tea party, did you know that chrysler paid back it's govt loan?

S

scottso360

New member
http://www.engineeringnews.co.za/article/auto-industry-2011-06-17-2
perhaps ford was not as bad off as gm and chrysler
Ford credit got a 15.6 billion loan from the federal reserve.

link?

corporations are always getting corporate welfare.
and? Did any of the tax dollars I paid to help save their a$$ get refunded to me? No

the loss of 3 million jobs would have put us in a second great depression with you selling apples on street corner just to survive, or selling something else.
http://www.thesunnews.com/2011/06/02/2195579/shortages-cool-us-auto-sales.html

shortages slowed usa auto sales in may. that might actually be a good sign. it's not a demand problem in other words.
http://seattletimes.nwsource.com/html/opinion/2008266752_opin15delgado.html

fewer illegal immigrants means higher food prices.
No they didn't. That "source" is just giant numbers fudging.

could you elaborate?
none of my links lead to msnbc. but msnbc has been very critical of obama.
You mean like GM paid back the loan and started TV ads about doing so ?

Even though it was a big lie,

says the fix news talking wisconsin palm trees.
Actually, it repaid a loan with another loan.

says the fix news bubbleheads
Other competitors would take advantage of their liquified assets and turn it around....this involves employing people...there still would have been massive layoffs.
even if that's true. many auto companies have vanished before along with their jobs or most of their jobs.
Other competitors would take advantage of their liquified assets and turn it around....this involves employing people.

perhaps auto companies from china.
http://content.usatoday.com/communities/driveon/post/2010/11/general-motors-reports-2-billion-profit-on-eve-of-ipo/1

gm made $2 billion in one quarter.
Other competitors would take advantage of their liquified assets ...meaning closed plants. no workers inside those plants
GM and Chrysler’s stockholders were wiped out.

that's part of capitalism. quit whining.
 
No auto company paid the money back, that is just spin to try to make 0bummer look good.

As far as your point that the handouts saved jobs, We will see in the long run if many others do as I will and never buy another GM or Chrysler product.
 
Who was paid the interest on that loan? ....The same people who created the money out of nothing. How about that fraud for ya?

"the loss of 3 million jobs would have put us in a second great depression with you selling apples on street corner just to survive, or selling something else."

LMAO! Read into propaganda much? You act as if those companies, all their assets, and all their property would just disappear! NOT TRUE! Other competitors would take advantage of their liquified assets and turn it around....this involves employing people.

The government failed to save Delta Air Lines....they filed Ch. 11, and look at them now!
 
Ford credit got a 15.6 billion loan from the federal reserve.

ford issued a press release stating they borrowed 15.6 billion from the fed.

here is part of the list

The Ford borrowing timeline looks like this:

10-27-08 – Ford Motor Credit borrows $1.980 billion from the CPFF
10-29-08 – Ford Motor Credit borrows $990 million from the CPFF
10-31-08 – Ford Motor Credit borrows $991 million from the CPFF
11-18-08 – Mulally flies to Washington in the company’s corporate jet and asks for financial assistance. The event is a PR nightmare because the CEOs of GM and Chrysler also fly to Washington in private jets.
12-3-08 – Mulally drives a Ford Escape hybrid to Washington and asks for a $9 billion credit line to use “if industry conditions worsen.” Mulally says he’ll work for one dollar per year if he taps the credit line.
12-8-08 – Mullaly declares, “Ford fully supports an effort to address the near-term liquidity issues of GM and Chrysler, as our industry is highly interdependent and a failure of one of our competitors could affect us all… For Ford, a line of credit would serve only as a critical backstop or safeguard against worsening conditions, as we drive transformational change in our company.”
12-18-08 – Ford Motor Credit borrows $1.984 billion from the CPFF
12-19-08 – Ford Motor Credit borrows $992 million from the CPFF, to bring its today CPFF borrowings to nearly $7 billion. Ford would continue rolling over these loans for the next several months.
1-29-09 – Ford announces a $5.9 billion loss for the quarter but insists it does not need financial help from the government.
1-29-09 – Ford Motor Credit rolls over $1.488 billion of CP with the CPFF
2-13-09 – Ford Motor Credit rolls over $496 million of CP with the CPFF
3-2-09 – Ford Motor Credit rolls over $1.984 billion of CP with the CPFF
3-18-09 – Ford Motor Credit rolls over $1.984 billion of CP with the CPFF
3-19-09 – Ford Motor Credit rolls over $1.980 billion of CP with the CPFF
5-19-09 – Ford Motor Credit rolls over $992 million of CP with the CPFF
6-17-09 – Ford Motor Credit rolls over $992 million of CP with the CPFF



