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Obama Proving $418 Billion Bailout No Failure as GM Buys

Bloomberg -- The U.S. Treasury’s plan to sell its remaining 32 percent stake in General Motors Co. (GM) is a leap forward for the Obama administration’s effort to end a $418 billion bailout program that in four years was transformed from a political albatross to a winning campaign issue.

The decision to exit GM within the next 15 months, and the Treasury’s sale last week of its remaining shares of insurer American International Group Inc. (AIG), will erase two corporate symbols of the 2008 financial crisis from the government’s Troubled Asset Relief Program. Taxpayers spent $182.3 billion on AIG and $49.5 billion to rescue GM.


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Submitted Dec 25, 2012 By: GasPasserAB
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Obama Proving $418 Billion Bailout No Failure as GM Buys Back to Topics
REPLIES (newest first) Post a Reply
StArrow68
Champion Author Oakland

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Message Posted: Dec 29, 2012 2:29:55 PM

Thinking GM would disappear is wishful at best. The only thing that got saved was the Unions. GM would have survived with a lower cost structure and same for the suppliers.
honda0105
Champion Author Tallahassee

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Message Posted: Dec 29, 2012 7:00:40 AM

thanks LeEC :)
LetemEatCake
Champion Author Oklahoma City

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Message Posted: Dec 28, 2012 9:19:16 PM


Well said Honda0105 and Sneakers!
honda0105
Champion Author Tallahassee

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Message Posted: Dec 28, 2012 6:43:18 AM

Sneakers: I agree. Money well spent.
virostek
Veteran Author Virginia

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Message Posted: Dec 27, 2012 6:07:01 AM

OK.
virostek
Veteran Author Virginia

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Message Posted: Dec 27, 2012 6:06:49 AM

OK.
Sneakers55
Champion Author Houston

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Message Posted: Dec 27, 2012 3:58:11 AM

On Dec 27, 2012 3:41:18 AM, NedW wrote:

>Tax payer dollars were spent.

Taxpayer dollars would have been spent if Government Motors would have collapsed. Especially if the suppliers also collapsed and took Ford with them. That was a very real concern back in 2008 when Bush-43 was President and the whole economy was in free-fall.
NedW
Champion Author Indianapolis

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Message Posted: Dec 27, 2012 3:41:18 AM

Tax payer dollars were spent. GM should not be allowed to buy those shares back at a loss to the U.S. tax payer.
52MPG
Champion Author Dayton

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Message Posted: Dec 26, 2012 11:32:14 PM

Hopefully GM will survive on there own.
LetemEatCake
Champion Author Oklahoma City

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Message Posted: Dec 26, 2012 9:42:57 PM


All righty then Jumpmaster82...Boycott GM???? You sound like every stereotypical vision of NC. How many jobs are you planning to lose in the US? Then ask yourself...can we afford it????
vandamme
Champion Author New York

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Message Posted: Dec 26, 2012 9:32:51 AM

It helped Obama get reelected, and you paid for it.
ClarkSC
Champion Author South Carolina

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Message Posted: Dec 26, 2012 8:58:59 AM

Another failure.
peabeax55
All-Star Author Atlanta

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Message Posted: Dec 26, 2012 8:04:51 AM

It was a failure from an investment standpont.
At least Lee Iacocca paid his loan back in full.
I never bought a GM product in my 60 years of life
but was forced to lose money on this deal through tax dollars hard at work.
oilfreak
All-Star Author Houston

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Message Posted: Dec 26, 2012 7:27:34 AM

That's why in the long run, big government is a pain in the consumers' back.
Ray_10589
Champion Author New York

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Message Posted: Dec 26, 2012 12:46:53 AM

What about the taxpayer?
danindenver
Champion Author Denver

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Message Posted: Dec 26, 2012 12:09:18 AM

It wasn't a failure for Obama.

He got what we paid for.

skb69sa
Champion Author San Antonio

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Message Posted: Dec 26, 2012 12:08:46 AM

GM is now better than what it was 4 years back.
Jeff4U
Champion Author Atlanta

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Message Posted: Dec 25, 2012 11:41:32 PM

A bunch of crap! GM still owes around 24 billion taxpayer dollar!
How is this a bargain or a winning campaign issue? Oh... because liberals can't tell the difference between fact and fiction... I almost forgot.
crreed1
Champion Author West Virginia

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Message Posted: Dec 25, 2012 11:23:52 PM

ok
Jumpmaster82
Champion Author South Carolina

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Message Posted: Dec 25, 2012 11:17:59 PM

Taxpayers will still lose $billions and GM will lose a lot of customers that will never forget. Boycott GM.
TRAIN RIDER
Champion Author San Bernardino

