So, the Government money, Given to GM, to help save American jobs, was spent where?
LMAO, this just keeps getting better and better, what idiots we are for electing this waste as president. Mmm, Mmm, Mmm, Barack Hussein Obama...Oh, and remember, Buy American, buy GM, what a joke. excerpt... GM is investing bailout money in multiple foreign countries. For example, "Government Motors" is spending your tax dollars in Brazil. According to the president of GM Brazil-Mercosur, Jaime Ardila, the $1 billion to "complete the renovation of the line of products up to 2012" will come from the $50.2 billion bailout GM received earlier this year. Yet at the same time, GM says it intends to eliminate 21,000 U.S. jobs by the end of 2010. GM plans new investments in Mexico of $1.2 billion through 2011. It has promised to "continue to invest heavily" in China and to roll out at least five new brands there before the end of the year. And last Thursday, General Motors Chief Executive Officer Fritz Henderson said the company could tap some U.S. government aid to help restructure the company's European Opel unit. According to GM statements, "as a matter of principle, [the U.S. authorities] are not opposed to GM making investments in its foreign operations." American companies are right to invest and seek profits overseas. That's what a free market is all about. But the market is only free when the money American companies invest overseas comes from stockholders who freely choose to invest in the firm and customers who freely choose to buy the firm's products. When the government takes tax dollars from hardworking Americans, promises to use the money to bolster America's economy and then allows the cash to flow across our borders, it invites a populist revolt. GM can't be blamed for going where the profits are. But profit-seeking isn't the federal government's job. http://www.washingtontimes.com/news/2009/nov/13/exporting-auto-bailout-cash/ Crown Royal: you are a sad individual...why not invest ALL the Government money overseas, it will all trickle back to us, right?
Politics - 11 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Have seen many GM commercials, bet they spend more on advertising than they will on plants in Mexico. We should not have to support a company that obviously does not make a product that sells well in a truly free market.
2 :
So...you have a problem with global Capitalism? Interesting. They're going to be taking away foil hat for thoughts like that. You don't understand how GM parts made in the US make their way to cars in other countries?
3 :
The money wasn't GIVEN to GM. GM exchanged stock in the company for a LOAN. That loan will be paid off with interest. If GM makes good investments and good corporate decisions, that money will be paid back more quickly. If you're going to tell a story, try telling both sides. Your spin is just TOO EASY to refute.
4 :
It's like all TARP money, no strings attached. Like the big banks using the money for bonuses and to buy up smaller banks. No excuse for using our money to bailout "TO Big to Fail" business. Support Sen Bernie Sanders bill to break up these To Big to Fail businesses, a 2 page bill.
5 :
The UAW was facing financial collapse from having spent 40 million of their members money on the Obama campaign . The GM/Chrysler bailout was nothing more than a big thank you and political bribe from the Democrats . Scum all pure scum.
6 :
Good reason to buy Ford.
7 :
The bailouts were stupid and unConstitutional.
8 :
I just loved how our Feds, took TARP money and invested it in a Auto Assembly plant reopening in Maryland or Delaware. Catch ? It was in our beloved VP Biden's HOMETOWN. How's that for "helping your own" ?
9 :
I need to find a word that mixes sigh, ugh, and OMG. And you are right 100%. It is American tax dollars, sacrificed not from the uber rich or the government officials, but from the middle and lower class citizens, whose budgets are already stretched thin and can't afford higher taxes without higher pay. And you are right. If DC doesn't reel in the companies, and start giving the money back to the people, we are going to see a revolution that the world has never seen an equal to. It will be bloody and it will be long. It may even usher in WW III, depending on how other countries exploit the situation. Here's hoping that we do not have to see that day.
10 :
The bailout was not for GM or Chrysler, it was for the UAW. " I owe the unions big time. " BHO
11 :
looks like i'm buying ford
