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1 Lidane  Jun 17, 2011 10:08:36am

Key phrase:

these Notices, which applied to Citigroup and AIG as well as to GM.

So yeah. Clearly the UAW are the only ones who might be at any fault at all.

2 Charles Johnson  Jun 17, 2011 10:17:56am

re: #1 Lidane

Key phrase:

So yeah. Clearly the UAW are the only ones who might be at any fault at all.

Buck’s really trying hard to prove that the auto bailout wasn’t a success, or it was illegal, or something. There just has to be something wrong somewhere, and he’s gonna find it.

3 Lidane  Jun 17, 2011 10:39:37am

re: #2 Charles

Buck’s really trying hard to prove that the auto bailout wasn’t a success, or it was illegal, or something. There just has to be something wrong somewhere, and he’s gonna find it.

Sort of like Don Quixote and his windmills, then?

4 KingKenrod  Jun 17, 2011 11:03:43am

I found the guidance. It’s here. Basically EESA gave the Treasury wide latitude in “greasing the wheels” of TARP wherever necessary. EESA is law and supersedes previous law.

You can look at this as a good thing since it artificially props up GM stock, making the Treasury more likely to recoup its losses for the taxpayer.

You can also look at this as purposeful obfuscation since it’s essentially a $6 billion giveaway to GM from the taxpayers (by allowing GM $18 billion in NOLs that they would lose under normal rules - that’s future profit they won’t have to pay taxes on). This is money the treasury will never recoup regardless of GM’s stock price - it’s gone, period.

5 Buck  Jun 17, 2011 11:35:27am

re: #2 Charles

Buck’s really trying hard to prove that the auto bailout wasn’t a success, or it was illegal, or something. There just has to be something wrong somewhere, and he’s gonna find it.

Go ahead and make stuff up about me. Obviously you don’t want to discuss the facts.

There is no UAW type of group in Citigroup and AIG. There is no group that would directly benefit monetarily from these at Citigroup and AIG.

However there is at GM.

6 Lidane  Jun 17, 2011 1:25:02pm

re: #5 Buck

There is no group that would directly benefit monetarily from these at Citigroup and AIG.

If you’re dumb enough to believe that, I don’t know what to tell you.


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