Mark’s Soap Box

The proof just keeps coming that Bailouts of failing firms DOES NOT work. Well Duh-huh.

GMAC comes begging for more money.

In a stark reminder of how some battered financial firms remain dependent on government lifelines, GMAC Financial Services Inc. and the Treasury Department are in advanced talks to prop up the lender with its third helping of taxpayer money, people familiar with the matter said.

The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into the Detroit company, on top of the $12.5 billion that GMAC has received since December 2008, these people said. The latest infusion would come in the form of preferred stock. The government’s 35.4% stake in the company could increase if existing shares eventually are converted into common equity.

Now that the Government has dumped OUR money into GMAC they are pretty much forced to keep dumping. If they don’t, they have to explain why. They don’t like explaining why, it’s easier to pretend they know best and are helping “too big to fail” firms.

Interesting how the “too big to fail” seem to be the ones that are failing.

You do have to give it to Obama. He applied the welfare model to business, and now he has them hooked just like the Dems hooked most Blacks over the last 100 years.

Wake up people, Socialism DOES NOT work.

Well they hate YOUR prosperity, not theirs. The newest stupidity perpetrated on our great Country will (well it should) make you wince.

Barney Frank (who’s “boyfriend” ran a brothel out of Barney’s house, who caused the collapse of the housing market) is now proposing that firms pay for the “wind down” of their competitors.

The Obama Administration and House Democrats, led by Barney Frank, are devising a plan for how to take over large companies that have run into problems like those that arose last fall. The plan would allow the federal government to take over all financial institutions, including non-banks, and inject money to facilitate an orderly unwinding, according to the Washington Post. The plan makes clear that creditors and shareholders would incur losses for the failing company and the financial industry will be taxed – much like power company is assessed a pollution tax — to help defray the cost of a bail out.

Picked your jaw up yet?

Yes Barney and his cronies at the White House want to make you par for putting your competitors out of business.

I have a way around this, keep the Government out of the “bail out” business and everything will work out fine. They won’t take my advice, they want power and don’t care who they destroy to get it.

BTW this program will be overseen by a Tax Cheat, Tim Geithner. Who can’t figure out TurboTax or how to read instructions to file his taxes correctly.

Death Panels for companies

The Hazards of ‘Barney care’

Once again Pravda (the news org in Russia, that used to be State controlled) says “America moving from Kingdom of Cash to Socialism, Slowly but Surely.”

If they can see it, why can’t you? Most Obama voters want Socialism even if they say they don’t. They know that Obama is a hardcore Marxist, and they agree with him that America is evil. Do you?

If you don’t, what are you doing about it?

After the Stimulus debacle, 49 of 50 states have FEWER jobs. Yea, that’s how you destroy America. Piss our money away to liberal Unions as a reward for supporting you. While doing this you ignore the one war you disagree with, and waffle on the one war you claim is legit, AND you party likes it 1999.

Only North Dakota has seen net job creation following the February 2009 stimulus. While President Obama claimed the result of his stimulus bill would be the creation of 3.5 million jobs, the Nation has already lost a total of 2.7 million – a difference of 6.2 million jobs.

Here is what the White House told us the Stimulus would do for our country. PDF at WH. As usual, they lied.

This is great. The lefty nutballs are all upset over this costume:

I want one! BTW, only idiots are offended by this.

Of course the usual gutless corporations, who pander to Islama-fascists and against Christians, pulled the costume. More reason to NOT shop at these places. The usual lefty hack journalist at CNN are on the job to promote the destruction of our country.

Most likely this costume was made in Mexico/Central America. Classic! Corporations fawn all over “Latino” (read Illegal Alien defenders who hate America) groups and cow-tow to their wishes which throws Mexicans/Central Americans out of work. This of course drives them here. Hmmm.

It seems to me that the group that should be upset are those from outer space. This points out how idiotic are the racist accusations by the haters in “Latino” groups.

I don’t here these same whiney-asses complaining about porned-out-Nun costumes. Considering that the vast majority of Hispanics are Catholic, that would seem a priority. Guess not, since it does not advance their leftist agenda of open borders.

If you are an Illegal Alien, GET OUT OF MY COUNTRY. You have not right to complain in my country because YOU SHOULD NOT BE HERE.