
Posts:991
Points:426,570
Joined:Aug 2008
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Message Posted: Mar 11, 2010 8:50:19 AM
I think it may be important to note that GM divested itself of GMAC. GMAC is not an automaker.
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WyrelessMike
All-Star Author
Little Rock
Posts:991
Points:426,570
Joined:Aug 2008
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Message Posted: Mar 11, 2010 8:44:13 AM
I guess we can all say we "lost another loan to ditech."
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BigdaddyMA
Sophomore Author
Massachusetts
Posts:163
Points:154,070
Joined:Oct 2008
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Message Posted: Mar 11, 2010 8:41:05 AM
Guess we should have stuck to something we were good at like invading 3rd world countries!!!!!!
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ModelWarships
Champion Author
Missouri
Posts:4,220
Points:918,180
Joined:Jul 2008
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Message Posted: Mar 11, 2010 8:36:34 AM
WE already paid to prevent GMC from going bankrupt, only to have them go bankrupt a couple of months later. If GMAC can't make money, let them fail. Don't pump money into a losing business. We can't afford it.
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texasvet
Champion Author
Texas
Posts:2,315
Points:261,900
Joined:Jul 2009
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Message Posted: Mar 11, 2010 8:34:40 AM
If GMAC had stuck with car loans, they wouldn't be broke. On the other hand, the government has no business running, bailing out, or financing car companies, either.
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techque
Champion Author
St. Louis
Posts:6,373
Points:1,991,060
Joined:Apr 2005
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Message Posted: Mar 11, 2010 8:33:37 AM
still waiting for my bailout !@!
instead of paying for everybody elses.
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yukonjack
Champion Author
Georgia
Posts:5,123
Points:1,466,625
Joined:Oct 2004
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Message Posted: Mar 11, 2010 8:31:30 AM
Maybe if GMAC goes bankrupt I won't have to pay my car note. :)
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Hunter114
Champion Author
Chicago
Posts:5,535
Points:992,935
Joined:Apr 2009
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Message Posted: Mar 11, 2010 8:29:41 AM
GMAC should have went bankrupt two years ago. The administration should have never gotten taxpayer money in this mess.
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thirstyauto
Champion Author
Milwaukee
Posts:10,597
Points:1,152,550
Joined:Nov 2008
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Message Posted: Mar 11, 2010 8:28:10 AM
It's bad enough that the government randomly takes what ever amount of MY money they deem necessary, but do they have to spend it so foolishly!!!
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Jizme
Champion Author
Lincoln
Posts:7,519
Points:2,439,120
Joined:Oct 2004
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Message Posted: Mar 11, 2010 8:27:16 AM
Isn't that the same thing? The company board is the government and GMAC stands for Government Motor Automaker Corporation. Sounds like the same thing to me.
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gilfarm
Champion Author
Alabama
Posts:4,616
Points:1,504,990
Joined:Sep 2005
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Message Posted: Mar 11, 2010 8:27:02 AM
That is a lot of money!
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FlyNFool
Champion Author
South Carolina
Posts:5,955
Points:1,222,280
Joined:Aug 2008
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Message Posted: Mar 11, 2010 8:26:48 AM
It's Obamas fault!
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seeyardee
Champion Author
Sacramento
Posts:6,854
Points:1,343,320
Joined:Apr 2008
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Message Posted: Mar 11, 2010 8:24:50 AM
6.3 billion? What is that, about 36 hours funding the 2 wars that Bush got us into?
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spunky4443
Champion Author
Washington
Posts:4,756
Points:1,215,915
Joined:May 2005
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Message Posted: Mar 11, 2010 8:24:24 AM
If there had been a Public vote on the subject, there would be no GM or GMAC.
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Zonk
Champion Author
Michigan
Posts:4,127
Points:1,638,100
Joined:Oct 2005
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Message Posted: Mar 11, 2010 8:23:36 AM
obama motors will stick it to the taxpayers once again.
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LilRedWagonIN
Champion Author
Indiana
Posts:5,416
Points:1,104,850
Joined:Oct 2008
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Message Posted: Mar 11, 2010 8:23:29 AM
And GM just said they were paying back the loan with interest. Think Chrysler will? Think GMAC will? Think all the banks, insurance companies, and every other Tom, Dick, and Harry will?
