Oops! Fed Says They Lost More Than Expected With GM Bailout - Knowing What You Know Now, Would You Do It Again?

The United States as a country, is a failed state. Wall Street thought they were the king of the world, but look what happened with Lehman Brothers. Anyone educated would know London is a far superior financial capital, and practically London is the most important city in the entire world in terms of the world economy.

Manufacturing businesses, are disappearing in the United States and yet, the European and the Japanese are still going incredibly strong. The Europeans still manage to keep the king of luxury brands status, and the Japanese, even though they are quite losing to the Chinese and the Koreans, they still are showing great prowess in the video gaming & electronics industries. And in the automobile industry, Infiniti and Lexus are now getting serious about the whole competition, which looks quite promising.

But what is the United States doing? This moronic, tries-to-be-like-E.U.-but-Failing country thinks profit is everything, and the whole performance of the U.S. government in the past 10 years does not make the U.S. look like a superpower. In fact, now I hear more respects towards the German government everywhere.

The rich Americans usually have a great respect for the European high culture (Actually wait, not just the rich Americans, but pretty much most rich people in the entire world), the European luxury brands of automobiles, timepieces, fashion, spirit and so many things. But how many of them really respect America in general and care about Made in the U.S.A., except maybe someone like Warren Buffett?

Question is, is there anything that really can be considered "Proudly American"? Oh I guess yes there is, trash culture like Hollywood. Justin Bieber (And ironically Canadian) and stuff. I guess that is like the "only" thing that makes America look so distinctive and unique.

It's actually pretty funny how a dumb child like you pops up and tries to argue so desperately using a very "few" cases that do not help your position, at all.

Exactly what am I supposed to look at, from Libor scandal anyway? When stating that London is the most important financial capital is something historical, and it has been the most important city in terms of the world economy for hundreds of years? "Ohhh, look, Libor scandal!! London sucks!!" is something only a child would say.

And I see. So, what are you trying to "prove" by saying the European countries take advantage of the others? Did you even "read" my comment more carefully? Is that what I was talking about? Are you a highschool drop out?

You basically have done "absolutely" nothing to challenge my argument. Any "kid" would know that the U.S. losing middle class is a "fact", and the only thing the U.S. can be so proud of, is now just trash culture. Why? Because America "never" had a culture to begin with.

Oh, sorry, America had another one to be proud of. Call of Duty, the videogame. Great.

But in any case, you not being able to defend the position of America completely pretty much proves that I am right.

And re-patriot what? The United States has adopted Neo-Liberal Globalist ideas since the days of Reagan, and the U.S. Corporations have no reason to destroy their profit by just adding more jobs in the U.S. instead.

You sound like someone who dreams a lot of things, like a little child. I think you should just admit the fact that this country no longer knows how to innovate.

What a sad child you are. I can see you are either a highschool drop out or just barely graduated from it.

Your statement: Oh, Europe is going down! It's declining! It sucks!!

My argument: The rich people have a great respect towards the European high culture and their luxury brands, and the Europeans still maintain their status as the king of all luxury brands.

Meaning, you most likely have no brain cells to even argue. You are practically not defending the point that I brought up, which is the fact that the United States has no culture but just trash like Hollywood. And yet, you are talking about how Europe is declining. Oh, why don't we just say the entire world economy is declining? And yet, was that even the point that I was making? Oh wait a second, you are way too dumb and uneducated to even realize.

But then once again, you STILL not being able to defend America "proves" that I am right. Don't even try, kid. You are too dumb to argue. And I think you already know. Otherwise, why are you STILL not talking anything about that I wonder?

Oh, you gave me links? What good are those, when you practically have no clue how to argue to begin with?

And I don't read much. Hahahaha I already read enough in my school days, so no thanks.

Especially not the ones from a highschool level kid. And on top of that, having nothing to do with what I was talking about.

I believe I already have explained? Does your highschool level brain really not get what I was saying still?

Let me ask you, what makes America unique and distinctive? What is America usually known for around the world? And also let me ask you, is the U.S. economically doing great? Is it?

It's pretty laughable how you say I have no evidence, when you, your moronic comments on this website along with the others pretty much prove that I am correct about the things I stated.

So? Let me ask you, what is America usually famous for?

Once again, BobM(oron) shows his stupidity. But you are getting better now.

Justin Bieber calls himself a Canadian because he was born in Canada. He has no reason to call himself an American, when he "literally" is not. Why would he? And yet, who made him so big? Was that Canada?

And my "favorite" Hollywood show? What? I do "not" even watch Hollywood movies, and in fact, anyone who likes Hollywood (A moronic, uneducated American kid like you) is really a low life. I would see one or two Hollywood movies, or never, since they keep producing movies with Made in China quality stories in general. So oops, sorry, did I somehow break your fantasy there?

Science and medical advances! Oh good! And yet, many Americans can't even afford all the medical bills! And do you even know what a medical field is like? Just because a country leads in a certain area of medical sciences does not mean the country is entirely leading the whole scientific department.

And a few grades above my education? There better be. It's not like I am a PhD student nor do I need to study that much.

