.
.
.
This is pretty cool. If you’re one of those who think that Obama’s “bailout” of General Motors was a waste of taxpayer funds; or if you’re one of those who think it was a socialistic “takeover” of an American business; or if you in any way think it wasn’t a good idea that didn’t work out great for America, our economy, and our workers, Austan here, from the President’s Council of Economic Advisers, should be able to disabuse you of those notions. Unless you’re hardcore unreachable…
Oh, by the way, speaking of “bailouts” … Did you know the infamous TARP or “Wall Street” bailout (passed under Bush by the way) is now about 90% paid back, and we may even make a profit on it? I would have done a lot of it differently, with more pro-consumer strings attached, but … it’s still something to keep in mind when ignorant people on both sides go on and on about what a waste it was: We got it back.
ARGUE AWAY, RIGHTIES!
Even with GM being valued @50 billion, after an USA investment of @49 billion, you would think that it is a plus of 1 billion, but that does not factor in the loss in the pension funds of the invested value of 50 plus billion in prior stock that went to ZERO, and the taxpayers are required to cover in the pension guaranty fund.