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Wolfwings
Champion Author
Delaware
Posts:6,403
Points:1,313,190
Joined:May 2004
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Message Posted: Mar 11, 2010 8:22:02 AM
No big surprise, given that O-BUMMER, Biden and Tom Carper voted to give our Social Security raises to ILLEGAL ALIENS.
Just another BAD IDEA by the Dam-O-Craps.
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Dale Jr.
Champion Author
Illinois
Posts:13,874
Points:2,771,125
Joined:May 2004
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Message Posted: Mar 11, 2010 8:20:57 AM
I didn't want my tax money given to them in the first place.
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Bussman
Champion Author
Dallas
Posts:3,864
Points:992,595
Joined:Nov 2008
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Message Posted: Mar 11, 2010 8:18:51 AM
Wow! Couldn't have said it any better Wizrd03. Can't wait for election day when we will hopefully finally vote for "CHANGE WE CAN BELIEVE IN"!
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maske_2222
Champion Author
Manitoba
Posts:5,699
Points:1,156,665
Joined:Oct 2008
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Message Posted: Mar 11, 2010 8:18:08 AM
What would they do without the taxpayers?
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gagal31525
Veteran Author
Georgia
Posts:423
Points:377,120
Joined:Feb 2008
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Message Posted: Mar 11, 2010 8:16:22 AM
They should be require to send the money in America.
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condé
Champion Author
Michigan
Posts:2,747
Points:1,587,670
Joined:Oct 2004
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Message Posted: Mar 11, 2010 8:15:18 AM
Nothing New... the Government couldn't protect the box of screws they use on the tax payers.....
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hauler43
Champion Author
Oakland
Posts:7,139
Points:2,354,965
Joined:Sep 2003
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Message Posted: Mar 11, 2010 8:14:50 AM
Always the taxpayers.
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kyrunner
Champion Author
Lexington
Posts:6,593
Points:1,232,415
Joined:Aug 2008
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Message Posted: Mar 11, 2010 8:14:47 AM
I think it is way past time to let GMAC go bankrupt (like it should have a year ago)and let someone buy what is left. I am SO tired of taxpayer money being flushed down the crapper!
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JimL1
Champion Author
Phoenix
Posts:5,739
Points:806,475
Joined:Jul 2003
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Message Posted: Mar 11, 2010 8:14:18 AM
Bush's bush league bailout program does not work, does it? Even President Obama probably cannot fix this one.
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Goatroper
Champion Author
Dallas
Posts:4,673
Points:911,470
Joined:Apr 2004
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Message Posted: Mar 11, 2010 8:12:53 AM
I thought that Uncle Sam would be the majority stockholder and as such would get the priority dividends. Might take a couple of hundred years to get pay back though.
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KNOTTUSLIM
Veteran Author
Kansas
Posts:308
Points:569,035
Joined:Oct 2008
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Message Posted: Mar 11, 2010 8:12:18 AM
Shut down all divisions of Government Motors and cover them up.Let the winner keep on with business and quit robbing from the taxpayers.
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bobsalwaysmt
Champion Author
Long Island
Posts:3,419
Points:205,565
Joined:Oct 2007
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Message Posted: Mar 11, 2010 8:10:56 AM
Let's just keep printing money - after all, isn't that what all 3rd world countries do?
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smoketown
Champion Author
Cincinnati
Posts:3,984
Points:932,615
Joined:Feb 2008
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Message Posted: Mar 11, 2010 8:08:59 AM
Close them down, final ..............
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dabayer
Champion Author
New Hampshire
Posts:1,559
Points:392,730
Joined:Oct 2005
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Message Posted: Mar 11, 2010 8:08:53 AM
The article states,
"Treasury said a merger between GMAC and GM would be up to the companies' boards, not the government. ... The government owns 56 percent of GMAC after three separate bailouts since December 2008. The oversight panel said bankruptcy was a viable option for the finance company."
Treasury, oversight panel: On what planet are you?
If the US government owns 56%, YOU ARE THE BOARD!!!! Make it happen, its our money.
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Wizrd03
Champion Author
Illinois
Posts:5,776
Points:1,166,185
Joined:Oct 2008
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Message Posted: Mar 11, 2010 8:08:52 AM
More lies from the gov't as to what the taxpayers are being put on the hook for by run away federal spending. Figures lie and liars figure and the biggest liar is sitting in the white house.