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Message Posted: Dec 25, 2012 11:17:31 PM

Only problem is that when they sell the stock they will lose money on it and so will the US taxpayers. It seems that no matter what Obama does we lose.
GLCSHADOW
Champion Author Oregon

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Message Posted: Dec 25, 2012 11:17:28 PM

Not a failure? Selling back at half the price does not look like a success to me.
cheapchickKY
Champion Author Lexington

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Message Posted: Dec 25, 2012 11:15:50 PM

It seems not repaying loans is becoming the American way.
iFueler
Champion Author Durham

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Message Posted: Dec 25, 2012 11:15:48 PM

headline on old news a little different from other financial articles

[Edited by: iFueler at 12/26/2012 12:17:37 AM EST]
jcdakota
Champion Author Baltimore

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Message Posted: Dec 25, 2012 11:12:50 PM

Why do we need to bail out American businesses any way?
boatfloyd
Champion Author Jacksonville

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Message Posted: Dec 25, 2012 11:12:24 PM

I'm staying out of GM stock.
7SPEEDY7
Champion Author Flint

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Message Posted: Dec 25, 2012 11:11:48 PM

Good
TxMtb
Champion Author Ohio

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Message Posted: Dec 25, 2012 11:11:28 PM

Geesh, they still haven't paid it back.
bhb2009
Veteran Author Flint

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Message Posted: Dec 25, 2012 11:10:37 PM

did Obama help or hinder
UpSol7
Champion Author Augusta

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Message Posted: Dec 25, 2012 11:08:54 PM

Good news
MRED3
Champion Author Jacksonville

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Message Posted: Dec 25, 2012 11:07:50 PM

I would like to see my cut.
confetti
Veteran Author Tampa

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Message Posted: Dec 25, 2012 11:07:17 PM

What about the stockholders who were cheated out of their investments? I bet they still don't consider that fiasco a success.
ricebike
Champion Author New Jersey

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Message Posted: Dec 25, 2012 11:06:45 PM

ok
joel27nc
Champion Author Raleigh

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Message Posted: Dec 25, 2012 11:05:39 PM

Seems to have failed to me.
John747
Champion Author Chicago

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Message Posted: Dec 25, 2012 11:04:35 PM

President Obama bailed out the UAW - not GM and Chrylser.
cheaper0ON
Champion Author Ontario

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Message Posted: Dec 25, 2012 11:03:20 PM

Whatever.
wkb03
Champion Author Georgia

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Message Posted: Dec 25, 2012 11:02:11 PM

Old news
Tiernan
Champion Author Chicago

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Message Posted: Dec 25, 2012 11:01:55 PM

Winning campaign issue? No comment..
nztyraider
Champion Author Nevada

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Message Posted: Dec 25, 2012 11:01:06 PM

All Obama's rich friends bought those tax deductible cars.
NO_SWEAT
Champion Author Toronto

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Message Posted: Dec 25, 2012 11:00:11 PM

Whatever
mstearno
Champion Author Dayton

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Message Posted: Dec 25, 2012 10:57:08 PM

how would this be good for OBAMA
OH yeah I forgot he always tells us how it could have been worse
tutaw
Champion Author Kentucky

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Message Posted: Dec 25, 2012 10:55:48 PM

really?
mia3bxs
All-Star Author Miami

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Message Posted: Dec 25, 2012 10:53:17 PM

If everything pans out in the end as planned, then good for Obama.
mstearno
Champion Author Dayton

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Message Posted: Dec 25, 2012 10:52:14 PM

end it with a huge loss
What do you expect from a community organizer.
How did he ever get re elected?
CCLighthouse
Champion Author Hartford

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Message Posted: Dec 25, 2012 10:48:35 PM

We will see if it gets executed.
DYSKYPILOT
Champion Author Fort Worth

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Message Posted: Dec 25, 2012 10:48:08 PM

ok.
bhb2009
Veteran Author Flint

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Message Posted: Dec 25, 2012 10:45:21 PM

was this really obama plan...
The_DR
Champion Author New Jersey

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Message Posted: Dec 25, 2012 10:41:52 PM

merry xmas
homespesial
All-Star Author Seattle

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Joined:Oct 2012
Message Posted: Dec 25, 2012 10:41:50 PM

interesting
HailstormCA
Champion Author San Diego

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Message Posted: Dec 25, 2012 10:40:46 PM

It's still to be done. And let's not have it done at a loss to the American people.
Alaydown
Champion Author Los Angeles

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Message Posted: Dec 25, 2012 10:39:35 PM

The bottom line is that the taxpayers lost billions on the deal, and GM is worse off than it would have been had the US Treasury not bailed them out.
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