How GM IPO Proves the Tea Party Wrong

[impik]

From Newsweek:


What could have happened is that today, General Motors would be in the 15th month of its bankruptcy, no end in sight, with consumers shying away from its products and tens of thousands of automobile industry workers either laid off or despairing for their futures.

Instead we have an IPO that is the talk of Wall Street, loans being repaid with stock sale proceeds, an auto company that makes money at the bottom of a cycle and new products that are widely applauded.

So it's a simple call. The Tea Party and its predecessors, who eschewed federal loans to GM, simply got it wrong.


More: http://www.newsweek.com/2010/11/17/how-gm-ipo-proves-the-tea-party-wrong.html

[MrTriumph]

1. Taxpayers could still lose billions

Anyone wanting to take a victory lap now is acting prematurely. The government is still one the hook for billions. Plenty could go wrong with GM between now and the next offerings.

[Zoeisright]

2. Hey, the dictionary proves the teabaggers wrong.

They are just plain WRONG.

[girl gone mad]

3. Yay for private equity firms and Wall Street banks..

looting taxpayers!

:eyes:

[veganlush]

4. the Chevy Volt is gonna be big.

[moparlunatic]

10. Seriously?

That car is doomed to failure. 25-40 mile range on electric, and a price of $40,000. Nobody is going to buy that.

[cherokeeprogressive]

5. Michael Moore says we own 500 million shares that are $18 below their break even price of $53...

You'll forgive me for not jumping on the "GM Bailout was a great decision" bandwagon I hope.

One of the things I find most frustrating about this site is the fact that today vs yesterday is seen as such a great leap forward. Today President Obama's favorable poll numbers are 1% better than those reported yesterday, and that's evidence somehow that for the country as a whole, things are looking up.

The end of a drought is brought about by an infinite number of raindrops. Each raindrop though, taken as an individual, is evidence of nothing.

Talk to me when the drought is over.

[PoliticAverse]

6. Crony Capitalism Wins! n/t

[FrenchieCat]

7. The comments within this thread from folks here at DU

shows how Republicans don't win....
it's just that Democrats defeat themselves....
and I'm not talking about Obama nor the elected Dems,
but rather the folks who call themselves Dems who participate here....

As one notices most don't have anything good to say about Obama,
and nothing Bad to say about the Tea Party.

Than we wonder why this country is so fucked up.....
why even have enemies when one has friends like these?

[ProSense]

8. EPI:

Huge Return on Taxpayer Investment

[golfguru]

9. Not according to this article from Reuters

http://www.reuters.com/article/idUSTRE6AH5F320101118