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The Auto Bailout Failure Is Now Complete

cchuba Wrote: Dec 20, 2012 10:22 AM
On top of the $25B loss in cash, GM was able to carry over over $10B worth of tax losses that would normally be liquidated in a bankruptcy. However, had the gov't not stepped in, there is a good chance that GM would have faced a liquidation bankruptcy unless someone here can identify the private sector entity that would be able to lay out $50B.
MadisonWannabe Wrote: Dec 20, 2012 1:16 PM
If GM and Chrysler went under it would not be the end of the road. If there is market for the cars GM sold, that market would not evaporate, it would move to other manufacturers and the same jobs would follow. All that happened is the loafers at GM and Chrysler got another hand-out.
Michael182 Wrote: Dec 20, 2012 12:56 PM
If the need is there the market will fill it.
Robert G2 Wrote: Dec 20, 2012 12:03 PM
In a capitalistic society, if you do not manage your business well you go out of business. Government bailousts are socialistic and do not belong in a free market society.
AZhot Wrote: Dec 20, 2012 5:19 PM
G.M. Is now in danger of failing again. Socialism/Marxism, bound to fail and take everybody down with it.

You may recall that during the presidential election, the Treasury Department refused requests by General Motors to unload the government's stake in the giant automaker.

Taxpayers had sunk $50 billion into a union bailout in 2009 and were now proud owners of 26.5 percent of the struggling company. Reportedly, GM had growing concerns that the stigma of "Government Motors" was hurting sales in the United States. At the time, any transaction would have come at a steep loss to taxpayers and undermined the president's questionable campaign assertions that the auto union rescue had been a huge success.