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Cerberus2k
Champion Author
Phoenix
Posts:1,197
Points:1,016,940
Joined:Apr 2008
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Message Posted: Mar 11, 2010 8:08:49 AM
It was definately worth it considering the thousands of jobs that were actually created. Unfortunately for Americans those jobs were at plants in Mexico & Canada.
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misterray
Champion Author
Oregon
Posts:2,820
Points:656,685
Joined:Aug 2008
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Message Posted: Mar 11, 2010 8:07:05 AM
Hasn't happened yet.
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tazdriver
Champion Author
Huntsville
Posts:4,913
Points:1,556,895
Joined:Jan 2007
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Message Posted: Mar 11, 2010 8:06:11 AM
Since they used our money, we should be the owners.
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niceguytx
Champion Author
Houston
Posts:11,407
Points:2,251,020
Joined:Sep 2005
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Message Posted: Mar 11, 2010 8:04:06 AM
If they cannot pay it back, shut them down.
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TheBruce2009
Sophomore Author
Massachusetts
Posts:140
Points:418,975
Joined:May 2009
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Message Posted: Mar 11, 2010 8:03:20 AM
Why should there be any cost to us in the end? They should simply pay it all back plus interest. If they can earn profits for themselves and their shareholders then they can certainly pay us all back for saving their bacon...
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jmg144
Champion Author
Maryland
Posts:8,332
Points:2,491,920
Joined:Jul 2004
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Message Posted: Mar 11, 2010 8:02:48 AM
lparafael thank you for the comment - government gobblygook
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NashGas
Champion Author
Nashville
Posts:2,136
Points:444,520
Joined:Dec 2009
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Message Posted: Mar 11, 2010 8:02:31 AM
No Surprise
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diatzikis
All-Star Author
Raleigh
Posts:947
Points:290,260
Joined:Jul 2008
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Message Posted: Mar 11, 2010 8:02:27 AM
Bailout, bad idea.
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bababooey2
Champion Author
Hartford
Posts:3,990
Points:836,165
Joined:Sep 2009
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Message Posted: Mar 11, 2010 8:02:22 AM
O'Bama is da man.....cough
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lparafael
Champion Author
Ventura
Posts:7,167
Points:1,227,100
Joined:Dec 2006
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Message Posted: Mar 11, 2010 8:01:03 AM
"Treasury said a merger between GMAC and GM would be up to the companies' boards, not the government."
Since the government owns 56% of GM, as also stated in the article, then the majority owner can influence the GM board to swallow up GMAC once again. It's not rocket science, this happens all the time when the majority owner says something it gets done.
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30mpg80
Champion Author
Lexington
Posts:4,486
Points:1,021,970
Joined:Nov 2008
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Message Posted: Mar 11, 2010 8:00:23 AM
How many prefer no bailouts, worldwide depression worst in history?
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braves89
Champion Author
Chicago
Posts:5,325
Points:1,165,970
Joined:Apr 2008
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Message Posted: Mar 11, 2010 7:57:08 AM
everything costs the taxpayers
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rippinusoff
Champion Author
Lexington
Posts:5,054
Points:1,022,000
Joined:May 2007
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Message Posted: Mar 11, 2010 7:56:42 AM
why? i though they were paying us back... wait... on second thought, I knew they were gonna steal our money and never pay us back.
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captngasTN
Champion Author
Tennessee
Posts:2,519
Points:900,825
Joined:Jun 2009
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Message Posted: Mar 11, 2010 7:56:37 AM
sadly, as predicted
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carrollcreek
Champion Author
Minnesota
Posts:2,962
Points:661,170
Joined:Jun 2008
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Message Posted: Mar 11, 2010 7:56:10 AM
My mortgage is with this company, and its crazy how they deal with their customers. If I could get out, I would.
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Retowered
Champion Author
Colorado
Posts:6,208
Points:2,218,535
Joined:May 2004
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Message Posted: Mar 11, 2010 7:55:41 AM
When can we get a government bail out??
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1006
All-Star Author
Birmingham
Posts:929
Points:1,027,620
Joined:Apr 2008
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Message Posted: Mar 11, 2010 7:54:44 AM
It's my money going for this. . where is my stock certificate?
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