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Go Back   Armchair General and HistoryNet >> The Best Forums in History > Happening Now > Politics Central

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Politics Central Discussion of current and exclusive political nature takes place here. .

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  #46  
Old 10 May 12, 18:16
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Originally Posted by The Doctor View Post
Mourdock opposed Obama's theft of ~$5 million from retired Indiana State Police officers and redistribution of those assets to the UAW.
Retired Indiana State Police officers bought those assets in July 2008.
  • Chrysler lost at least $1.48 billion in 2007
  • Chrysler lost at least $400 million in Q1 2008.
  • Sales were down 30%
  • They'd just lost #3 to Toyota
  • They hadn't made a dime in years.
  • Analysts were predicting doom and gloom for the rest of the year...without a recession hitting!!
They were vultures or morons.


Obama was being nice when he called them "speculators".
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Last edited by Crash; 10 May 12 at 18:21..
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  #47  
Old 10 May 12, 18:53
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Originally Posted by Crash View Post
Oh sorry...Scott Brown wants to reduce benefits to sick and old people...and if he can't he's going to make the students of his state pay until he can..

Sound better to you?
Nope. The proper way to put it would be: "Scott Brown wants to stop taking money from people that earned it and giving it to people that didn't earn it.....and he also wants to stop giving people with nominally zero credit extremely low interest loans at the expense of people who are earning money....and rather give them low interest loans."

I see no issue with returning Stafford Loans to their Statutory Rate. You signed the line saying you were receiving a LOAN that would have to be paid back with INTEREST at X rate.....not that you were receiving a loan with an interest rate unheard of outside of savings accounts. Having to actually pay a BILL would do our 99%ers some good, as they obviously don't understand that signing the line on a Loan is not free money.

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Originally Posted by Crash View Post
Oh...look over there...Elizabeth Warren isn't an Indian!
Don't know....Don't care.
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  #48  
Old 10 May 12, 19:17
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Originally Posted by The Doctor View Post
Abject nonsense.

The Chrysler bondholders were forced to take the deal by the bankruptcy judge.

Both Chrysler and GM had more than sufficient cash flow from ongoing operations to remain going concerns throughout a normal bankruptcy process. They simply lacked the means to maintain operations and service debt and other long-term obligations. A proper bankruptcy would have shielded them from their creditors while a just process transpired...

Hahahah...they had enough cash flow to handle concerns...well...except for maintaining operations...

If they did, as you say, then why did they need to borrow $17 billion from the government in Dec 2008?? The fact is your claim has no basis in reality.


92% of Chryslers secured debtors approved the $0.29% deal.
Nothing prevented them from selling off the assets themselves....if they didn't like it they didn't have to take the deal.

Wall Street, specifically, whom controlled over 80% of Chrysler debt, agreed. Why did they do that..because they knew that was the best they could do under ANY circumstance.

Wall Street held 6.9 billion and the dissenting group held $300 million. The Retired Indiana State Police officers were forced into the deal by Wall Street...the majority credit holders and not by the US Government...the moment the majority secured creditors put their pen on the paper.

If the bankruptcy court had overturned the deal he would have overturned the majority secured debtors wishes.

Mourlock's pals got in bed with Wall Street and then realized the bed didn't come with sheets....thought they had a say when they only chipped in $42 million in a bed that cost $6.9 billion....and were surprised they ended up screwed?

Like I said, IMO the Retired Indiana State Police officers Pension Fund Managers were either vultures or morons. IMO Obama was being nice when he called them "speculators".

92% of Chryslers secured creditors APPROVED the deal.

Mourlock is a moron if he believes he could have done better.

Bush and Obama saved Chrysler and GM.

Contrary to his claims...Romney did nothing.
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Last edited by Crash; 10 May 12 at 20:46..
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  #49  
Old 11 May 12, 03:27
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