As GM shares near record low, taxpayer loss on bailout rises to $35 billion

As GM shares near record low, taxpayer loss on bailout rises to $35 billion. “Communism failed for a reason: government is a horrible capital allocator.” – Vitaliy N. Katsenelson

This post was last modified on January 26, 2021

Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (46)

  • At the end of the day, GM was just a front. It was'nt them who was bailed out, but the UAW. I will never own a UAW car as long as I live. BTW, if you are an Obama supporter who drives a foreign name car, but you did support the bailout, YOU ARE THE PROBLEM.

    • Did you see the other day where GM got caught fudging sales totals with fuzzy accounting (imagine that) on adding in government fleet purchase numbers? Thought I saved it but didn't. Oh well, at least I still have baseball and apple pie.

  • I want to know a few things about "john"...

    Does "john" shop for most of his goods & services from independent co-ops?

    Does "john" go out of his way to buy home made products from small shops?

    Does "john" go buy his produce & other food items at open air markets?

    Does "john" rail against capitalism like a trained seal because that's what they told him in college?

    Does "john" like his computer? Either an Apple or a PC using Microsoft products?

    Does "john" enjoy a smart phone with the latest bells & whistles on it? With a service provider that has great coverage?

    Does "john" take public transportation instead of driving around in an automobile built by a corperartion?

    Does "john" shop at major corperate chain stores & pay for his sh!t with a credit card from Visa, Master Charge, or AmEx?

    Does "john" use products made by big phama rather then relying on herbal medicines?

    During this heatwave, did "john" enjoy air conditioned comfort? Or is "john" against paying any more then need be to big evil power companies?

    ...I think we can all guess what "john" will answer on these questions. Because no matter how much he claims to hate capitalism & corperate greed, he likes what it produces. They all love their gadgets, & will not live without them, despite not liking the people who make them possible.

    • I've said it before, I am quite frugal with my spending and only buy the absolute necessities from the evil corporations. I don't have a credit card, a fancy smartphone, my computer is pushing 5+ years old. Any non-essencials that I don't need right away I do try to look for sale prices or secondhand purchases. And if I was "trained" to rail against capitalism like you put it, would I be voting for Ron Paul?

      Ironically, you're now trying to peer into my personal life like you thought I was trying to do during the census. You have become what you hate.

      • johnnie-girl, we aren't prying into your life, we're speculating about your situation based on what info you have given us. BTW, we didn't ask you to provide us with the age of your computer, if you have a credit card, or anything else, we wondered and speculated, you provided us with the info without coercion.

      • I am what I hate? Really? I effing hate socialism, my family has been victimized a couple times by it, & I hate it. I am no socialist. Between the Nazis & the Bolsheviks, I have no love for socialism, & I don't have a long fuse when I see some dumb a-hole in a Che shirt.

        But I do love capitalism & all that it produces. It helped America become the greatest nation the world has ever seen. But sadley, the cancer of American socialism, known as progressivism, is killing our republic. This July 4th may be the last Independence Day as a constitutional republic, & if it is, that is the begining of the end. This nation will not survive in it's current form if Obama wins a 2nd term.

        • Great post danyb, felt your conviction humming inside just reading it. Wish I were so eloquent. Ran across this after reading it, check it out

          http://dailycaller.com/2012/07/08/reverend-wright-knocks-obama-in-sunday-sermon/

          Hope you can laugh at it a little, UC Berkley and Harvard et al aren't retrogressive enough! These people don't realize if they move just a bit more to the left they end up to the RIGHT of Jerry frickin' Falwell for crying out loud.

          Add the white racist and alien DNA he included in the "Sermon" and I'm still scratching my head. Keep up the good fight.

          • Thank you Ghost, but I just try to be as honest as I can. That's all anyone should be, & sometimes that connects. The Rev.Wright is also being honest, & if you listen to radio shows like Glenn Beck or Quinn & Rose, they said that the biggest problems Obama would have would come from the political left, NOT the right. He's not radical enough & has'nt done the job quickly enough. You keep up the fight as well. If you know what you stand for & why you stand there, the good fight takes care of itself.