FACTS REPUBLICANS HATE
Republicans create massive deficits without a democrat president babysitter:
FY 2002 - 158 Billion Deficit - Bush/Republican congress
FY 2003 - 378 Billion Deficit - Bush/Republican congress
FY 2004 - 413 Billion Deficit - Bush/Republican congress
FY 2005 - 318 Billion Deficit - Bush/Republican congress
FY 2006 - 248 Billion Deficit - Bush/Republican congress
FY 2007 - 161 Billion Deficit - Bush/Republican congress (passed by republicans in 2006)
(Deficit numbers DO NOT include war spending which Bush kept "off-budget")

Source: CBO - Congressional Budget Office - (search for "cbo doc10871 historical" for proof)

FACTS REPUBLICANS HATE
Both our record deficits were from republican presidents.

Bush left a record deficit of 1.3 trillion the day he left office. Source: ("cbo doc9958 testimony")

Before 2009, Reagan held the record for the largest deficit since WW2 at 6.1% of GDP in fiscal year
1983. (Source: cbo 5056)

FACTS REPUBLICANS HATE
Reagan still holds the record for increasing our debt.

Reagan increased our debt an average of 23% yearly...he TRIPLED it from 934B to 2.6T (186%)
Bush increased our debt an average of 11% yearly...he DOUBLED it from 5.7 to 10.6T (86%)
Obama increased our debt an average of 16% yearly from 10.6 to 14T (inherited massive deficits)

Source: US Treasury Dept. (search for "debt to the penny" for proof)

FACTS REPUBLICANS HATE
1)Bush turned a 236 billion budget surplus into a record 1.3 TRILLION deficit which would add trillions in new debt to Obama's tab.
The US fiscal year 2009 started Oct 1, 2008 and Bush's last 4 months of the lame duck spending went on Obama's 2009 tab, including the $700 billion TARP wall street bailouts.

On Jan. 8, 2009, two weeks before Obama took office, the Congressional Budget Office testified before Congress that the deficit for FY 2009 would be at least $1.2 trillion and probably more if a stimulus bill was passed. (The FY 2009 deficit ended Sept. 30, 2009 at $1.4 trillion)

Source: CBO - (search for "cbo doc9958 testimony" for proof)
politifact.com/truth-o-meter/statements/2010/jan/15/david-axelrod/axelrod-claims-bush-saddled-obama-big-deficit/

2)In FY 2010, the first year of entire democrat control since 1994, Obama and the democrat congress reduced the deficit by 8.6% from 1.4 to 1.3 trillion. Source: ("cbo doc11936")

3)Republicans won the house in Nov 2010 and forced their tax cuts for billionaires on America...now the deficit is projected to rise from 1.3 to 1.5 trillion in FY 2011. (Source: "cbo doc12039")
 
and? Did any of the tax dollars I paid to help save their a$$ get refunded to me? No


Oh, ok, and this is coming from the guy who thinks that it's ok for illegal immigrants to live here because it will cut down on food costs. LOL
 
There were some consequences:

GM and Chrysler’s stockholders were wiped out.
GM and Chrysler’s bondholders suffered significant losses.
GM’s lost a series of CEOs.
GM and Chrysler workers made huge contract concessions.
GM and Chrysler ceased to exist. (Unless you’re interested in bankruptcy law, don’t worry about this one. Old GM went out of business. This wiped out its liabilities. Its performing assets were transferred to a new company, which was also named (New) GM, which was owned by the bondholders. The assets that weren’t performing were liquidated.)
In short, the people who owned GM lost their entire stake.
 
What about " General Motors "...... I mean " Government Motors " ? ( crickets )


Obama's ONLY solution to EVERY problem is to throw more & more unlimited money at it and.......when that does not work......Obama AGAIN throws more & more money at it
 
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