GM bailout so successful that Treasury Dept doesn't want to eat billions in losses - RC Groups
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Sep 17, 2012, 11:35 AM
Tu ne cede malis
MtnGoat's Avatar
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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.

Quote:
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...
Sep 17, 2012, 11:37 AM
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UlteriorModem's Avatar
There too big to flail.
Sep 17, 2012, 11:45 AM
Registered User
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?
Sep 17, 2012, 12:11 PM
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DaveG's Avatar
The Dear Leader should just stop the charade and make GM part of the Department of Transportation. Capitalism.... baaaaaaaahhhhddddd!

Sep 17, 2012, 12:13 PM
LcJ
LcJ
Forever TMWT Pilot #11
LcJ's Avatar
Quote:
Originally Posted by Gooroo
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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Sep 17, 2012, 01:57 PM
It's 5 O'clock Somewhere
RumRunner_1492's Avatar
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.
Sep 17, 2012, 02:04 PM
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Indiana_Geoff's Avatar
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!
Sep 17, 2012, 02:14 PM
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saltyzoo's Avatar
This has to be a right wing lie. I mean, GM already paid everything back and is doing great. *cough*
Sep 17, 2012, 05:33 PM
Thanks for the Fish!
aerogel's Avatar
Quote:
Originally Posted by saltyzoo
this has to be a right wing lie. I mean, gm already paid everything back and is doing great. *cough*
heh!
Sep 17, 2012, 05:36 PM
SUPERDOG!
BE77 Pilot's Avatar
How about a bumper sticker that says, Ben-laden is dead and GM soon will be.
Sep 17, 2012, 07:26 PM
Alarm Bells Softening!
Big Foot 48's Avatar
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.
Sep 18, 2012, 05:26 AM
56S
56S
Certified Balsa Breaker
56S's Avatar
Quote:
Originally Posted by BE77 Pilot
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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