    • None of this is pertinent. john has mommy buy everything for him and drive him around to his appointments, therapist, "mommy and me" class, etc.

      • She probably drove him around the neighborhood while he was taking the unconstitutional census.

    • For the love of God! Do you ever have anything else to say? Like a broken bloody record you are.

      • Precisely why we must TD,........MO.

        Sadly, this includes you, Jenn. But don't worry, when My Feebleness and Johnny wither on the vine from their ignorance, and our ignoring them, new Trolls will appear to take their places, and you can try to save them. Entertaining us in the process, of course.

    • "This ones just too easy..."

      Indeed it is john, we all know what you're going to say. Predictable, simplistic amd dumb.

      Now, put on the dunce cap and stand in the corner.

      • Elrond-Instead of a dunce hat how about a orange safety cone on his head to prevent accidents? Toss in a lighted road flare just to be doubly safe.

        • Because it's just easier to call me a troll then to admit I'm right about Corporate Greed.

          • Everyone on the planet is greedy. YOU'RE greedy or you wouldn't care about the assets tied up in corporations that you want. Get over it! Go complain to Wall Street! Not the corporations, the traders. THey are the greediest of all. They will sell a rotten stock to their own grandmother, kowing it will banckrupt her, just to get the commission. Talk to Congress, who eliminated every singel protection put in place after the Great Depression to protect the country;s economy against Wall Street. If you're going to bitch, bitch about the real problem.

          • Oh, Gollum. Couldn't you stay quiet and find somewhere else to play for just one day? I expect this sort of behavior from Livvy, but I must admit to being disappointed in you! Now I'm going to have to put away this wonderful Land of Mordor play set I built for you this evening. Look. Here's an entire new army of Evil Mordor Cheetos, and here's a Corporate Greed (TM john)! action figure that I thought you'd have great fun dropping down into the Cracks of Doom over and over again. But rewards are for *good* behavior, Gollum, so this will have to be put up in the closet and perhaps you can earn it later some other way.

            Meanwhile, here's a helpful article that pertains to what you *should* be focused on. Read it slowly and carefully, several times. http://smallbusiness.foxbusiness.com/legal-hr/2012/06/15/magic-phrase-that-just-might-get-job/?intcmp=obnetwork

            And then there's this one (which is referenced in the above article): http://www.businessnewsdaily.com/2083-job-interview-mistakes-avoid.html.

            Baby steps and eye on the prize, honey!

          • Jenn, he probably would have been busy yesterday, but I doubt he's allowed to play with sparklers and smoke bombs without adult supervision.

          • Indeed. Gollum was off and away for several hours yesterday and I had such hopes for him - that he was out actively job-seeking and that he would manage to make it the entire day without even mentioning Corporate Greed (TM john)!. I even built him that new play set, thinking I would be able to congratulate him and present it to him today. Now it's sitting in the closet and I'm wondering if I wasted my time. I suppose he could still earn it by catching us a Mermaid, but I'm rather pessimistic about those chances.

            I'm very much afraid he *was* simply out playing with fireworks without any supervision of any kind, as today I am hearing stories of a suspicious fire in the woods down by IHTM Hollow.

          • His mommy probably supervises even when he's playing with his,.er,..........Little Johnny.

          • Jenn, you have me in stitches! I actually look forward to Dummy's posts now because I know you're there to swat him down! Keep up the great work!

          • johnnie, if you were right about anything, we would agree with you. No danger of that happening though.

          • In this case it's such an obvious case of union and government greed that if you don't see it you must be a troll, or stupid. Personally I vote for both.

    • Hello, Gollum. Today is Independence Day for America. Try to either enjoy it and have a good day, or at least not go out of your way to spread your special brand of grumpiness to others, all right? Let today be, honey. Just let it be. Corporate Greed (TM john)! and Sauron's plans to take over the world with his army of Evil Mordor Cheetos will still be here tomorrow.

  • I'm waiting to see if the Dumtards in Congress will mandate a fuel efficient vehicle and, just by sheer coincidence, the only company making a car that qualifies will be GM.

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