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| How many knew that our GM bailout money has been going to bailout foreign operations?; SEC report reveals the dirty details | |
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| Tweet Topic Started: Oct 16 2012, 08:31 AM (1,046 Views) | |
| Neutral | Oct 17 2012, 12:01 AM Post #21 |
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Fire & Ice Senior Diplomat
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Didn't read all the links but the GM bailout was a union bailout, period. Everyone else got shafted, including the taxpayers. |
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| Mountainrivers | Oct 17 2012, 12:06 AM Post #22 |
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Fire & Ice Senior Diplomat
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"The pension guarantee program would have desalt with the bankrupt pension fund like all others" Sounds like the pensions guarantee fund was a good idea to you until you realized it wouldn't solve the problem. I would be for doing away with the fund altogether. Pat, you also bitched about not covering SS and Medicare because it took away things people had paid for and depended on. Why the change of heart now? |
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| Pat | Oct 17 2012, 12:41 AM Post #23 |
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Fire & Ice Senior Diplomat
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If you look into that guaranty plan Neal, you will find that for years, contrary to it's own rules, the Pension guaranty fund allowed corporations and private pension funds to underfund their plans. The reserve obligations were just ignored by the plan even when it was aware of the pending disaster were a large corporation to go under. Fanny and Freddie suffered from the same gross mismanagment, and to add insult to injury, we as taxpayers had to bail them both out. These are glaring examples of how our government operates and why nobody should feel safe about any entitlement. Of course they will have a bag full of excuses when one goes under. |
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| Mountainrivers | Oct 17 2012, 12:47 AM Post #24 |
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Fire & Ice Senior Diplomat
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You could say the same thing about SS and Medicare, Pat. You were adamant that those programs should fulfill their obligations because people had paid for them. Now, it seems, you think the pensioners shouldn't get what was promised to them even though they paid for it. That's contradictory. |
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| Neutral | Oct 17 2012, 12:52 AM Post #25 |
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Fire & Ice Senior Diplomat
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SS and Medicare are compulsory. |
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| colo_crawdad | Oct 17 2012, 12:56 AM Post #26 |
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Fire & Ice Senior Diplomat
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I would just say that if, in fact,. we bailed out union members" by saving their jobs, we still saved the jobs of millions of Americans. Most union members in this country are American. |
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| MrsS | Oct 17 2012, 01:13 AM Post #27 |
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I really wonder why GM didn`t sell Opel 3 years ago? They got a good offer.....
Why keep a brand that produces only losses? Do you see a reason for that? |
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| Neutral | Oct 17 2012, 01:15 AM Post #28 |
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Fire & Ice Senior Diplomat
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Their still selling the Volt and losing money. Politics maybe? |
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| Mountainrivers | Oct 17 2012, 01:25 AM Post #29 |
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Fire & Ice Senior Diplomat
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This is one reason GM gave. "One reason was that the European division was providing much of the small-car, fuel-efficient technology needed for the revival of its parent company." And this is another. "Europe’s car market may be shrinking but it is still pretty big and GM cannot afford to abandon it." Those arguments have been debunked by recent events, but who knows what the GM execs were thinking when they made the decision not to sell to Magna. |
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| MrsS | Oct 17 2012, 03:15 PM Post #30 |
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That might be true. If I`m not mistaken, a couple of GM`s US-cars have OPEL roots. Anyway.....I wish OPEL would be on its own again - if that`s even possible after almost 90 years of being a GM-daughter. Pat, I`m sorry for straying a little off topic.
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