GM repaying loan early....

[Binky]

Finally, some good news......

The Detroit News | detnews.com | Tuesday, April 20, 2010 | News ...
Apr 20, 2010 ... The Detroit News covers news, business, autos, sports, lifestyles and more in Metropolitan Detroit and all of Michigan in print, ...
detnews.com/ - 14 minutes ago - Cached - Similar
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[cat slave]

Does that mean the government is out of it now????? Did GM pretty much
buy it back from the gov??????

[LiberalNation]

less interest for us if they pay back early......

[Monkeybone]

not like we will see any of it Ln

[Mr. P]

They are only paying 5 billion of some 50 billion in their bail out..WE still own about 60% of GM if I understand it correctly.

[Binky]

They are only paying 5 billion of some 50 billion in their bail out..WE still own about 60% of GM if I understand it correctly.

I thought their bailout was around $12 billion. I hadn't heard it was 50 bill......

[crin63]

I won't buy another GM product for as long as our government is involved in the business.

[Trigg]

They are only paying 5 billion of some 50 billion in their bail out..WE still own about 60% of GM if I understand it correctly.

That's the way I read it also. GM also still ows Canada 8.1 million also.

It's wonderful that they've paid a major chunk back, but it isn't anywhere near all of it.

[Joyful HoneyBee]

It is fluff, kinda like putting whipped cream on a cow chip to make it look palatable . It looks good on the surface, but if you dig in then you find it is nothing but crap. However, it does serve as fertilizer to spread around the false sense that there is a lesser burden on the backs of hardworking Americans.

Oh well, people can call it good news if they want. I call it propaganda.

[Mr. P]

It is fluff, kinda like putting whipped cream on a cow chip to make it look palatable . It looks good on the surface, but if you dig in then you find it is nothing but crap. However, it does serve as fertilizer to spread around the false sense that there is a lesser burden on the backs of hardworking Americans.

Oh well, people can call it good news if they want. I call it propaganda.

Yep! Hey, it's about time emmett let you out of the kitchen! :poke:

[cat slave]

I won't buy another GM product for as long as our government is involved in the business.

We wont be buying any new vehicles ever! I plan to run my little S-10
right into the ground. Its a lot cheaper to fix it and keep driving it than
going in the hole for something that depreciates the minute it is registered.
How smart is that?

Wonder who is buying cars/trucks now! With 10% unemployment and
higher everything...no one I know!!!!!!!

[glockmail]

I was cleaning out the garage last night and heard an advertisement on the radio by the CEO of GM that they had paid back their "loan" 5 years ahead of schedule. I was skeptical of that then a friend emailed me an article this morning:


A top Senate Republican on Thursday accused the Obama administration of misleading taxpayers about General Motors' loan repayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money.

Sen. Chuck Grassley's charge was backed up by the inspector general for the bailout -- also known as the Trouble Asset Relief Program, or TARP. Watchdog Neil Barofsky told Fox News, as well as the Senate Finance Committee, that General Motors used bailout money to pay back the federal government.

"It appears to be nothing more than an elaborate TARP money shuffle," Grassley, the ranking Republican on the Senate Finance Committee, said in a letter Thursday to Treasury Secretary Timothy Geithner.

And of course Chia Biden is a fucking liar on the subject:


Vice President Biden on Wednesday called the GM repayment a "huge accomplishment."


http://www.foxnews.com/politics/2010/04/22/grassley-slams-gm-administration-loans-repaid-bailout-money/

How stupid do they think we are?

[crin63]

How stupid do they think we are?

Obama is POTUS, so pretty stupid!