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GM Did Not Really Pay Back Its Loan

Discussion in 'Politics, Elections & Legislation' started by wireguy, Apr 23, 2010.

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  1. wireguy

    wireguy TS Member

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    FROM RED STATE MORNING BRIEFING:

    Posted by Erick Erickson

    Thursday, April 22nd at 10:07PM EDT


    If you own a GM vehicle and they have your email address, you’ve gotten a nice email in the past few days that they paid back their bailout loan from the federal government.

    A lie. Well, technically true, but a lie.

    Turns out they took money out of one pocket and put it into the other. More precisely, GM took TARP money to pay off the auto bailout money and now must pay off the TARP money.

    Pfffft.

    GM, since being taken over by Obama, is now acting like the Obama administration.
     
  2. The Stive

    The Stive Member

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    Looks like they got pretty good at double speak. I wonder if they aiways had
    that ability or did they learn it from ol' Obamy John
     
  3. halfmile

    halfmile Well-Known Member

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    When in Rome...............

    HM
     
  4. EE

    EE Banned User Banned

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    Yes, but we have posters on here that think that due to that little twisted announcement that GM is free of it's debts to the US taxpayer and free of any government control in their business. You have to wonder if these guys can tie their own shoes.

    EE
     
  5. rlmims

    rlmims TS Member

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    I can tell you first hand GM did not just learn this trick from Obanation. They have used it for years. I worked for GM 23 years & Delphi (a spinoff from GM) 10 years. For that whole 33 years they promised health care & pension for salired retirees. But in the end we found that the money for retirement was not going where it was supposed to (in a retirement acct), it was used to supplement the upper managements pensions and bonus awards. And now that Obamanation owns 61% of GM he says tough luck.

    Lynn
     
  6. dbcook

    dbcook TS Member

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    while we are on the subject of repayment, how much money has everybody,s favorite ins company A.I.G.paid back? & i can,t imagine upper managemnt pension & bonus .what union did they belong to? they must have belonged to a union to receive bonus & pension money.dwain
     
  7. W.P.T.

    W.P.T. TS Member

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    Government Motors is trying to look good in the eyes of the American Public and this is one of the tactics they have been reduced to using which is outright deception ... They take a loan from one Government entity and pay off another one to make it appear that they are all of a sudden debt free ... This is one of the Oldest Tricks in the Books and is used by big business all the time to balance their bookwork and make them look like they are stable ... WPT ... (YAC) ...
     
  8. EE

    EE Banned User Banned

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    But there are idiots among us that continue to fall for this ignorant crap.....

    EE
     
  9. EE

    EE Banned User Banned

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    http://www.foxnews.com/politics/2010/04/23/gm-hot-water-ftc-truth-advertising/

    Looks like the FTC may look into it now, Walrus. But Obama runs that too, so don't look for it to go too far.
     
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