.

[r3020]

Wait a minute, I thought I read on this forum where GM paid the government back and the tax payers made a nice profit. The government owns 61%? If SAIC buys it for pennies on the dollar they can just shut it down. Be one way to cut down on competition.

[hobbyfarm2145365]

If you add up over time all the govt aid paid to a farm does that farm become a govt farm!!!!!!!!!!!    heXX it doen't have to be paid back either??????????????????????????  

[bruce MN]

All put a wee small piece of what unbriddled crony market capitalism hath wrought.

http://www.nytimes.com/2010/10/03/business/economy/03gret.html?_r=1

[bruce MN]

Where did that Kudo button go?

[r3020]

What that article describes is not capitalism, it is out of control government . It is a government that demands higher taxes because THEY see no place to make cuts. Under capitalism no one is too big to fail. Under capitalism GM files for bankruptcy, the risk takers lose, and the company either restructures or is liquidated.

[Red Steele]

GM  paid back its huge loan with ...get this....another larger loan from the US govt, and then declared that they had paid off the loan ahead of schedule.

I think they accounting was if the GM stock was sold at the current market price, the taxpayers would get their dollars back...of course with the inflation inherent in the US monetary system, if  you do not double your money now in a few years, you are actually losing ground.

And if GM were to try to get rid of that 61% the share price would quite likely go to a level where we, the hard working taxpayer, actually lose money.

Saving GM was all about keeping the unions happy, and not about the best interests of the average American.

[hobbyfarm2145365]

"under capitalism NO ONE is to big to fail"   So much for capitalism when it comes to govt direct payts, govt paid crop ins, govt paid acre,sure, price supports, conservation, cost sharing programs  so called risk takers don lose  with that from capitalism. 

[kraft-t]

Actually, Gm paid back their federal debt. The US government hold the bulk of the outstanding shares and they will be sold when the government can recoup their investment. Government is not actively engaged in day to day business decisions.  Like you investing in your nonworthy business operation. Why would you do that because you want him to succeed and the folks that depend on him to succeed.

BTW. I recently was trying to negotiate a deal for a escalade. After that experience, I regret any support I may have had for the bailout. However, that experience does not pass through to employees and suppliers.

[kraft-t]

Keeping the unions and their workers happy is in our best interest. Why do you think breaking them would be in your best interest? I prefer a strong middle class with good salaries and benefits. A prosperous segment that have dollars to spend on what we produce. I do not see why you would prefer an impoverished work force.