Gm ipo

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Originally Posted by CosmicCowboy

No wonder you love your President so much.

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No wonder the bondholders took both shitloads of free money.

BTW, unlike GM, I'm pretty confident the banks will eventually repay their TARP money.

Fuck the banks and fuck GM.

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Originally Posted by CosmicCowboy

BTW, unlike GM, I'm pretty confident the banks will eventually repay their TARP money.

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And?

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Originally Posted by ChumpDumper

And?

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I used proper punctuation with a period at the end.

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Originally Posted by CosmicCowboy

I used proper punctuation with a period at the end.

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So that's it?

I believe neither will be paid back in full, it won't be anywhere near the $800 billion that people will still insist it costs from here on out.

As if being paid back makes it all better.

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Originally Posted by Marcus Bryant

Fuck the banks and fuck GM.

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I agree. The problem was the other 40% or so of bondholders that weren't banks that got sold down the river. The banks were mostly speculating and bought the bonds at a severe discount when GM got in trouble. After all, they were theoretically senior secured debt. The little conservative investors that bought AAA GM bonds for their retirement funds at face were the ones that got well and truly fucked.

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Originally Posted by Marcus Bryant

As if being paid back makes it all better.

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16% of the advertised cost is better than 100%

"Fuck the banks"

You Can't Touch This, you can't fuck the banks.

They have all the power, they run the country, and they aren't finished fucking citizens.

They have hired the Repugs to privatize SocSec, Medicare, Medicaid. And that will make it more expensive for less service rendered.

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Originally Posted by CosmicCowboy

I agree. The problem was the other 40% or so of bondholders that weren't banks that got sold down the river. The banks were mostly speculating and bought the bonds at a severe discount when GM got in trouble. After all, they were theoretically senior secured debt. The little conservative investors that bought AAA GM bonds for their retirement funds at face were the ones that got well and truly fucked.

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How would they have made out in a regular bankruptcy?


Numbers please.

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Originally Posted by ChumpDumper

16% of the advertised cost is better than 100%

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So you get mugged and have $100 in your wallet. The thief takers $85 and leaves you $15.

In Chumps world this is OK?

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Originally Posted by CosmicCowboy

So you get mugged and have $100 in your wallet. The thief takers $85 and leaves you $15.

In Chumps world this is OK?

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Actually I would have kept $85.

I guess those tests weren't in math, eh?

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Originally Posted by ChumpDumper

16% of the advertised cost is better than 100%

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So it's relatively better and that means something? Absurd.

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Originally Posted by ChumpDumper

How would they have made out in a regular bankruptcy?


Numbers please.

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There was 27 billion of senior secured debt. I'm pretty confident that GM could have been sold off in parts for more than that.

If you don't believe it was worth 27 billion last year how the hell can you claim it's worth 60 billion now?

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Originally Posted by Marcus Bryant

So it's relatively better and that means something? Absurd.

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Relatively better means relatively better.

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Originally Posted by CosmicCowboy

There was 27 billion of senior secured debt. I'm pretty confident that GM could have been sold off in parts for more than that.

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What is your evidence of this?

Hey, as long as you're paid for it that doesn't make it theft.

Fucking stupid.

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Originally Posted by Marcus Bryant

Hey, as long as you're paid for it that doesn't make it theft.

Fucking stupid.

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Losing $15 is better than losing $100.

That's all I said.

Do you disagree with this?

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Originally Posted by ChumpDumper

Actually I would have kept $85.

I guess those tests weren't in math, eh?

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You make absolutely no sense.

The bondholders gave up 27 Billion for 10% of a company that in the rosiest of estimates is now worth 60 Billion. that makes their share worth 6 Billion.

You call that getting back the majority of the money?

I disagree that it's worthy of positing. Hey Jethro, we's got paid back! In full. That means it wuz great!

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Originally Posted by CosmicCowboy

You make absolutely no sense.

The bondholders gave up 27 Billion for 10% of a company that in the rosiest of estimates is now worth 60 Billion. that makes their share worth 6 Billion.

You call that getting back the majority of their investment?

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We're talking about TARP in total.

Try to keep up.

Thanks.

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Originally Posted by Marcus Bryant

I disagree that it's worthy of positing. Hey Jethro, we's got paid back! In full. That means it wuz great!

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That means it wasn't as bad as most will continue to claim.

So you agree that it was better and I am the superior human being. /chump

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Originally Posted by ChumpDumper

We're talking about TARP in total.

Try to keep up.

Thanks.

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I'm talking about the other 40% of the bondholders that lost their retirement savings and didn't get TARP like the big banks.

YOU try to keep up, CHUMP.