Timing of Gov't Sale of GM Stock Questioned

Discussion in 'Too Hot for Swamp Gas' started by chemgator, Apr 16, 2014.

  1. chemgator
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    chemgator Well-Known Member

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    http://finance.yahoo.com/blogs/brea...land-a-hedgie-in-prison--macke-173714670.html

    What did the government know and when did they know it? Gov't sells last of GM stock in December, and information about GM's cars killing people goes public in January. Coincidence? You would have to pretty gullible to think so. Did the gov't hear about the issue and decide to sell early, or did the gov't convince GM to keep a lid on the issue until January? How many people died unnecessarily while GM was keeping a lid on this issue? Were the gov't watchdogs persuaded to keep quiet as well?

    This is what happens when the gov't gets involved in the affairs of private enterprise. And guess what? GM is still "too big to fail". Chalk one up to Obama's inexperience and gross incompetence, I guess.
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  2. g8orbill
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    g8orbill Gators VIP Member

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    do you really think anything this regime does is coincidental
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  3. MichiGator2002
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    MichiGator2002 VIP Member

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    Well, Obama fires one GM. Then he hires another one who comes in and is there long enough to warm his seat and then flees with a severance package. Then the current one is put in. Then the government sells its holdings (which, dammit, never should have had). Somewhere in there, the ignition problem was either learned of or acknowledged, the illicit swap of the part without a recall takes place, and the government sells its holdings (losing us money, but surely not as much as it might have eventually), and then the fit hits the shan with the recall.

    You tell me what they learned and when. Seems to me like somewhere during Whatshisface's tenure the call got made to swap the part and proceed without a recall but he hits the silk with his millions, and the government gets out ahead of this whole thing being public... rare good fortune, or did they just know?

    Basically the federal government, spanning the end of one administration and well into this one, is as hip dip in this mess as any white collar crook who traded inside or defrauded the public (Madoff, Lay, etc) ever was. But it just... doesn't even come up, it's not even part of the story.
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  4. Gatorrick22
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    Gatorrick22 Well-Known Member

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    This clown in our White House is acting just like his commie friend Putin is. He thinks we can't see his fingerprints all over this GM debacle..
  5. busigator96
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    busigator96 Premium Member

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    Don't forget about GMAC (Ally Bank) going public!
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  6. Gatorrick22
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    Gatorrick22 Well-Known Member

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    And all the share holders that weren't GM employees? What happened to their stocks?
  7. chemgator
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    chemgator Well-Known Member

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    More good news for GM:

    https://autos.yahoo.com/blogs/motor...-reveals-more-sins-of-the-past-145904581.html

    Apparently the recalls in the OP were not the only ones that Obama, I mean GM, was keeping a lid on. At some point, this could be embarrassing. Even NHTSA was aware of some of the issues, but chose not to rock the boat (in stark contrast to the Toyota issues, where they tried to overturn the boat). In the long view, I'm sure Obama is hoping that GM can make it to 2017 before asking for their next bailout. The impact on GM's already fragile reputation for car quality can only be devastating. I only hope that we have a republican president that gives GM what they deserve in their bailout proceedings.

    It is readily apparent to me that GM has grown too big to succeed. It is (past) time to break the company up into its divisions, and let each one fight for its own survival.
  8. wygator
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    wygator Well-Known Member

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    And the bondholder's legal claim on first debt positions were swept aside as well...
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