I am only mocking you because you sound like someone below highschool level or almost equal. But you are now slowly getting my point, and giving me better responses.

But once again, you are still not bothering to argue against my American culture = trash culture point, and what kind of great culture America has in general against the European countries. Science and medical fields have "nothing" to do with the cultural stuff that I was talking about. In fact, you would have a better chance by linking the U.S. military prowess to science, as the U.S. military is without a doubt the best.

You are practically not trying to argue with me here, or are you?

So, you really are not going to bother, hmm?

Funny, BobM(oron), you already stated it was over and yet, here you are, once again popping up and keeping it up still.

Let's see, so I believe I've already told you that your sources are MEANINGLESS regarding the point I was making. But since you are just a highschool level child, you don't understand what I am saying here. If you don't even know what I am talking about, don't even bother trying to act like a smart kid. Because you clearly are a moron.

Your point regarding the European banks was pretty laughable. You think I have some sort of fantasy toward the European countries or something, when I was simply "pointing out" the truth regarding how the society (Especially the wealthy people) sees the European culture in general.

Let me ask you, who owns the U.S. Federal Reserve? Do you know this one, my highschool dropout friend? It's pretty funny how the U.S. would talk about LIBOR scandal, and yet, never really talks much about who owns their own central bank? Who owns the U.S. Economy through the FED?

And once again, STILL not trying to argue about my point being the American culture = Trash culture. Because you know you can not argue about this. Well, I guess America has another one, which is not so bad. A military culture. But that's about it, isn't it? Where is heritage? Where is an "American" heritage in anything else nowadays?

You should keep trying, my highschool dropout friend. You know you can't argue against my points (Which is why all you can say is "oh I already gave you sources!! About Europe going down!!" Did you know pretty much every country's economic situation is bad right now? Do you want me to give you all the sources regarding how bad the U.S. economy is right now when that NEVER was my point? But then once again, you are too stupid to even get this.)

You truly are BobM(oron). Don't even try anymore. It only just makes you look quite pathetic.

And deboosts? Ohhh, like I care? At least there are "fans" who really love to deboost my comments. You don't even have anyone who "cares" about you. Sad, isn't it?

I wouldn't have bailed out GM the first time! I don't believe it's a good thing to throw money at a company that isn't profitable. I don't believe in rewarding bad behavior, or poor decisions that led to them. I don't believe it's a good idea to transfer the losses incurred my giga-enterprises to tax-payers in the form of a crippling national debt.

When Joe Sixpack spends more than he earns, racks up huge debt, has his creditors pounding at his door, and is such a crappy "craftsman" that few people want to buy what he makes, we tell him to shape up, smarten up, and "you made your bed, now sleep in it." But when a giga-enterprise does the same, the Feds borrow billions, give it to the loser corporation, and send the bill to taxpayers.

This isn't the first time this has happened. Many readers might be too young to remember Chrysler's previous bankruptcy. I don't believe it'll be the last time, either.

As long as lots and lots of people feel entitled to a job -- that someone OWES them one -- there will be a government that wins votes fueling that fantasy, while the voters believe that Santa Claus came by and saved lots and lots of jobs. Sort of like throwing piles of money at Joe Sixpack, "saving" his job.

The fact is that the reorganization of GM could have happened without the bail out.

Agree with TheSteve and MattD. Fact is the bailout of GM was unecessary even before this recall fiasco. And secondly, if there was not a taxpayer-backed bailout, that is NOT to say that the entire company would have been liquidated and shut down. There were valuable assets there that would have been used to restart an auto company, just with FAR fewer interests and demands to meet.

Financial regulation has targeted banks that are too big to fail, in order to prevent the need for a taxpayer-backed bailout of a big bank in the future. Anyone who did support the GM bailout is basically admitting that GM also was too big to fail, and the US is just as exposed to them before the crisis as they are now.

And I freely admit it. Why not admit that GM was too big to [allow to] fail [without serious economic repercussions that would have affected millions of people]? And we are indeed pretty exposed to this risk, just as we were in Autumn 2008. Maybe GM the entity would have survived regardless, reorganizing and so forth, but the cost in jobs lost, in manufacturing slowing to where suppliers (that affect production across multiple companies but do rely in part on GM to stay afloat) also go under, in service jobs affected, etc. The amount of unemployed, coupled with loss of taxable income from the government's point of view, would that really have been worth it? Didn't we have an article linked here recently that did the math and made the government's loan to GM seem like a bargain compared to the likely alternative?

If you're of the opinion that GM should have been allowed to crumble and then slowly rebuild itself as a sort of karmic retribution, then you're missing the nuance that GM's fate affects quite a lot of actual human beings, many of which are not even directly employed by GM. That's what "too big to fail" meant in this case -- the cost of letting GM fail was WAY higher than propping it up.

The bailout is against the rule this country plays by: Free Market. Like tides any dynasty, let alone a company, thrives and fades, then something better/stronger arises. The people who lost their jobs would still find employment, easily, had we stopped and expelled illegal immigrants and their associates. In this way, American citizens kept their employment, while Justice prevails, and Integrity is maintained.

yes, yes, its the Mexican's fault!

The loss could've been a $100B, and it still would've made sense.