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Old Sep 17, 2012, 11:35 AM
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Lyle, WA
Joined Dec 2000
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GM bailout so successful that Treasury Dept doesn't want to eat billions in losses

As much as I appreciate the sentiment Treasury folks, cut your losses now and dump that danged stock before taxpayers take an even worse loss. The mistake was bailing them out in the first place. Don't compound it by holding on to the stock as they flail their way to a second bankrupcty with us still holding the bag.

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But the newspaper said GM executives are now chafing at that, saying it hurts the company's reputation and its ability to attract top talent due to pay restrictions. Earlier this year, GM /quotes/zigman/1466682/quotes/nls/gm GM -1.26% presented a plan to repurchase 200 million of the 500 million shares the U.S. holds with the balance being sold via a public offering. But officials at the Treasury Department were not interested as selling now would lead to a multibillion dollar loss for the government, the newspaper noted.
Treasury Dept does not want to eat massive losses...
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Old Sep 17, 2012, 11:37 AM
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Joined Aug 2011
779 Posts
There too big to flail.
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Old Sep 17, 2012, 11:45 AM
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Joined Sep 2010
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Government should get out now, before it GM gets worse.

Wait a second! With government as a stockholder would it be allowed to pump in more money to raise the price of the stock before dumping it? You know, a kind of QE for GM?
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Old Sep 17, 2012, 12:11 PM
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Houston, TX, US
Joined Jun 2000
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The Dear Leader should just stop the charade and make GM part of the Department of Transportation. Capitalism.... baaaaaaaahhhhddddd!

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Old Sep 17, 2012, 12:13 PM
LcJ
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United States, LA, Monroe
Joined Mar 2003
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Originally Posted by Gooroo View Post
Government should get out now, before it GM gets worse.

Wait a second! With government as a stockholder would it be allowed to pump in more money to raise the price of the stock before dumping it? You know, a kind of QE for GM?
Q E = Quasi Economics.....(Quasi in this case can also be pronounced Qrazy!)

Many more quasis will kill what is left and right of the USA.
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Old Sep 17, 2012, 01:57 PM
It's 5 O'clock Somewhere
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Dayton, OH
Joined Feb 2006
418 Posts
There is no way Obama will let this happen until after the election. If he has to admit he lost $30 billion in taxpayer dollars there is no chance he would get elected.
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Old Sep 17, 2012, 02:04 PM
In Development Now
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Joined May 2005
448 Posts
I think the Feds should buy more stock now that it's cheaper to get a lower average price. Get a majority stake and that way the next time GM fails the Govt can use it's position to get a larger bailout and profit.



Your Welcome!
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Old Sep 17, 2012, 02:14 PM
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United States, FL, Tampa
Joined May 2008
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This has to be a right wing lie. I mean, GM already paid everything back and is doing great. *cough*
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Old Sep 17, 2012, 05:33 PM
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aerogel's Avatar
Land of cajuns
Joined Dec 2001
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Originally Posted by saltyzoo View Post
this has to be a right wing lie. I mean, gm already paid everything back and is doing great. *cough*
heh!
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Old Sep 17, 2012, 05:36 PM
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Joined May 2010
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How about a bumper sticker that says, Ben-laden is dead and GM soon will be.
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Old Sep 17, 2012, 07:26 PM
Alarm Bells Continuing!
Big Foot 48's Avatar
Arizona
Joined Oct 2001
276 Posts
Romney will sell this stock in late January and the next Democrat candidate in 2016 will be blaming the loss on Romney.

They should sell now and use the proceeds to pay for a few days of Obama Deficit Spending.
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Old Sep 18, 2012, 05:26 AM
56S
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Joined Nov 2006
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Quote:
Originally Posted by BE77 Pilot View Post
How about a bumper sticker that says, Ben-laden is dead and GM soon will be.
Or, No, The Navy Seals killed Osama and Obama killed GM.
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