HERE WE GO AGAIN--I SMELL ANOTHER BAILOUT FOR GM

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We've all heard the stories about how great GM is doing. The "secret" is now out that a primary reason for the rise in auto sales is that GM Financial has increased the number of subprime loans it is giving. A subprime loan is one made to someone with a FICO score under 660.

Just like the mortgage loan disaster where people who had no hope of repaying were given loans, GM Financial is doing the same thing with cars. In the 1st Quarter of 2012, 93% of its total loans went to people with FICO scores under 660.

Once it becomes obvious that car loans were given to people who couldn't afford them (and if Obama, god forbid, gets re-elected), one can expect some sort of government bailout to save GM Financial.

http://news.investors.com/article/620090/201207271807/gm-risky-subprime-...

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GM is definitely "channel stuffing" with cars. That must be buoying up its numbers. It has also been caught lying about world production numbers, by claiming all the sales from a Chinese partnership. And the much-vaunted Volt is still having dismal sales; at this rate, the car will never be profitable for GM.

And those are just the major issues with GM-the-manufacturer. I figure this is all a game to keep the lid on until the November elections. So something will have to happen to the company in 2013. Divestiture is one option. Bankruptcy is another. Sadly, if Solyndra Boy in the White House stays in power, more government money may flow into GM, so an actual bailout is the 3rd option.

What's up, does GM need us to fun another plant in Mexico? Ole' Volt!!

ask them where are the Pontiac and Oldsmobile employees.
Then watch the ignoramus morons spit, stammer, and stutter....and the blame BUSH !

definitely need another $600-900 billion, P.D.Q. !

And that, is Guaranteed !

Government Motors, Government Banks, Government gone CRAZY, with my our hard earned dough !!!

REMEMBER: send Slick Willy, Janet Reno, Andrew Cuomo, Barney Fwank, and Chris Dodd, Christmas cards, birthday cards, and get well cards ,...because our current economic NIGHTMARE, is all their faults , 100%...all so that they could say via the Community Reinvestment Act, we put more homes in the hands of citizens ( bummers ) who in NO WAY, could ever afford them !!!

Yes, I'll take that yellow Lamborghini, and that red / black Bugatti, there....charge it to Dim voters across America !!

Oh, I should also mention nearly $1 TRILLION of college loans Nationalized by Obozo, soon to come due, and that went to "students", to obtuse to fill out registration cards...all no doubt vote the D ?!
American Treasury Bonds- DOWNGRADED for the first time in all of American History....

Opened at $32 in its first offering now at $19.67 a share. That channel stuffing idea has some merit. It's supposedly used to inflate the price of a company's stock.

toledojim

The 2nd worst of which was "cash for clunkers". What clunkers, just for starters? People who had the means to buy new cars, but had been holding off due to the dismal economy, went for the free money (what was it - something like $4,000 per buyer?) - and bought cars they would have bought anyway eventually.

Then Obama - PRETEND-FRIEND to the poor, made sure that the poor couldn't get in on that particular gravy train [they could have afforded these so-called clunkers] by DESTROYING PERFECTLY GOOD USED CARS, most of which were not anything resembling clunkers. This was SO DISHONEST, so PUNISHING to working and lower class people, that it completely defied logic. That is IF you are not a knee-jerk Dem. Dems operate daily in the logic-free zone.

So let's review - BO "buys" GM on behalf of an already burdened American citizenry. They go through bankruptcy anyway, effectively protecting them from product liability issues of all kinds, and then he DESTROYS GOOD USEABLE USED CARS, so that the working class and poor have absolutely NO OPTIONS for affordable transportation.

The Democrat elites are not for the poor - THEY DON'T KNOW ANY POOR PEOPLE.

Sadly, C4C seemed to work. The average price of a new car in the USA rose, to about $30700 by April 2012. That was a huge bump upward from the $28400 it had been before. Can you imagine? That the average price of a new car rose 8% in a fairly short period of time, while we're having all these massive layoffs and foreclosures?

All it did was to remove over 1.1 million used cars from the Market.
Therefore, with a REDUCED supply, prices skyrocketed for used cars !!!????

And, it also made new car prices rise way above normal costs !!!!

Supply and Demand economics mystifies the woefully uneducated masses !

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