Bailout News

GM Pays Back Bailout

10:46 am EST April 21st, 2010 | News | 37 Comments

Link

General Motors has completed repayments totaling $5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker’s bailout last year, the company said Tuesday.

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Mitt Romney Defends The People Who Caused The Economy To Collapse

9:56 am EST March 2nd, 2010 | Republicans | 15 Comments

mitt romneyOh Lord, this is the Mitt Romney I know and love.

The Boston Globe on Mitt Romney’s new book, which comes out today: ‘As Mitt Romney sets out this week to promote his new book, ‘No Apology,’ he is also auditioning for a rapidly disappearing role in American politics: a politician who is speaking out against the ‘temptations of populism.’’
 
He told the Globe in an interview, ‘The populism I’m referring to is, if you will, demonizing certain members of society: going after businesspeople, going after Wall Street, going after people who are highly educated, people who are CEOs. That kind of ‘All of our problems are due to that group’ is something that is unproductive.’

You see, even though Wall Street was the major force behind the near-collapse of the global economy, Mitt Romney doesn’t think it’s very sporting of you to beat up on his chaps from the country club!

This guy is a living caricature of the out of touch elitist Republican. The only thing worse could have been if he made these comments while wearing a monacle.

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Time To Let GM Die

6:48 pm EST February 17th, 2009 | News | 15 Comments

$30 billion isn’t a bailout. $30 billion is a whole new car company.

General Motors Corp said on Tuesday it could need a total of up to $30 billion in U.S. government aid — more than doubling its original aid — and would run out of cash as soon as March without new federal funding.

GM wants the equivalent of almost 4% of the entire stimulus package that just passed. Not only are they unlikely to repay it, they’re unlikely to make the fundamental changes necessary to adapt to the future and get their house in order. I can’t see any way right now we should be entertaining the idea of propping up GM at this cost.

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