dagblog - Comments for "GM Owes the Country an Apology and at least $11.2 Billion"

I'd expect that in summer of

Flavius — Tue, 04 Dec 2018 04:46:18 +0000

In reply to Not saying we shouldn't have

I'd expect that in summer of 2009 one of team- Obama's objectives was to induce "the market" to take the wallet out of its pocket and move some of into the hands of ,say, auto companies. For things like starting the line to build chevys for the fall. Took cash.

While TO was saying "go ahead buy GM bonds"

it would have been diluted if combined with warnings about the punishments awaiting Waggoner or whomever. Which would have been a message to "Capital"

" No sense buying GM bonds tomorrow- might be

cheaper next week".

"I used to think if there was reincarnation, I wanted to come back as the President, the Pope, or a .400 baseball hitter.

But now I want to come back as the bond market. You can intimidate everybody." -- Presidential adviser James C. Carville, quoted in the book "The Agenda" by Bob Woodward

Not saying we shouldn't have

Michael Maiello — Mon, 03 Dec 2018 15:24:30 +0000

In reply to 3.2 25.0

Not saying we shouldn't have bailed out GM, necessarily. Saying we should have protected ourselves. Treasury shouldn't have sold at a loss and Gm shouldn't be laying off US workers now, as if nothing had happened.

3.2 25.0

Flavius — Mon, 03 Dec 2018 02:20:11 +0000

In reply to GM Owes the Country an Apology and at least $11.2 Billion

3.2 25.0

25.0 16.9

10.0 7.8

Top numbers:Hoover's Unemployment rate from taking over until 4 years later

Middle: FDR

Bottom Obama.Should he have done differently? Nah, it worked .The bottom didn't drop out like Heber Hoover .Had it, , Michael would have had a reasonable case . But it didn't.

The first objective of Presidents when employment is tanking surely is "don't make it worse". Obama didn't . Instead the the Summers /Geithner / Obama policies turned 10% into 7.8 % .

And 4.7% over the next 4.

Maybe he " wasted" the crisis We'll never know . Or whether trying to capitalize on it

would have moored the economy in the south. We do know that what Summers etc. and that

guy in the White House resulted in 4.7% instead of 25%.