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Huh... no mention of this from the crowd, who just a few days ago, was hootin' and hollering about the AIG sale and proclaiming government was the best Venture Capitalists out there....
A few days after divesting its stake in the firm that started it all, AIG, and at a profit at that (ignoring that the risk has merely been onboarded by the Fed whose DV01 is now $2+ billion as a result), the US Treasury continues to divest of all its bailout stake, this time proceeding to GM, where the channel stuffing firm just announced it would buyback 200MM shares from the US government at a price of $27.50. More importantly, the spin. One hopes all those Union votes were well worth the now booked $40+ billion cost to all taxpayers.One wonders why the US government did not open up this particular buyback to a public tender: after all some taxpayers may still care about the financial mismanagement of Uncle Sam. Then again, perhaps not.From GM:General Motors today said it will purchase 200 million shares of GM common stock held by the U.S.
But, but, but....
We were told this was paid off in full -- the propagandists said so!
Who wrote (much less hooted an hollered) that the government was the best venture capitalists out there? Forget finding a crowd that wrote that. I bet you cannot find one post. Are you posting about something that you dreamt? Most adults understand that the auto and AIG bailouts were not meant as investments. They were meant to stop a financial collapse of our economy. Anyone that understands our economy and is not biased by their politics knows that they were very successful and that we are far better off because they were done.
well by saying what most adults understand you just slapped the board liberals who argued that point LMAO......
yes we remember....
You are the third person offering that lie. I asked the other two for a link and neither showed one. You have the same offer. Of course, like the other conservatives before you, you will not back up your lie. Being a conservative means never having to take responsibility for your claims. Facts and logic do not get in their way.
This post was edited by Morethanafan 19 months ago
Thank you to President Bush and President Obama for extending the help that they did to the American auto industry at a time of extreme need.
Plenty of losses spread around on Green Energy investments that has already been documented here.
Absolutely. However, we have no idea whether their are good investments in there and whether they will pan out. We likely will not know for many years. Do not get me wrong. I do not like the government making the investments that it did. It they are lucky and they investments work, great. However, it is not the government's role to make those types of investments. It is the government's role to fund R&D for certain activities (e.g. defense), build and infrastructure and provide a safety net (in my opinion). Obama would have been better off repairing bridges, roads, etc. However, we cannot know yet how the investments will work out in the end. It is common for only a very small percentage of R&D investments to work out and for that very small amount to make enough to make the overall investments very successful.
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