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View Diary: GM IPO Underscores Success of Dem Policy (58 comments)

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  •  While I am delighted the autos got help, (2+ / 0-)
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    NearlyNormal, agent

    it was Bush that bailed out the autos.  Obama inherited it along with the banks.   GM and Chrysler both sound like they will make a successful turn around and that is good news for Michigan and the rest of the country.  Their jobs will be far fewer and pay much less, but they will create jobs.   The Lake Orion plant at its fullest employed 50,000 people.  After retooling, they expect it to be around 5,000.   Still, good news for MI and the nation.  Toyota is predicted to lose market share and so is Honda.   Serves Shelby right.    

    Don't tax the rich, starve the poor.

    by dkmich on Mon Nov 15, 2010 at 03:46:00 PM PST

    •  Obama provided $60 billion (10+ / 0-)

      Bush provided some assistance to the auto industry in 2008, but it would have gone down without the further assistance provided under Obama.

      •  Yes, Marc is right. Democrats deserve credit (6+ / 0-)

        for this.   And Nancy Pelosi, and her staff and leadership group, deserves special mention as she was the primary politician who listened to us advisors suggesting that GM and Chrysler provide more details of their plans, and added conditions to make the deal better for the taxpayer.

        The means is the ends in the process of becoming. - Mahatma Gandhi

        by HoundDog on Mon Nov 15, 2010 at 04:29:44 PM PST

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        •  Will they also take credit for (1+ / 0-)
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          US share holders being thrown under the bus by the canned bankruptcy? Now it seems that China is ready to buy up to 16% of the new GM IPO.

          "No man deserves to be praised for his goodness unless he has strength of character to be wicked." La Rochefoucald

          by Void Indigo on Mon Nov 15, 2010 at 06:03:29 PM PST

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      •  As angry at and as badly as he treated (0+ / 0-)

        the autos [when compared to the bankers], I'm not sure Obama would have done it if Bush hadn't of started it.   I was surprised to find out that Bush did it at all.   Bottom line and regardless who did what, it was a success - at least it appears to be so.  Jobs are rebounding at a good pace in MI.  It'll never be like before, but it is in the right direction for a change.  

        Don't tax the rich, starve the poor.

        by dkmich on Tue Nov 16, 2010 at 03:52:02 AM PST

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    •  Pre bankruptcy bailout- yes (1+ / 0-)
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      burrow owl

      But if my memory serves, the post bankruptcy auto bailout is entirely Obama's doing.

      I don't want to slam Bush too much on this score, but in hindsight the pre-bankruptcy bailout was am mistake. That's 20/20 hindsight of course. He did the right thing there given the circumstances.

    •  that's utterly false (1+ / 0-)
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      Bush provided a very small sum that delayed the disaster. Obama provided the significant debtor in posession financing and steered the company through bankruptcy.

      Of course on DKOS it is already common wisdom that TARP was Obama's program, so making the successful bailout of GM and Chrysler be Bush's makes sense, I guess.

      •  if you want a good reason to criticize Obama's (1+ / 0-)
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        team - that's it. Even here, people don't know about their accomplishments. They have relied on the media, for reasons I cannot imagine.

        •  The money bush gave them was a "gift".... (1+ / 0-)
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          citizen k

          like the gift he gave to the bankers.   The money Obama gave them was a loan.  Nobody is saying that Obama didn't help - he did, lots.   I was just surprised to learn that Bush also helped.   I also think it is a real possibility that Obama would have passed IF Bush hadn't of opened the door.  It took "courage" for them to help the autos in the lite of the right wing rhetoric, including on this blog, to let them die.  

          Don't tax the rich, starve the poor.

          by dkmich on Tue Nov 16, 2010 at 03:55:41 AM PST

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