2020...

Bruddah IZ said:
I’ve abandoned free market principles to save the free market system.--George Bush

In other words, he abandoned Main Street to rescue Wall Street.
Click to expand...
Don't they all. What, you said something sensible? Impossible.
 
Lion Eyes said:
I can't help it if you choose to skip posts that prove you wrong...nice try indeed.
Let me repeat from page 128 of this thread.

Yes Bush working with the Obama transition team approved the bailout, then when Obama awarded the money he stipulated certain things like firing the CEO & the now discontinued Chevy Volt...
Obama took over GM and saved the UAW. Which was a large part of GM's problem and a huge contributor to the Obama campaign.

from US News & World Report:
For Obama, the bailout of GM was an opportunity to suggest that government intervention in the private economy, if it's done right, can be a good thing and to present himself as a chief executive who cared, in contrast to the messaging flowing out of his campaign about his GOP opponent, former Massachusetts Gov. Mitt Romney.

But it turns out the American people may have been sold a bill of goods, that the so-called bailout of Chrysler and GM was more about saving the once all-powerful United Auto Workers' union than it was about bringing the companies back to profitability. It's a story that ranges from the slime to the ridiculous that should, as several recent news accounts suggest, be looked at more closely.

One is a story that ran in the October 14 edition of USA Today that said GM had "boosted prices of its redesigned 2014 full-size pickups $1,500 – enough to pay for a $1,500 rebate currently offered on most models." The scheme is so bizarre on its face that it sounds like it could only have sprung from the mind of one of the automakers' Washington overlords during the period immediately following the bailout.

from AP-CNBC
President Obama asserted unprecedented government control over the auto industry Monday, rejecting turnaround plans from General Motors and Chrysler and raising the prospect of controlled bankruptcy for either ailing auto giant.
In an extraordinary move, the administration forced the departure of Rick Wagoner as CEO of General Motors over the weekend, and implicit in Obama's remarks was that the government holds the ability to pull the plug on that company or Chrysler.
The Bush administration late last year approved $17 billion in federal funds to help GM and Chrysler survive. It also demanded both companies submit restructuring plans that the Obama administration would review.
Even as he pronounced their effort unsatisfactory, the president said the administration will offer General Motors "adequate working capital" over the next 60 days to produce a reorganization plan acceptable to the administration.
Click to expand...

You just confirmed my statement, pointing out your error. Bush approved the bailout and gave them the money while he was president and Obama wasn't. Tough for you to swallow, huh?
 
messy said:
Don't they all. What, you said something sensible? Impossible.
Click to expand...
When you explain the difference between bankruptcy and bailouts then argue the difference between the two, which you've done repeatedly, things become quite impossible for you people to reconcile.
 
messy said:
You just confirmed my statement, pointing out your error. Bush approved the bailout and gave them the money while he was president and Obama wasn't. Tough for you to swallow, huh?
Click to expand...
I said Bush approved the bailout a couple a weeks ago. Never said otherwise. Bush approved loaning GM money. Obama took over GM. See the difference?
What you ignore is that Obama rejected the reorganization plan submitted by GM, and in unprecedented action, fired the CEO and put stipulations on GM, including among other things, ordering the manufacture of the Chevy Volt.
"In an extraordinary move, the administration forced the departure of Rick Wagoner as CEO of General Motors over the weekend, and implicit in Obama's remarks was that the government holds the ability to pull the plug on that company or Chrysler."
You also ignore, according to US News & World Report, "the so-called bailout of Chrysler and GM was more about saving the once all-powerful United Auto Workers' union than it was about bringing the companies back to profitability"....
 
Lion Eyes said:
I said Bush approved the bailout a couple a weeks ago. Never said otherwise. Bush approved loaning GM money. Obama took over GM. See the difference?
What you ignore is that Obama rejected the reorganization plan submitted by GM, and in unprecedented action, fired the CEO and put stipulations on GM, including among other things, ordering the manufacture of the Chevy Volt.
"In an extraordinary move, the administration forced the departure of Rick Wagoner as CEO of General Motors over the weekend, and implicit in Obama's remarks was that the government holds the ability to pull the plug on that company or Chrysler."
You also ignore, according to US News & World Report, "the so-called bailout of Chrysler and GM was more about saving the once all-powerful United Auto Workers' union than it was about bringing the companies back to profitability"....
Click to expand...
This guy chooses see things through Liberal tinted glasses..
 
Lion Eyes said:
I said Bush approved the bailout a couple a weeks ago. Never said otherwise. Bush approved loaning GM money. Obama took over GM. See the difference?
What you ignore is that Obama rejected the reorganization plan submitted by GM, and in unprecedented action, fired the CEO and put stipulations on GM, including among other things, ordering the manufacture of the Chevy Volt.
"In an extraordinary move, the administration forced the departure of Rick Wagoner as CEO of General Motors over the weekend, and implicit in Obama's remarks was that the government holds the ability to pull the plug on that company or Chrysler."
You also ignore, according to US News & World Report, "the so-called bailout of Chrysler and GM was more about saving the once all-powerful United Auto Workers' union than it was about bringing the companies back to profitability"....
Click to expand...
The feds don’t have that power. Unless you’re saying that such power was given as part and parcel of Bush’s loan?
 
messy said:
The feds don’t have that power. Unless you’re saying that such power was given as part and parcel of Bush’s loan?
Click to expand...
Obama on power in DC: "I've got a pen, and I've got a phone."
Right...Bush said "Hey Barry, if you don't like the reorganization submitted by GM, just fire the CEO and you decide what is right and proper, then have the government run the company as you see fit."

"In an extraordinary move, the administration forced the departure of Rick Wagoner as CEO of General Motors over the weekend, and implicit in Obama's remarks was that the government holds the ability to pull the plug on that company or Chrysler."
 
You must log in or register to reply here.
Back
Top