GM Loans failing

rberq wrote:As the lady in the GM story said, "... it's not an apples to apples comparison.” True. It's a "liars use statistics" comparison.

If GM is giving out loans to people the other companies aren't then of course it isn't an apples to apples comparison, that is the point though isn't it?

According to the article, in the end the government might -- MIGHT -- lose as much as $5 billion

Short term the bail outs worked but (and it's big but) the bail outs were not a very good precedent to set. There has to be consequences for failure in a capitalistic system, without consequences what is to prevent these companies and banks from going down the same road again?

Richard S. wrote:There has to be consequences for failure in a capitalistic system, without consequences what is to prevent these companies and banks from going down the same road again?

That's what proves that the system works and that government is the solution. It's the ugly consequences of capitalism that must be eliminated in order to reach the promised land, and only the Government has the knowhow and the tools (I.E., the visionary, productive, and achieving citizen/slaves [the 1%], and the dumbed down drones and worker bees [the 99%]) required to accomplish the task. All it takes is more and more centralized control (NDAA, Homeland Security, Patriot Act, militarized police, etc...) and taxation (the more progressive the better) and debt and money fabrication from thin air. It's all very simple. The roll model is pre-WWII Germany and Italy. It is their vision and system that politicians since Franklin D. Roosevelt have held (drooled over and worshiped) as the ideal model. The engine of success is Fascism (national socialism).

Yes, the luny left is at it again. " We would be swimming in jobs if it just weren't for those nasty 1% investing overseas" - typical clueless qualitative statements from the mentally impaired. We just need more taxes and spending and more debt.

If the ten year t-bill returned to it’s historic level of paying 5-6% (and it has to long term) the interest on the 17 trillion dollar national debt would more than consume every dollar the federal government brings in tax receipts. In simple terms pay the debt service and TOTALLY shut down the federal government to include Social Security, Medicare, Food Stamps, defense everything or default on the debt. Now seeing as the federal government borrows more than 40 cents out of every dollar it spends this is known as the classical rock and a hard place. You can't argue with a crazy and I have given up trying. Thx to Sam and the crazy left we are now at the point of no return. Debt service costs are now too great to recover from in the long term. Might as well let them spend us into Armageddon as now over 50% just want to bleed us dry. So another 200 year old democracy dies. Move on, nothing to see here. The luny left have worked out how to vote themselves other peoples money and they will never vote for a balanced budget pol.... I can't wait for the I blame Bush reply - yawn. Even CNN gets it:

http://money.cnn.com/2013/03/01/news/ec ... ng-saving/

I for one keep hearing about this "fiscal cliff" we will go over if the Gov. does not come to agreements on what to do. The fiscal cliff shouts out these horrors will occur if the Gov. does not print more money...

(About $110 billion in spending cuts divided equally between the military and most other federal departments. That’s about 8% of their annual budgets, 9% for the Pentagon.Hitting the national economy with that double whammy of tax increases and spending cuts is what’s called going over the fiscal cliff. If allowed to unfold over 2013, it would lead to recession, a big jump in unemployment and financial market turmoil, economists predict.)

I for one hope we go over this cliff with epic speed! The fact is we all have a budget, we live everyday making choices to not buy this and to suffer with that (Example: I want a backhoe but cant afford one, I want to eat to tenderloin with asparagus and baked potato once per week, I want my daughter to go to Harvard and I also want to simply turn the dial on the wall when i need heat)...the fact is I dont do these things because I cant afford them!!!

The Gov. apparently does not have this problem because they just print more money as they need it (like friggin' counterfeiters) or the borrow money from China (who will gladly enjoy owning our fine country someday). Its absolute BS! I want to hit this cliff... I want our Military to come home if we cant afford to take care of and protect every other country in the world (and clearly we CANT at this point), I want the fed employee's to be layed off and forced to get real jobs in the private sector, I want people who have been collecting UN-employment for more then 6 months to be required to come off it period!, I want ALL these things the say will happen IF the Gov does not come to an agreement!

The fiscal cliff scares me NOT... let it come baby!

Thanks for the mention there CN, I knew somehow I was at fault. Having taken over the POTUS position when the country was real close to beginning to pay down debt & doing nothing but reversing that trend for 8 years. Never mind my mistake, wrong POTUS.

samhill wrote:Thanks for the mention there CN, I knew somehow I was at fault. Having taken over the POTUS position when the country was real close to beginning to pay down debt & doing nothing but reversing that trend for 8 years. Never mind my mistake, wrong POTUS.

Remaining hung up on the clearly contrived left/right paradigm will not solve anything. Breaking the bonds of the false left/right paradigm (contrived and foisted upon us by equally the left and the right) at least offers the potential for solving things. It depends upon which path one chooses once one frees oneself from the imposed prison of the left/right ("meet the new boss, same as the old boss", resulting in "all in all we're just another brick in the wall") paradigm.

lsayre wrote:GM's policy of granting auto loans to those who can't honestly qualify for them has made the resurrected GM a huge success. Ford struggled in the last quarter by comparison. Doesn't this clearly prove beyond any remaining level of doubt that it is far better to grant loans to anyone regardless of their credit history or their income? GM is paving the way to the recovery of the entire nation. When the name of the game is growth, doing whatever it takes to achieve the goal is right and moral and just. Let us all bow in awe of GM's government guided and directed genius. If every US corporation could operate just like GM the world would be a far better place, and the USA would once again be the undeniable king of the world hill.

Say What Are they even paying back the bailout ( the peoples money ) back??????

Got to go along with everything old being new again, it's so easy to criticize without looking back or offering any solution. I believe it was Ben Franklin that said, " Any fool can criticize, condemn & complain & most do".

Who said it's eassier to fool a man then to convince him he has been fooled ?

theo wrote:Who said it's eassier to fool a man then to convince him he has been fooled ?

Mark Twain.

Goes right along with one of my favorites.

“None so blind as those that will not see.”
Matthew Henry (1662-1714)
English Presbyterian minister and writer

Don't forget Proverbs 17:28

Even a fool, when he holds his peace, is counted wise: and he that shuts his lips is esteemed a man of understanding.