GM Loans failing

Is it true that GM is doing this or just BS ? http://freebeacon.com/grand-theft-auto-loans/

Wouldn't surprise me in the least. Government + money = boondoggle - just like 1 + 1 always = 2.

When has any investment of taxpayer money ever earned a ROI?

Let me get my surprised look.

That's about the size of it. No ROI ... just LOSSES. That's how gov't rolls.

AAMTRAK ............ ahem ............ POST OFFICE ..... *COUGH* ................... damn chest cold ...

It doesn't surprise me about GM, wasn't it the government that started the sub-prime mortgage problem to begin with? Their thought that everyone should be able to own a house caused them to make loans that never should have happened, and all the banks followed suit. Now they are pulling the strings at GM, doing the same thing, giving loans to people that shouldn't get them. I heard on Glen Beck the other day that we are still helping, or bailing "Bank of America ". Most of America thought that garbage was done with. No, they just don't report it! When is the country going to get it's head out it's rear?

Not until we the 53% start making enough noise. Start writing keep writing keep letting them know how you feel. It only take a few mins a day.

SMITTY wrote: No ROI ... just LOSSES. That's how gov't rolls.
AAMTRAK ............ ahem ............ POST OFFICE ..... *COUGH* .......

As the lady in the GM story said, "... it's not an apples to apples comparison.” True. It's a "liars use statistics" comparison. According to the article, in the end the government might -- MIGHT -- lose as much as $5 billion. That's way less than Americans spend annually on Halloween. So for the price of a few candy bars, we saved GM and many of its suppliers and many, many jobs. If he had NOT saved all those jobs, you would be whining that Obama's policies didn't help, instead of whining that they did.

And since when is government supposed to make a profit? Interstate highway system -- U.S. Army, Navy, Air Force, Marines -- National Park Service -- do we expect THEM to make a profit? Follow the money -- when government provides a valuable service that somebody else would like to monopolize, like Amtrak or the Post Office, then all of a sudden your bought-and-paid-for politicians pretend the service should make a profit. When government provides a service that funnels lots of money to the owners of the politicians, like the Defense Department, then it should NOT make a profit, just get more of your money to throw into the funnel.

When one invests money in a publicly traded company it is done for a profit. If you didn't think that the company was strong enough to last would you invest your hard earned money in it? I think not! The American public's tax dollars should not be used to play the market.

The funds were used to save the automakers & as many jobs & related businesses as possible, just like with the banks then & the savings & loans decades ago. As to date the taxpayer has been doing fairly well but as always the money is just blown elsewhere.

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.

The bailouts certainly created jobs, but how many of them will remain in 5 years? Our government likes to piss into the wind ... but it's our money they're using to do so.

Then there's the whole tax thing to PAY for the bailouts. Wonder how many people "1 % 'ers" WILL NOT be hiring because of the huge tax increases? We may never know.

Then there's job-crushing obamacare .........

Smitty, those 1%ers have had those tax cuts for well over 10 years & didn't do anything but invest overseas, they could care less about America if they did we would have been swimming in jobs. Face it they are still going to get out of their fair share but at least it's a start, we got here because of the tax cuts not because they didn't have to pay. When the middle class was working, spending & paying all the tax they got away with it once the middle class lost & couldn't pay it caught up with them, when you have a strong working middle class you have a strong economy, that's the way it's always been.

I don't know about you, Sam .... but I've never taken a paycheck from a panhandler. Nor do I know of anyone in America who has.

samhill wrote:Smitty, those 1%ers have had those tax cuts for well over 10 years & didn't do anything but invest overseas, they could care less about America if they did we would have been swimming in jobs. Face it they are still going to get out of their fair share but at least it's a start, we got here because of the tax cuts not because they didn't have to pay. When the middle class was working, spending & paying all the tax they got away with it once the middle class lost & couldn't pay it caught up with them, when you have a strong working middle class you have a strong economy, that's the way it's always been.

So how is punishing business owners with higher taxes going to get a "strong middle class"?

You really have a stranglehold on 1/10 the story Sam.