Quote:
Originally Posted by Robbie
The automakers never paid anything back.
The govt. took stock from the company in return for the bailout and then sold the stock over time to recover money.
The "bailout" was really the federal govt. theoretically taking taxpayer money (but actually just printing money because we are so far in debt) and buying stock in the automakers.
Also...if you read that link you posted to politifact (which I'm guessing that you didn't as usual)...you will see that the auto bailout began under Bush and continued under Obama.
So Obama (as usual) cooked the books and is only counting the amount that the federal govt. gave the auto makers under his watch.
The FACT is that when you count the ENTIRE auto bailout...the feds lost several billion dollars.
Try reading the article you linked to instead of just the headline.
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Ask an auto worker, how they feel the bailout went. Ask any retired worker with a GM/Chrysler/Ford pension how they feel the bailout went. Oh that's right, pensions are 'entitlements.'
Compare the auto bailout to the bank bailout. Who do you think fucked the taxpayers the most?
What do you think your house would be worth now without the bank bailout?
I have to admit, that article wasn't the greatest example of displaying how great the auto bailout was, but even at it's worst, its still better than what the banks did.
Lets just focus on the bad shit, and ignore the good stuff though.
That article focuses on what Bush gave them and didn't get back, and blames the Obama admin, because they "suggested" it was a good idea before Bush left office.
Yes, the government sold stock... so they recovered money. Does it have to be in crisp 100 dollar bills, packed in suitcases, delivered in armored cars?