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Originally Posted by Fred Demara
that's the point...the reason GM needs a bailout is because no one was purchasing the "widget". In capitalism, we vote on a companies success with our dollars. Overwhelmingly, Americans, and the world have voted GM out of the car making business.
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As I understand it, GM is profitable outside the US. Also, I see lots of GM cars and suv's around. Their bread and butter stuff may be bland, but most people aren't enthusiasts.
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Originally Posted by Fred Demara
And in a capitalist system, when you file chapter 11, your pension is done. No rights, no wrong, no moral judgements - it's just the set of rules that define a fair market.
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If someone invests their career with the assumption of a pension and that pension is taken away too late for them react, I wouldn't consider that right morally. Practically, the gov ends up assuming the pension, although at lesser value, so you and I end up paying anyway. I'm not a lawyer, but thats my understanding.
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Originally Posted by Fred Demara
When the fed steps in and (against the majority of Americas wishes) MAKES us responsible for GM's success, when they have failed miserably, that is called communism.
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Hey, I'm on-board with the Peter Schiff thing, but GM is small potatoes compared with the wreckless Wall Street and home=ATM crowd.