Thread: Obama's UAW bailout losses increase $9 BIL to $23 BIL

all peanuts compared to the trillions in wealth permanently transferred from the housing bubble crash from equity holders to bond holders which was 100% the fault of the GOP.

your pathetic attempts at union bashing is just further affirmation of your utter lack of knowledge about economics in the real world and the OECD.

Originally Posted by Big Pimpin

Seems like those Wall St protestors should protesting in DC and Detroit.

Originally Posted by LAM

all peanuts compared to the trillions in wealth permanently transferred from the housing bubble crash from equity holders to bond holders which was 100% the fault of the GOP.

Great! We have some agreement.

Way too much money is being lost everywhere....

my father who is a die hard republican said it the best, republicans believe in corporate welfare and bailing out joe the hedge fund manager and democrats believe in individual welfare and bailing out joe the auto worker.......

Originally Posted by bandaidwoman

my father who is a die hard republican said it the best, republicans believe in corporate welfare and bailing out joe the hedge fund manager and democrats believe in individual welfare and bailing out joe the auto worker.......

That's kinda true. I mean there's no shortage of dems handing out corporate welfare either though. It kinda leaves the far right nut jobs like me out who believe in welfare for no one.

I've benefitted from welfare programs when my father was a POW for 11 yrs and we are all successful business folks contributing back to the system that helped us out. My brother was homeless on medicaid in the midst of his bipolar delustional state but now is making high six figures as an international consultant so we all feel a system without some kind of safty net results in a society like calcutta or agricultural china where there is absolutely no chance of upward social mobilityfor those of us born poor. Of course we need to find the right mix.

Originally Posted by LAM

all peanuts compared to the trillions in wealth permanently transferred from the housing bubble crash from equity holders to bond holders which was 100% the fault of the GOP.

your pathetic attempts at union bashing is just further affirmation of your utter lack of knowledge about economics in the real world and the OECD.

And you're supposedly so goddamn book smart, yet every economic problem in this country which you choose to discuss is always the fault of the GOP. You're nothing but simple partisan hack. At least I have the sense to know both the DNC and the RNC sold our asses out. Keep living in your little DNC utopia wherever that is.

in terms of investment , a measly 23 billion dollars to save 1 million jobs, seems like a good investment. How many jobs did the TARP bailouts by the republicans save? TARP, of course, was easy to hate: a $433 billion bailout for rich investment bankers who had driven the economy off the cliff. I think GM and other auto companies have finally learned the lesson that they can't be money funds only, they got to compete like any other company. THis wasn't just heres the money and don't pay us back , it was here's the money and pay us back. It looks like us taxpayers got back at least half of what we poured into GM to help its bailout. I may have the math all wrong, sorry.

Perhaps the motto they were too big to let fail ( applied to the TARP funds) also apply to the big 3 car companies.

Originally Posted by Vibrant

Way too much money is being lost everywhere....

bond holders run the US now. they are raking in billions annually on interest after buying short-term US treasuries with "borrowed" money from the Fed loaned out at 0%. taxpayers paying for interest to pay profits to the people (banks, etc.) that caused and profited from the housing bubble and banking collapse...talk about getting completely ass raped. austerity measures being forced upon the working class to pay for a recession that robbed them of trillions.

Originally Posted by Big Pimpin

And you're supposedly so goddamn book smart, yet every economic problem in this country which you choose to discuss is always the fault of the GOP. You're nothing but simple partisan hack. At least I have the sense to know both the DNC and the RNC sold our asses out. Keep living in your little DNC utopia wherever that is.

LAM is not a hack, he is very learned but a true hater of the GOP that is for sure. I respect his opinions and unlike many he does do his research even if some of what he uncovers I don't necessarily agree with. You have to understand that he is for unions because they have protected workers wages and with the decline in unions wages have gone down. Do I agree with unionizing America, no, do I agree getting fucked over by my company and any other one I work for, hell no. The auto bailout saved an industry and so many jobs in already depressed areas, it was a political goldmine to do so and the dems love unions so big surprise. I would have done it even though the UAW is part of the reason GM/Ford/Chrysler went down so far.

Funny thing is people will support the bailing out of the average worker, who wouldn't it makes great TV and I feel for those that are getting screwed by a few, but if this was the oil industry or coal it would have gotten no support. Even though that would have shut down the energy generation industry in half the country and killed our transportation it would have been uproar against it. I just find this ironic even though it is a bit of a ridiculous example as it would never happen by the way.

Originally Posted by Big Pimpin

And you're supposedly so goddamn book smart, yet every economic problem in this country which you choose to discuss is always the fault of the GOP. You're nothing but simple partisan hack. At least I have the sense to know both the DNC and the RNC sold our asses out. Keep living in your little DNC utopia wherever that is.

the GOP's economic policy's cause recessions, this is an economic fact and what all the empirical data shows distinct trends over the decades. 9 out of 10 recessions in recent US history have happened after economic policy implemented by the GOP. recessions cause permanent wealth transfers from equity to bond holders along with increasing the rates of acquisitions and mergers this is economics 101 and US economic history.

the GOP of the early 20th century is dead, the new radical GOP has it's mind set on turning back the hands of time and destroying the middle class in America.

Corporations don't pay taxes, they collect them for the government from people. A corporation is just a tool. Do you ask your car or your lawn mower to pay taxes? Corporate taxes are passed on to the consumer. -Walter Williams

Originally Posted by irish_2003

Corporations don't pay taxes, they collect them for the government from people. A corporation is just a tool. Do you ask your car or your lawn mower to pay taxes? Corporate taxes are passed on to the consumer. -Walter Williams

Williams follows a lot of libertarian beliefs which means his views are surely not all reality based. self-regulation of people and the markets means total disregard for human nature and century's of research on sociology and psychology, which is pure delusion and lunacy.