frank marshall davis

The government owns much of GM. Plus Obama gave his union buddies a 39% share

You don't see class warfare? Take off your partisan blinders

 

So you can't see Obama socialist agenda and then you ignore his communist history and background

 

barak? barry? frank jr? who is he?

 

No just stating facts the left will not admit

http://www.forbes.com/sites/paulroderickgregory/2012/01/22/is-president-obama-truly-a-socialist/

 

no, they're shareholders. big difference.

not communist.

again, what class warfare?

this is the third and final time I'm going to ask. Can you name any communist policies he has proposed or signed into law?

 

He became Obama's mentor through Obama's white grandfather

http://www.freerepublic.com/focus/f-news/2904367/posts

 

you have yet to provide any examples of socialism, or communism from obama. You seem to have no idea what either of those words actually mean.

 

Barack Hussein Obama Jr.

 

You can deny it if you want but Obama took over GM and gave a third to unions. That is what a socialist government would do.

 

oh...now hes "jr" and not the second?

 

no, you made it up. the govn't hasn't taken over anything.

 

So you did not read the link in post#29

 

Really? Who said who would be CEO. Obama did

 

Oddly enough, I don't get my information from freerepublic but yes, since Obama himself told us that Obama's white grandfather introduced him to Frank Marshall....I am left once again with

So what?

 

Nope, I don't see a socialist agenda- I see a President far too cozy with Big Banks and Big Business. He has no 'communist history' himself, other than knowing some communists. And since communism itself is perfectly legal here in the U.S.....I say again- so what?

 

does anyone know much about Obama's past?

 

i'm curious to how Uncle Sam got part ownership of GM when all the money it gave GM was pre-bankruptcy.

 

and this is made up nonsense. the govn't is a minority shareholder. you have no idea what socialism is.

 

never been the second.

 

What does that link have to do with your claim?:

"What do you call the government taking over business? Obama's class warfare is also part of it"

 

I do...everyone else does.

glad I was able to help out.

 

No examples of socialism or communism. you have no idea what either of those words mean.

 

A 'socialist' government would probably have let GM fail. Or taken it over and run it as a state owned organization. But what Obama did is not like anything any socialist government has ever done.

 

made up nonsense. the govn't hasn't taken over anything.

 

On November 7, 2008 General Motors reported it had projected it would run out of cash around mid-2009 without a combination of government funding, a merger, or sales of assets.[19] Ten days later General Motors representatives, along with executives from Ford and Chrysler testified about their need for financial aid at a Congressional hearing in Washington D.C. All three companies were unsuccessful in their attempts to obtain legislation to authorize U.S. government aid, and were invited to draft a new action plan for the sustainability of the industry.[20] On December 2, 2008, General Motors submitted its "Restructuring Plan for Long-Term Viability" to the Senate Banking Committee and House of Representatives Financial Services Committee.[21] Congress declined to act, but in December 2008 the Bush administration provided a "bridge loan" to General Motors with the requirement of a revised business plan.[22] It said it needed $4.6 billion in loans within weeks, from the $18 billion it had already requested, and an additional $12 billion in financial support in order to stave off bankruptcy. On Feb. 26, 2009, General Motors announced that its cash reserves were down to $14 billion at the end of 2008. G.M. lost $30.9 billion, or $53.32 a share, in 2008 and spent $19.2 billion of its cash reserves. Mr. Wagoner met with President Obama’s auto task force, and the company said that it could not survive much longer without additional government loans.

On the March 30, 2009 deadline President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to compel bondholders and trade unions into settlements.[23] GM Chairman and CEO Rick Wagoner was also forced to resign.[24] GM bondholders rejected the government's first offer, but the unions agreed to the preferential terms.[25] A bondholder debt to equity counteroffer was ignored.[26


Efforts to sell General Motors' European operations ran into difficulties, as the corporation was expected to file for bankruptcy protection by June 1, 2009.[27] United States government officials suggested that, if they were satisfied with the company's plans to restructure, the U.S. government would take at least a 50% equity stake and reserve the right to name board members.[28] On 31 May 2009 news broke that the U.S. would initially likely become the largest shareholder of the reorganized GM following a bankruptcy filing and re-emergence from bankruptcy. The U.S. government would invest up to $50 billion and own 60% of the new GM and the Canadian government would own 12.5%.

A White House report sent to Congress in August 2012 estimated the sale of the remaining G.M. stock acquired by the United States Treasury during the company's bankruptcy will result in a loss of $25.1 billion to the American taxpayer.[96] The total cost to the taxpayer will be determined after the government sells its 26% stake in G.M. and its 74% stake in Ally Financial, formally known as GMAC, G.M.’s financing arm.


The U.S. is selling its ownership in GM.