Why are cons attacking Obama regarding his decision to buy up stock in GM?

The slippery slope. Once Govts start buying up private sectors they can own the country and then you have a powerful Govt that turns into a dictatorship

In the United States for over 200 years we have become a powerful and free nation because we keep the Govt. from buying us.

My sister lives in Venezuela and Chavez just kicked out all the oil companies and nationalized all oil. Now it is all owned by the Govt. (He did this last week)

Do you think Venezuela started out this way? No... you ease into it nice and slow....

Now in Venezuela you will be watched by your supervisor when you go to the voting poles. If you have a govt. job WHICH YOU ALL WILL IF THE GOVT. OWNS THE COUNTRY your supervisor is instructed to fire you if you do not vote for Chavez. You will be blackballed from ever getting a Govt job. Then you and your family will live poor till your death.

PST, guess what, Obama is making it so you must vote in public when voting for or against a union. (sound familiar?)

just do a search on yahoo or google and read the news, I'm not lying, you will find all I said the truth.

He is doing it for one because it is corporate law. When the government loaned GM 20 billion dollars, they bought what amounts to bonds.

When a corporation goes liquid in bankruptcy, lien holders get paid first, bond holders next, then preferred stock, then common stock.

In order to keep GM in chapter 11 and give them time to restructure and emerge out of bankruptcy, the government decided to turn their bonds into common stock, so that GM is in a better position to negotiate and their current ratios reflect better numbers. Common stock is not counted as a liability, whereas bonds or debt owed is considered a liability, which would hurt GM in bankruptcy.

So, Obama really had no choice but to accept 60% of GM ownership.

If you want to blame anyone for the failure of GM and the fact that the government owns the majority of GM, blame the CEO's who made bad decisions over the last 20 years. If capitalism had worked and if the CEO's were worth all the millions they were paid and actually did a good job, GM would be surviving like Ford, Honda, and Toyota.

KEEP IN MIND... ALL OF THIS WAS DONE AT THE REQUEST OF GM AND THEIR CEO'S. GM ASKED THE GOVERNMENT FOR HELP IN THE FIRST PLACE.

They allowed republicans to regulate the narrative. never extremely strengthen the reality that a million, the republicans shrink the cost variety to the embassies. 2, decrease than the previous administration fifty 4 embassies have been attacked ensuing in 13 American deaths. of those fifty 4 assaults, basically 3 hearings have been held, none of that have been used as a sword against the administration. and 3, If the youtube action picture had not something to do with the protests, then what have been the different 19 protests in front of our embassies that day approximately?

Another step closer to Fascism. Since Woodrow Wilson the Government has been buying up the private sector. A brilliant strategy by the way take control of the money and banks( Federal Reserve ), Take over the Media lesson learn from Gerbils, control labor ( FDR ) , Make people dependent ( LBJ the worse Texas President war on poverty) Now rules for radicals ( Obama).

i think obama is doing it for the right reasons. It will be really bad for our economy if any major company fails, GM is one of those company. even though cars aren't selling very good right now, when (if) we get out of the recession, they will be a major part of rebuilding because there will be a lot of jobs opening and GM also is sold all over the world so they help us make money form other countrys too.

What "Political Capital"???? we have NONE!!! This would help his agenda to take over the economy. do you know who is the head of GM right now? Barack. The govt. owns 70% of the company. We are no longer the USA. We are the USSA. United Socialist States of America. America is now a socialism. we arent on the path or the road anymore. we are there. we are now germany, and we want to have universal healthcare now, which is the biggest joke since Joe Biden. you know that we are going to tax soda because its "bad for you"? COME ON!!! Obama is doing to the soda industry what the govt did to the cigarette industry(not that I condone smoking at all). and soda wont give you cancer in moderation. it used to be like this. it used to be US Steel and GM, now we cant have that.

R.I.P.

General Motors 1908-2009

re-named

Government Motors-2009

C.E.O-Barack Hussein Obama

The best part of the Chrysler and GM deals are in favor of the unions,not the company's who carried GM's debt over the last couple of years.And the unions payed to get him elected.

Also I never saw a federal program that worked,or didn't cost billions more then congress said it would,examples medicare, social security,food stamps,etc.

Just think how many billions the tax payers would have been spared had the Obama administration just let GM go bankrupt.

The government is incapable of running large industry. Obama has already proven that his decisions will always be politically based. That is a formula for disaster when it comes to running a company.

By nationalization of GM Obama

1. pleases the Unions. Obama throws 50 billion of taxpayers money onto GM, Unions kick him back 1% = 500 million in bribes. Enough for reelection.

2. pleases environmentalists. Obama in now in charge of auto industry and can order electric cars. Never mind that electric cars need charging from coal burning power plants.

b/c the gov't has no business owning or running any company.

b/c they now have a conflict of interest when making automotive regulations that affect FOrd

b/c Ford, who made wise decisions and good deals is getting shafted in the whole deal.

b/c you, the taxpayer, are getting shafted through having to pay for a company that no longer has a viable future.