Let Detroit go bankrupt

[tylamonroe]

Those Goddamn capitalists have done it again. Good thing Obama's hands are clean.

http://boogiefinger.blogspot.com/2012/1 ... otors.html



Bailed-out Division of General Motors sells in Bankruptcy to Billionaire Obama Supporter Bailed-out Division of General Motors sells in Bankruptcy to Billionaire Obama Supporter



Ally Financial Inc., previously known as GMAC Inc. (an acronym for General Motors Acceptance Corporation), is a bank holding company headquartered in Detroit, Michigan, United States at Tower 200 of the Renaissance Center

Buffett’s firm wins auction for ResCap’s loans
The Associated Press
Thursday, Oct. 25, 2012 | 1:03 p.m.
Warren Buffett's company won the auction for Residential Capital's loan portfolio with a $1.5 billion bid this week.
That means the conglomerate Berkshire Hathaway Inc. will acquire the loans as long as a bankruptcy judge approves.
ResCap's board of directors said Thursday that Berkshire had submitted the best bid for its portfolio of 47,000 loans.
Berkshire's winning bid is slightly higher than the $1.442 billion minimum Berkshire promised when it became the lead bidder for ResCap's loan portfolio in June.
ResCap's parent company is Ally Financial, which is 74 percent owned by the U.S. government as a result of bailouts. ResCap has been a drain on Ally's finances for years because it has struggled to make payments on its debt ever since the U.S. housing market collapsed in 2007.

Barack Obama LIES in the 3rd Debate About Mitt Romney's Statements on the GM Bankruptcy

Fact-check: Text of 2008 Romney op-ed debunks Obama’s auto-bailout attack


The Democrats' GM Fiction Causes Friction


TARP Overseer Neil Barofsky on Bailouts & Obama

[DEATH ROW JOE]

You need to learn how to format a post so it can be read. Also, Romney did not support the govt playing a role in GM/Chrysler's bankruptcy. He supported POST bankruptcy guarantees. The car companies needed debtor in possession financing to operate during the reorganization. Mitt would not support such a bail out and the car companies would have had to liquidate since the private sector would not finance the bankruptcy.

"The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk." - Mitt Romney

So you fail at life asswipe.

[tylamonroe]

Obama bailed out the unions, not the company. GM is still up shit creek without a paddle. They will end up doing it Romney's way at some point, it will just cost 10x what it needed to and you and I will pay for it.

There is a reason that Ford, BMW, Honda and many others are making it work in America without a bailout from your pocket and mine. Care to guess what it is?