 DigDug
God Emperor of Dune
Life Member
Joined: Nov 2001  ND, USA
 Posts: 17268 Feedback: 100% (2) |
Posted: 4/10/2009 9:00:31 PM
THE IMAGE ABOVE IS A PAID ADVERTISEMENT Fucking idiots. |
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Posted: 4/10/2009 9:05:14 PM
I don't remember, was it 15 billion? With the trillions we've been tossing at banks lately I don't even pay attention to the mere billions we throw around these days.
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Posted: 4/10/2009 9:10:28 PM
[Last Edit: 4/10/2009 9:10:51 PM by TrijiCog]
What ever happened to ShopRat ? I think he used to buff blemishes off of cars on the GM line for $40.00 an hour.
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Torf
Angry "Non-Historic" Man®
Team Member
Joined: May 2001 IL, USA
Posts: 22246 Feedback: 100% (1) Link To This Post |
Posted: 4/10/2009 9:15:59 PM
Originally Posted By DigDug: And when GM goes bankrupt (it will happen for certain) that money is gone forever. Down the rathole. Fucking idiots. Uh, it was gone down the rathole the instant it was spent, just like MOST of the money Central Planning spends. |
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Posted: 4/10/2009 9:19:02 PM
Too much
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Taxman
I'm not from the Goverment and Im not here to help
Team Member
Joined: Feb 2002 GA, USA
Posts: 44866 Feedback: 100% (30) Link To This Post |
Posted: 4/10/2009 9:19:11 PM
Who didnt see that coming?
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foxherb53
UP RIVER
Team Member
Joined: Apr 2007 WA, USA
Posts: 12284 Feedback: 0% (0) Link To This Post |
Posted: 4/10/2009 9:19:22 PM
It's only pretend money.....
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The_Macallan
"Typical White Person"
Team Member
Joined: Nov 2001 USA
Posts: 31358 Feedback: 0% (0) Link To This Post |
Posted: 4/10/2009 9:22:24 PM
[Last Edit: 4/10/2009 9:23:02 PM by The_Macallan]
It was virtual money. Potential money. Future money. Not "real" money. They didn't REALLY give them $150 billion cash - it was just an $150billion IOU. Actually it was a $150billion "my-children-and-grandchildren-OU" |
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Torf
Angry "Non-Historic" Man®
Team Member
Joined: May 2001 IL, USA
Posts: 22247 Feedback: 100% (1) Link To This Post |
Posted: 4/10/2009 9:31:27 PM
Originally Posted By The_Macallan: Boy, good thing all that extra "made up" money didn't have ANY affect on us AT ALL!It was virtual money. Potential money. Future money. Not "real" money. They didn't REALLY give them $150 billion cash - it was just an $150billion IOU. Actually it was a $150billion "my-children-and-grandchildren-OU"  |
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Posted: 4/10/2009 9:33:38 PM
Originally Posted By DigDug:
Fucking idiots. The real idiots are those who continue to buy GM products. |
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Posted: 4/10/2009 9:34:21 PM
Originally Posted By DigDug:
And when GM goes bankrupt (it will happen for certain) that money is gone forever. Down the rathole. Fucking idiots. I don't think Obama can politically afford for GM to go to bankruptcy court. The UAW has backed too much for him to allow the courts to break their contracts with GM. |
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bytor94
Redistribution Supplier (Wage Earner)
Team Member
Joined: Dec 2004 VA, USA
Posts: 11068 Feedback: 100% (3) Link To This Post |
Posted: 4/10/2009 9:37:33 PM
Originally Posted By TrijiCog: What ever happened to ShopRat ? I think he used to buff blemishes off of cars on the GM line for $40.00 an hour. He's kept a low profile since the bailouts began.  |
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Posted: 4/10/2009 9:41:04 PM
[Last Edit: 4/10/2009 9:42:20 PM by Flindelaaf]
If the following is true, GM's bankruptcy is going to cost the taxpayer a lot more than any bailout of GM has cost already:
From Rep. McCotter's website: Note: According to articles from The Market Ticker and The Business Insider, many GM bondholders could hold credit default swaps (CDS) with Troubled Asset Relief Program (TARP) recipient AIG on GM debt. Secretary Geithner has previously stated that, due to the injection of taxpayer dollars, AIG “fully met its obligations” – in sum, it paid 100 cents on the dollar on AIG’s CDS contracts. Thus, if GM enters bankruptcy, GM’s bondholders with CDS contracts from AIG could be assured of getting all their money back – if not more – because the American taxpayer is now guaranteeing these contracts with AIG.
In other words, if GM goes bankrupt, you, as a taxpayer, are going to have to pay even more to bailout AIG because AIG is obligated through its credit default swaps with GM bond holders to make such GM bond holders whole in the event of GM's bankruptcy. You are going to be forced to funnel 10s of billions more through AIG to enrich AIG's counterparties. |
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wgjhsafT
Coming to a state near you.
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Joined: Feb 2003 PA, USA
Posts: 6174 Feedback: 100% (2) Link To This Post |
Posted: 4/10/2009 9:41:31 PM
Didn't they actually buy up debt or relieve them of debt originally or did they give them moar?
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rapracing
Member
Team Member
Joined: Nov 2008 PA, USA
Posts: 1235 Feedback: 0% (0) Link To This Post |
Posted: 4/10/2009 9:55:45 PM
Apparently not enough
They should have been left go bankrupt the last time (I know I'm preaching to the choir ). Things might have started working out by now. |
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