Moody's cuts Ford credit rating to 'junk' status

[Plati]

https://www.reuters.com/article/us-autos-gm-treasury-idusbrea3t0mr20140430

"WASHINGTON (Reuters) - The U.S. government lost $11.2 billion on its bailout of General Motors Co (GM.N), more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.

The $11.2 billion loss includes a write-off in March of the government’s remaining $826 million investment in “old” GM, the quarterly report by a Treasury watchdog said.

The U.S. government spent about $50 billion to bail out GM. As a result of the company’s 2009 bankruptcy, the government’s investment was converted to a 61 percent equity stake in the Detroit-based automaker, plus preferred shares and a loan..."

OK. Maybe I'm wrong?
Jeez never happened before. Really?

Still a good move. Right?

it was the TARP that turned a profit
https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

complain all you want
...me? I'm glad we still have GM

 

[carymccarr]

Meh. $11B for 1.5M jobs isn’t terrible. The Quagmire we’re in that started with invading Iraq has cost us $6T.


Sent from my iPhone using Tapatalk

 

[jeff kushner]

Or even the Iraq war doesn't come close to the 863 Billion dollar "stimulus" boondoggle for "shovel-ready" jobs in 2009, that according to the resident President at the time, "weren't so shovel ready".....where did all that money go?

Or, let's look at the 33,000 federal jobs created to handle the ACA....now that it's dead, did those folks get new jobs? What was the total cost of that boondoggle?

Hmmmm...

jeff

 

[carymccarr]

Or even the Iraq war doesn't come close to the 863 Billion dollar "stimulus" boondoggle for "shovel-ready" jobs in 2009, that according to the resident President at the time, "weren't so shovel ready".....where did all that money go?

Or, let's look at the 33,000 federal jobs created to handle the ACA....now that it's dead, did those folks get new jobs? What was the total cost of that boondoggle?

Hmmmm...

jeff

Actually 6T is materially greater than $800B.

Weird you have to make every thread political BTW. Very odd.

(FYI, hate to tell you this but the ACA isnt dead. Your insurance carrier STILL isn’t allowed to drop you if you get cancer)

 

[Plati]

Or even the Iraq war doesn't come close to the 863 Billion dollar "stimulus" boondoggle for "shovel-ready" jobs in 2009, that according to the resident President at the time, "weren't so shovel ready".....where did all that money go?

Or, let's look at the 33,000 federal jobs created to handle the ACA....now that it's dead, did those folks get new jobs? What was the total cost of that boondoggle?

Hmmmm...

jeff

Jeff … you don't sound well informed.
You did ask the question, kind of a mangled question .. so I assume you want an answer?
There are probably better answers than this, but its a start.

https://www.npr.org/2017/04/05/522629542/fact-check-trumps-claim-2009-stimulus-measure-built-nothing

The ACA is under siege … although its no dead yet. There are a lot of folks that are getting insurance plans they don't understand and without the coverage they thought. It depends on the state you live in. I'm glad to be in NYS!

The credit market meltdown in 2008 might be starting again? The Fed had to do an emergency repo operation today with another planned for Wednesday. This is unprecedented. Hold onto your seats! Maybe its just a glitch?