The Auto Bailout Was a Failure, Hurting Taxpayers and the Economy

This mini-documentary from the Center for Freedom and Prosperity Foundation explains why the auto bailout was bad news for the economy -- and for the rule of law.

[Scottit]

Some items:

1.Detroit has been close to bankruptcy & in terrible shape due to Dem policies: losing a million+ people, having a <40% HS grad rate, and many (30%+ ?) residents on taxpayer assistance.

2. A small portion of the Big Three’s operations are in the Detroit area.

3.The "US auto industry" was not bailed out; #1 & #3 were. Ford got by.

4.Other supplier companies to auto manufacturing & have a few other customers.

5.Other automakers in the US.

[SuperGregoryRoss]

Good video. I don't get why the POTUS and others look at this as a success. I mean, yeah I understand UAW got a great deal and all, but if there was a functioning press, they never should have got away with this. The "Fourth Estate" has become a Fifth Column.

[aon]

Their main argument is that they should do the same to get out of the crisis that took them in to the crisis.

[serverok]

My ego is elusive to me. I haven't owned a car since 2010 ( and I haven't used a car since 2008 ) This year my income will be about the average level of a peson living in Moldovia, which means I will probably pay no income tax, but its impossible to forecast my personal tax, even if it should be easy, since I have all the info, the government always surprises me both up and down, which probably means that the whole affair is more chaotic than at first glance, and arbitrary. But what do I know ?

[serverok]

The Ford bailout was not as much received, as it was laying dormant on various accounts and never used, only to be paid back in full, shorty after. It was created, as an apparent failure to balance the distortion of a very long term government investment in GM, but despite Government Motors, Ford has been doing ok, since the market crash, because ( wait for it.... ) people buy their cars, hahaha

[Scottit]

6. GM & Chrysler DID go bankrupt, violating law & defrauding bondholders & pensions.

7 Regular bankruptcy would have resulted w/restructuring &/or absorption, being more efficient than now, w/lower expenses (ie less UAW power) & better management, especially w/out Washington meddling.

8. Many jobs were cut, including [Repub] dealerships - not an expense [of the carmaker].

9. The 2 companies continued outsourcing - not a bad thing, but big contradiction [of many] to Barry’s rhetoric.

[serverok]

the FEB made a profit by saving AIG ( even if the profit was small comparing the risks of bankrupcy ) When it comes to GM, the government principal is cut in half at the current GM market value ( this video talks about GM, not AIG ) and to not loose taxpayer money, the government will have to wait for a miraculous market event, and also discount the inflationary costs of lending out billions to GM at practically ZERO interest

[BillPigg]

I challenge you to listen to her wise and revelatory message without looking at her chest.
I failed.
... but maybe someone... somewhere... will succeed.

[Prphz]

I failed before I even knew it was a challenge...

[Brandon-xpob]

Better said it was a mistake. It was a huge success... For the right people

[patrickdavid]

It sounds like the United States Government paid to much for a bunch of stock and that the bill will be pushed to taxpayers. On the other hand does the government wait and hold the stock making GM a government owned stock and company in the long run. Since the bailout it has peaked at 40 dollars a share which dumping 7 billion dollars in shares would depreciate the value of the company at least 20 percent and create a problem with the SEC especially if the the stock value dropped more than 8 percent in one day. I would say they have to sell back about 300 million dollars worth of shares at a time until the government only owns maybe 2-3 billion dollars in shares, which in that case they can hopefully figure out some way to transfer the remaining shares into a government pension that disperses the money through retirement funds set to mature in 15-25 years. I think in order for the government to gain off of this program they will have to hold the stock for a longer period of time. Problem with that is then the government has an incentive to give government contracts for GM made vehicles, motors, and jet turbines taking away the opportunity for smaller companies to bid on government contracts.

[mikemike]

Hope u made a video about bank bail out

[freetrailerpoor]

Every graph I see shows about .3 C rise from 16 years ago. Have you even tried to google it?

[toyoscio]

It was a clean slate new start for GM and Chrysler

[glenbail]

Would be nice to find how and why after taxpayers bailed them out and taxpayers lost another 11 billion when our government dumped there stock how and why did government give GM a 45 billion dollar tax credit? So the untold bailout was that taxpayers give them another 45 billion dollar blank check so they can make there billions and pay little or no taxes?

[WokeRacismEverywhere]

What a joke, completely skips around the point that the companies are doing well, payed back a lot of the money, and are looking great. This was the goal and it succeeded. This group is completely ridiculous.

[Scottit]

True that she' has a prominent chest -- hopefully you absorbed/comprehended the substance in her speaking.

[serverok]

GM = Government Motors, ROFLCOPTER :D

[abc]

That Emily O'Neil's really hot too!

[MovieCompoundBoat]

Are they churning these hot republican chicks from a factory somewhere? Seriously, who's making these videos and how can I intern?