In the late 70s, when Carter and our beloved Critters in Congress decided to bail out Chrysler by guaranteeing over a billion dollars in loans, I was pretty sure we'd seen the last of that money and once again, we tax-payers; we producers; we the people would just have to eat it and move on. I was wrong about that one.
When Obama said we needed to make the same kinda move with Detroit (specifically with GM) in 2009, prompting every "conservative" to fall on the floor writhing in apoplexy, my memories of being wrong about Chrysler helped me confirm for myself the simple fact that the GOP has lost its shit completely and that I was absolutely right to have left those blockheads in the dust.
Some people.
And speaking of 'some people', did ya catch the bit about lifting the restrictions on GM Execs' pay? Guess what happens next.
Sometimes, it's impossible to figure out who I'm s'posed to be mad at. And I'm beginning to understand that that's kinda the whole fucking point.
When Obama said we needed to make the same kinda move with Detroit (specifically with GM) in 2009, prompting every "conservative" to fall on the floor writhing in apoplexy, my memories of being wrong about Chrysler helped me confirm for myself the simple fact that the GOP has lost its shit completely and that I was absolutely right to have left those blockheads in the dust.
The U.S. Treasury today announced that it has sold all of the remaining shares of General Motors (GM +1.82%) common stock, ending four-and-a-half years of government ownership.
Taxpayers recouped about $39 billion of the $50.1 billion pumped into GM in late 2008 and 2009 as the Bush and Obama administrations tried to save the car maker from collapse after years of mismanagement brought to a head by a crippling credit crisis and economic recession. The sale will put an end to restrictions on executive pay, which will help GM attract top talent, and could pave the way for new dividends or share repurchases, both of which would please investors.
Historians, economists and politicians will continue to debate whether the bailout was a good idea, but there was no disagreement Monday that it was good for this episode to be over.
“The President’s leadership in responding to the financial crisis helped stabilize the auto industry, and prevent another Great Depression. With the final sale of GM stock, this important chapter in our nation’s history is now closed,” said Treasury Secretary Jacob J. Lew.So if we hear anything about it at all, we'll hear about the $11 Billion it cost us. We won't hear about the several hundred thousand jobs Americans didn't lose, and we won't hear about the (probably) hundreds of billions of dollars in saved &/or generated GDP, and we sure as fuck won't hear about "investment in American Industry". We'll only hear about Gubmint Motors and how Obama's Secret Socialist Puppets on Wall Street (?) squandered all that money - which will conveniently make it just a tiny bit harder to remember how the GOP's Gov't Shutdown cost us close to $25 Billion while generating precisely dick in economic returns.
Some people.
And speaking of 'some people', did ya catch the bit about lifting the restrictions on GM Execs' pay? Guess what happens next.
Sometimes, it's impossible to figure out who I'm s'posed to be mad at. And I'm beginning to understand that that's kinda the whole fucking point.
