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GM paying back its government debt

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Re: GM paying back its government debt

Postby Flex » Wed May 05, 2010 4:21 pm

fuzzygeek wrote:GM is a banking institution as well.


GMAC is, GM isn't.
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Re: GM paying back its government debt

Postby Fridmarr » Wed May 05, 2010 4:26 pm

Flex wrote:
fuzzygeek wrote:GM is a banking institution as well.


GMAC is, GM isn't.

And if I remember correctly GM owns very little of GMAC these days.
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Re: GM paying back its government debt

Postby Flex » Wed May 05, 2010 4:28 pm

Fridmarr wrote:
Flex wrote:
fuzzygeek wrote:GM is a banking institution as well.


GMAC is, GM isn't.

And if I remember correctly GM owns very little of GMAC these days.


21%
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Re: GM paying back its government debt

Postby fuzzygeek » Wed May 05, 2010 4:39 pm

Flex wrote:
Fridmarr wrote:
Flex wrote:GMAC is, GM isn't.
And if I remember correctly GM owns very little of GMAC these days.
21%


Good points. I don't know that 21% is non-trivial. I also don't know how much shell accounting is going on.
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Re: GM paying back its government debt

Postby Koatanga » Wed May 05, 2010 5:26 pm

Erendis wrote:The problem I have is this is still the country with the least oppressive government so I can't go anywhere that is better. ><

Maybe some day New Zealand will relax its immigration laws - you can always have hope :)
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Re: GM paying back its government debt

Postby Arcand » Wed May 05, 2010 9:25 pm

Koatanga wrote:
Erendis wrote:The problem I have is this is still the country with the least oppressive government so I can't go anywhere that is better. ><

Maybe some day New Zealand will relax its immigration laws - you can always have hope :)


Americans calling their government oppressive makes me think of middle class teenagers sitting in their rooms, writing in their diaries about how cruel the world is.
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Re: GM paying back its government debt

Postby Levantine » Wed May 05, 2010 9:28 pm

American's calling their government the least oppressive around makes me think of howler monkeys, but that might just be because apparently I live next door to a pack (so what's the group noun for howler monkeys again?) of them.
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Re: GM paying back its government debt

Postby Arcand » Wed May 05, 2010 9:30 pm

Of three websites about collective nouns, one listed 'tribe' and all three listed 'troop'.

That's for monkeys. I seem to remember that apes had enough distinctive behaviors that they
had their own word, but boinked if I can remember it now.

Edit: Looks like gorillas come in bands.
Last edited by Arcand on Wed May 05, 2010 9:35 pm, edited 1 time in total.
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Re: GM paying back its government debt

Postby Levantine » Wed May 05, 2010 9:32 pm

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Re: GM paying back its government debt

Postby fuzzygeek » Wed May 05, 2010 10:53 pm

Arcand wrote:
Koatanga wrote:
Erendis wrote:The problem I have is this is still the country with the least oppressive government so I can't go anywhere that is better. ><

Maybe some day New Zealand will relax its immigration laws - you can always have hope :)


Americans calling their government oppressive makes me think of middle class teenagers sitting in their rooms, writing in their diaries about how cruel the world is.


I think you missed a "least" in there, maybe?
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Re: GM paying back its government debt

Postby Arcand » Thu May 06, 2010 7:52 am

No, I saw it. I think the statement "My government oppresses me less than any other country would" contains the meaning "My government oppresses me", and that's the part I consider absurd. It's a cheap and facile use of the word when you consider the lives some other human beings have had.
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Re: GM paying back its government debt

Postby thegreatheed » Thu May 06, 2010 10:44 am

Arcand wrote:
thegreatheed wrote:No, GM and Chrysler won't have to pay this tax. Even though they HAVEN'T paid back their full TARP loans, but what do you expect, our government owns majority shares in them.


It sounds like you heard about this tax on banking institutions, and then were outraged to learn that it wouldn't fall on GM and Chrysler.

If that's not the case, I'm not sure why these two rants are expressed as one continuous idea.

No, the continuous idea is that the tax is being passed off as being a recovery tax on TARP funds, even though it clearly isn't. The tax is pointed directly at TARP eligible institutions, sans GM and Chrysler.
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Re: GM paying back its government debt

Postby Arcand » Thu May 06, 2010 12:10 pm

The last thing I read about this was weeks ago, but it sounded like they wanted to set up a fund with the taxed money to cover future bank meltdowns. It sounded like forcing the huge banks to have fuckup insurance.
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Re: GM paying back its government debt

Postby Fridmarr » Thu May 06, 2010 12:23 pm

Arcand wrote:The last thing I read about this was weeks ago, but it sounded like they wanted to set up a fund with the taxed money to cover future bank meltdowns. It sounded like forcing the huge banks to have fuckup insurance.

It's just more of the gov't picking winners and losers. In this case it really kind of stinks because the government was every bit as culpable, and now they are going to "regulate" a fix without any real reforms on their side. Maybe the people will force some reforms this November.

Anyhow, this fix, of course being a tax, is only aimed one portion of the problem. Why shouldn't all companies be forced to carry this fuckup insurance? I mean if you lose your job because your company goes tits up, does it really matter if it was a large or small company? Lately we seem to legislate more and more from a perspective of groups of people, even if that means stepping on individuals, which seems to be the counter to our legal fundamentals.
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Re: GM paying back its government debt

Postby thegreatheed » Thu May 06, 2010 1:39 pm

Arcand wrote:The last thing I read about this was weeks ago, but it sounded like they wanted to set up a fund with the taxed money to cover future bank meltdowns. It sounded like forcing the huge banks to have fuckup insurance.

Well, it's the government forcing the banks to have meltdown insurance to cover bad loans mandated by the government. It's a pretty vicious cycle, imo. The CRA forces banks to offer loans to unqualified minorities, undocumenteds, low income applicants, etc. These loans go belly up. The government bails them out, adds on taxes to cover future repetitions of the cycle. I'm not entirely sure how the private banking industry is supposed to recover while being forced to make the same bad loans, and being burdened by more taxes at the same time.
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