Barack Obama GM deal hurt senior citizens

There are die hard union followers who see only the great deal that the UAW got from this deal. That's similar to the people who ran Bain seeing only the good deals they got. If you believe the Dem narrative this should be as bad as any deal Bain did, only difference Bain didn't use taxpayer money to screw other taxpayers. Discuss among yourselves.

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i tried to send out an e mail today to alert another regular poster about the new stories on how Obama and the UAW screwed senior citizens and middle class workers on the GM deal but got this message in reply. "Your message wasn't delivered due to a permission or security issue. It may have been rejected by a moderator, the address may only accept e-mail from certain senders, or another restriction may be preventing delivery."
That's a violation of my free speech, kind of like someone being banned from a message board.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

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Chris ought to have like buttons here.

Mr. Apathy

4 Ways the Big Banks are Still Screwing Homeowners — And How They're Fighting Back
Here's how the banks are still doing exactly as they please when it comes to homes. But there's hope.
http://www.alternet.org/story/154939/4_ways_the_big_banks_are_still_scre...

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

I've noticed on here quite often that people don't realize there is a topic in some cases for a posting. For instance I posted the video about the GM deal and Obama screwing over pensioners, seniors, and middle class working people hoping to see a discussion of that and why it hasn't been covered to the same extent that Bain has been.
Instead I find a typical liberal feint to draw attention away from the UAW and to what they refer to as "big banks". They forget of course that "big banks" made it possible for GM and the others to remain in business for many years. I have yet to meet one person, and I'm 60, that was forced to sign a mortgage for a house, a car loan agreement or any other paperwork for a bank. My experience has always been that I had to choose to ask the bank for money because I did not have it myself. I wish there were proof of banks forcing people into mortgages, then I might change my tune. Carry on.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Here's a list of the banks which saved GM. Lots of familiar targets for Occupy people and liberals who want to demonize the money lenders. I wonder where GM would be right now without money from these banks.
The lead banks on the five-year facility are Citigroup and Bank of America, people briefed on the matter told DealBook on Thursday. And the following are the other members of the initial consortium:

JPMorgan Chase
Morgan Stanley
Goldman Sachs
Credit Suisse
Barclays Capital
Deutsche Bank
UBS
Royal Bank of Canada

Each is committing, at first, $500 million as part of the facility, these people said. As other institutions join the lending group, however, the commitments of the initial 10 are expected to shrink, leaving the overall size of the credit facility at about $5 billion.

http://dealbook.nytimes.com/2010/08/12/the-banks-behind-g-m-s-5-billion-...

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

I wonder where GM would be right now without money from these banks.

The same place they are right now. They didn't take a loan from any of these banks, they set up a line of credit.

You seem confused, so let me explain what a revolving credit facility is in layman's terms. Revolving credit facilities are essentially like a credit card (unsecured) or HELOC (secured) for companies, in that the borrowers can withdraw, repay, and redraw up to the credit limit. When setting up a revolving credit facility, a company is securing credit that can be used if needed, not taking out a loan.

BTW, every single bank listed in the NYT DealBook piece took money from the US government during the 2008 crash.

There's a city full of walls you can post complaints at

Great description of a credit facility, thanks. It doesn't negate the point that without banks GM would be out of business, and that now the very people who want to demonize the banks are ignoring the role banks played in the saving of GM. I should not have called them loans. As for bank bailouts, I've always said they are wrong.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Because without a revolving credit facility GM wouldn't be out of business.

There's a city full of walls you can post complaints at

Sorry I'm missing something then. Where would GM be without a bank loan or a revolving line of credit from a bank?

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Essentially nothing would be different. Their borrowing costs might increase slightly and their IPO might have been priced a few bucks lower.

There's a city full of walls you can post complaints at

2007–2012 global financial crisis
From Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/2007%E2%80%932012_global_financial_crisis
Quote:
The 2007–2012 global financial crisis, also known as the Global Financial Crisis (GFC), is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s.[1] It resulted in the collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis.[2][3]

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Here's a list of the banks which saved GM. Lots of familiar targets for Occupy people and liberals who want to demonize the money lenders. I wonder where GM would be right now without money from these banks.
The lead banks on the five-year facility are Citigroup and Bank of America, people briefed on the matter told DealBook on Thursday. And the following are the other members of the initial consortium:

JPMorgan Chase
Morgan Stanley
Goldman Sachs
Credit Suisse
Barclays Capital
Deutsche Bank
UBS
Royal Bank of Canada

Each is committing, at first, $500 million as part of the facility, these people said. As other institutions join the lending group, however, the commitments of the initial 10 are expected to shrink, leaving the overall size of the credit facility at about $5 billion.

http://dealbook.nytimes.com/2010/08/12/the-banks-behind-g-m-s-5-billion-...

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

as what happened to G.M. bondholders,G.M. auto dealership owners, and Delphi / G.M. retirees .
BILLIONS were flat out stolen & misappropriated !
All at the hands of what crony capitalist President Food Stamps, wrought !

Anyone not seeing the difference is as obtuse as a human can be.

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