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Bail-out refunds - repaid along lines of Ponzi scheme?





deanhills
Couldn't but help thinking about Obama's undertaking of complete transparency of accounts. Max Keiser did some research and found that the bail out refunds were being repaid along the lines of a Ponzi scheme. Is that true?
jwellsy
Wow, a 25 min YT video. I thought they capped them at 10 min.

Thanks for sharing that. I have never seen Max Keiser or Micheal Kreager before. I enjoyed their discussion on the possibility that China or some other country could go to a gold standard currency and how that would trigger a tidal wave of money into their banks.

As for GM, I've heard from several sources that they repaid only the initial bailout money with the subsequent waves of stimulus money.
GM closed a significant number of dealerships and brands.
Many people have vowed to never buy another GM

Do you really think they sold enough cars to make enough profit to payback anything?

What might have happened if the government hadn't given them all that money? They would not have have closed their doors, folded up their business and sent everyone home. Bankruptcy laws prevent that. A judge would listen to all sides and force the company to renegotiate all contracts with lenders ,vendors and labor unions.

The entire thing was a ponzi scam to protect union interests.
deanhills
jwellsy wrote:
Do you really think they sold enough cars to make enough profit to payback anything?

What might have happened if the government hadn't given them all that money? They would not have have closed their doors, folded up their business and sent everyone home. Bankruptcy laws prevent that. A judge would listen to all sides and force the company to renegotiate all contracts with lenders ,vendors and labor unions.

The entire thing was a ponzi scam to protect union interests.
Exactly. And this is a symbolic situation of the Bank Bail outs as well. They were supposed to be saved, so that the people in the street could be saved, but they have grown in such large corporations, very far removed from normal people, I'm almost certain their bail-outs went exactly the same way.

I had not heard of Keiser before either. I really like Michael Krieger's input however. I can understand what he is saying when he is talking about the economy. When Obama and all the his economic advisors are talking, I can't figure out exactly what they are trying to say, and that is precisely what they probably would like me to think. Smile
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