GM Lies About Paying Back Bailout 'Loan'

[SAMSON123]

OK here is the first article that is the source of all this.

http://detnews.com/article/20100419/AUTO01/4190396/1148/rss25?utm_source=twitterfeed&utm_medium=twitter

"GM expected to repay fed loans Wednesday"

GM got a $50 billion loan. $43 billion of that was forgiven in return for 61 percent equity - a majority ownership share.

They previously paid $2 billion of the $6.7 billion in U.S. loans, and about $400 million of $1.4 billion in Canadian government loans.

It now owes $5.8 billion to both countries and is going to pay that part "under an agreement with the Treasury Department by tapping unused Treasury funds that are being held in escrow".

So, they borrowed $50 billion, $43 billion was forgiven, $2 billion was paid, and the remaining $5.8 billion is being paid WITH WHAT IS LEFT OF THE ORIGINAL $50 BILLION LOAN.

Presenting this as "GM has paid back all that it borrowed from taxpayers" is total bullshit.

http://www.crazyontap.com/topic.php?TopicId=69635&Posts=16

[tonymctones]

LOL without a doubt

use tax payer money to pay off tax payer loans, make a commercial and waalaaa...

[Straw Man]

this was reported on NPR

definitely not a well kept secret

[BM OUT]

Who is to blame?Well since Obama runs the f.n company and owns 60% and decides who is CEO the blame is on him!!He is the liar trying to dupe the American public.

[Straw Man]

Who is to blame?Well since Obama runs the f.n company and owns 60% and decides who is CEO the blame is on him!!He is the liar trying to dupe the American public.

how do you figure Obama runs the company?

[Soul Crusher]

US Govt owns most of the stock. 

[BM OUT]

how do you figure Obama runs the company?

HE decided to fire the CEO and HE put the new CEO in there and HE decides how much the CEO makes and HE decided that the filthy lazy ass UAW would have a place at the table in running it.He owns 60% of the company.So lets review,he owns 60% of the company and dictates what goes on there what other possible conclusion can you come up with?

[Straw Man]

HE decided to fire the CEO and HE put the new CEO in there and HE decides how much the CEO makes and HE decided that the filthy lazy ass UAW would have a place at the table in running it.He owns 60% of the company.So lets review,he owns 60% of the company and dictates what goes on there what other possible conclusion can you come up with?

Obama personally owns 60% of the company?

really?

btw - this story was out last week and the White House knows full well that it's spin by GM but it makes them (the Administration look good).    There's no way Obama (or Gibbs) is going to go out and criticize GM or point out the fact that they paid back a loan of ~ 7billion but haven't paid back the other 60 billion or so that wasn't a loan.


again - this is not a secret

[BM OUT]

Obama personally owns 60% of the company?

really?

btw - this story was out last week and the White House knows full well that it's spin by GM but it makes them (the Administration look good).    There's no way Obama (or Gibbs) is going to go out and criticize GM or point out the fact that they paid back a loan of ~ 7billion but haven't paid back the other 60 billion or so that wasn't a loan.


again - this is not a secret

IM SAYING THE wHITE HOUSE IS BEHIND THE LIE!!

[Straw Man]

IM SAYING THE wHITE HOUSE IS BEHIND THE LIE!!

ok - well that's a nice CT

I doubt it's true but who knows

btw - it's still a spin job any way you look at it

[quadzilla456]

ok - well that's a nice CT

I doubt it's true but who knows

btw - it's still a spin job any way you look at it

Haha, yes it is not true. The WH would NEVER be behind something like this!!

Go USA!!!!!!

[BM OUT]

I also think,and this comes from Rush.The WH is against the Arizona law because they dont EVER want people to show ID because if that happens democrats cant steal elections anymore.The last thing they want is to have a law where you show your papers because the next step is showing papers at polling places and then the democrats cant steal elections.