Quote:
Originally Posted by Bucco
WOW.....when he finally does all industries it is going to be complicated..
"The new General Motors Co. could be undone by a lawsuit that pits general creditors against hedge funds including Elliott Management Corp. and Fortress Investment Group LLC over $3 billion, the car company said in a lawsuit that went to trial today."
Read more: Lawsuit Could Undo Sale That Created New GM, Company Says - SFGate
BUT check this out and remember we may, as taxpayers, own a lot more companies like we own GM....
[B] "If you've only been paying casual attention to the problems General Motors is wrestling with at Opel, this might make you sit up and pay attention.
Writing in Forbes, Joann Muller says the loans GM has made to Opel have actually come from taxpayer dollars. That means American money essentially is keeping a German carmaker afloat — something the German government refused to do."
Why American Taxpayers Are Paying For The Big Mess In Europe
I thought free enterprise was simpler than all of this\
PS....We, you and I as taxpayers, gave out $50 billion. The GM stock price in 2009 was $33 per share, the price that we taxpayers paid. Today the price is $20.65 So, in terms of stock price alone, we taxpayers are out $6.57 billion. The US Treasury says it has no plans to sell GM stock at a loss. Now he wants to do this with all industry |
so GM shouldn't have been saved, all those people should have lost their jobs, another american industry should collapse.....are you sure you weren't Mitt's partner at Bain? maxing out loans, pocketing the money, then leaving a bankrupt company behind? his advice was let them go bankrupt, yes that was what he said because that, evidently, is his plan for America -- let it go bankrupt!