Government Motors Failure
GM: Car-buncle On The Body Politic
"The Wall Street Journal on Tuesday reported that after two years of government cash and stewardship by handpicked political operatives, the company would have to sell its stock at $134 just to break even and pay back its bailout. That's $39 higher than the stock's historic high, reached in 2000 at the top of the SUV and credit boom.
In short, don't count on it."
Your hard earned money taken from you as tax dollars at work...
GM has only repaid under 10 billion of the loan we were forced to grant them as a handout to the Democrats union supporters, with around 40 billion still owed back in the form of stock at this point. If we're to break even - just to break even, not to make any sort of actual return like we might have done if the cash had been used wisely - then GM's stock after their IPO will need to hit records they've never come close to achieving before. And don't forget the extra handouts they gave to them in the form of "Cash for Clunkers" which is currently hurting those at the bottom of the economic ladder the most since massive amounts of perfectly serviceable used cars were literally destroyed creating a lack of cheap vehicles on the market and driving prices for those vehicles to record unattainable highs.
"The Money Hole" from The Onion appears to be pretty on target...
"The Wall Street Journal on Tuesday reported that after two years of government cash and stewardship by handpicked political operatives, the company would have to sell its stock at $134 just to break even and pay back its bailout. That's $39 higher than the stock's historic high, reached in 2000 at the top of the SUV and credit boom.
In short, don't count on it."
Your hard earned money taken from you as tax dollars at work...
GM has only repaid under 10 billion of the loan we were forced to grant them as a handout to the Democrats union supporters, with around 40 billion still owed back in the form of stock at this point. If we're to break even - just to break even, not to make any sort of actual return like we might have done if the cash had been used wisely - then GM's stock after their IPO will need to hit records they've never come close to achieving before. And don't forget the extra handouts they gave to them in the form of "Cash for Clunkers" which is currently hurting those at the bottom of the economic ladder the most since massive amounts of perfectly serviceable used cars were literally destroyed creating a lack of cheap vehicles on the market and driving prices for those vehicles to record unattainable highs.
"The Money Hole" from The Onion appears to be pretty on target...
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