Interesting question

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He did. But let's abstract it for a minute. Consider the president of a bank, who inherits a $15 billion investment from his predecessor. The investment is going sour, with a $30.9 billion dollar loss and an auditor's statement that the company continuing survival is "in substantial doubt".
What does he do? Firing the CEO, demanding a plan for continued viability, and taking the company into bankruptcy when the plan fails would be smart capitalism and protecting his investors.

I'm not happy with government bail outs, either. But remember, it was Bush that did it, not Obama. Obama was just cleaning up the mess the same way any investor of that magnitude could have and should have. -- Doug
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Douglas Johnson wrote:

Actually, as I understand it, the Bush administration provided more of a 'bridge loan' than a bail-out. And the loan had no mandates for management reorganization or much of anything else. The talk was to 'kick the can down the road' in the sense of not obligating or limiting the new administration.
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I saw it as just another Bush-to-the-rich give-away. First, make it possible to steal as much as they can and then throw some more their way after it's discovered that they overreached the bounds of their greed. All the right-wingers are quick to claim that Obama's bailout has done nothing for the economy but they never mention anything about the billions that Henry Paulsen handed out to his Wall Street buddies.
Dave in Houston
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Dave in Houston wrote:

You wouldn't expect him to hand money to his ENEMIES, would you?
As for Paulson having "Wall Street buddies," would you rather a farmer or airline pilot be Treasury Secretary? Don't forget that his three predecessors at Goldman-Sachs ( Jon Corzine, Stephen Friedman, and Robert Rubin) also went on to serve in the government (Rubin as Treasury Secretary under Clinton).
And, since it's the rich that pay the bulk of the taxes anyway, I look at it more as a "tax rebate" than anything nefarious.
There seem to be four possibilities on dispensing largesse:
* Tax the poor and give to the rich (bad) * Tax the rich and give to the poor (bad) * Tax the rich and give to the rich (good) * Tax the poor and give to the poor (good)
and a fifth, way-out, possibility:
* Tax nobody and give to nobody
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Please get your facts straight. GM and Chrysler were granted $17.4 Billion in loans on December 19, 2008 by the Bush administration. See:
http://www.nytimes.com/2008/12/20/business/20auto.html?_r=1&hp .
You can also see a more complete list of Bush bailouts at:
http://bailout.propublica.org/main/timeline/index
-- Doug
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evodawg wrote:
... snip

Seems a strange way for the huge corporations to be running the world -- having their stock taken over by the government, their CEO fired by POTUS, and the company "re-distributed" to the government and the unions. Yeah, those corporations, they're pretty powerful and sly, yep.
--
If you're going to be dumb, you better be tough

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Mark & Juanita wrote:

Last time I looked GM was not a bank and has no powerful lobbyist working the Politicians. There will be no new regulations on Wall Street. Wall Street owns Congress.
--
"You can lead them to LINUX
but you can't make them THINK"
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evodawg wrote:

Then it looks like GM spent just shy of $14,000,000 in 2008 on "not" working the politicians.
http://www.opensecrets.org/lobby/clientsum.php?year 08&lname=General+Motors&id
--
Jack Novak
Buffalo, NY - USA
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Nova wrote:

http://www.opensecrets.org/lobby/clientsum.php?year 08&lname=General+Motors&id> Pennies compared to finance and Investment Lobby.
--
"You can lead them to LINUX
but you can't make them THINK"
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evodawg wrote:

http://www.opensecrets.org/lobby/clientsum.php?year 08&lname=General+Motors&id=

And distributed among the members of Congress it gives each one about 2 percent of the cost of their political campaign.
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On Jul 15, 4:09pm, snipped-for-privacy@green.rahul.net (Edward A. Falk) wrote:

Then you aren't paying attention.
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Incorrect. It was an Advisory, regrading new Visa requirements, not a "no travel" ban.
http://dosfan.lib.uic.edu/ERC/travel/cis/southasia/TA_Pakistan1981.pdf
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Joe wrote:

No, it wouldn't. A Passport does not imply citizenship in the issuing country. Britain often issues "Passports of Convenience" and other countries will issue passports to descendents of their citizens through several generations back (Israel and Ireland are two examples). Further, it is possible to "buy" a passport of another country (actually by establishing residence and making a substantial "investment" in the country). Costa Rica and Belize are examples.
I have two passports: one from the U.S. and one from another country. Actually I have a third - a fake passport from British Honduras and anyone can get one allegedly from Rhodesia, along with supporting documents such as a driver's license, library card, and other bits of paper.
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He won get over it. the questions are now moot. G bush was and is a high functioning mental defective and there is no question about that
Len
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Len wrote:

It doesn't matter if he eats babies for breakfast and farts cyanide, he no longer has any political power to speak of and if your life sucks it's Obama's job to fix it, so GET OVER BUSH.
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Personally, I would like to thank you for that.
All the whining, teary eyed children that are still in therapy over the Bush years would do us all a favor by jumping off the nearest bridge into freeway traffic.
Robert
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Tom Watson wrote:

I dunno. I kinda like: "Today we rescue a world from mysticism and tyranny and usher in a future brighter than anything we can imagine."
But it's a little long for a bumper sticker.
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wrote:

The last GOP slogan I could get behind was Bush the Elder's:
"A Thousand Pints Of Lite."
Regards,
Tom Watson http://home.comcast.net/~tjwatson1 /
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Tom Watson wrote:

Bud Lite or Coors Lite?
Ugggh
--
Froz...

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On Fri, 17 Jul 2009 12:47:32 -0400, FrozenNorth

The answer is, obviously, Bush Lite.
Regards,
Tom Watson http://home.comcast.net/~tjwatson1 /
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