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View Full Version : GM paid back 6 Billion$ 5 years early..NOT



ripley699
04-22-2010, 08:03 PM
Yesterday GM and the Obama administration stated that GM paid back 6 Billion,5 years early.
They did not pay it back with money it earned. They paid it back with money from a different TARP money pool.
We ,the public were led to believe,and the Obama administration did nothing to clear up the "misunderstanding " .
While the adminisrtation did not mislead the American public,they did not speak up when they had the chance to ,,,to correct the "misinformation"
SOS

openboater
04-23-2010, 10:54 PM
What else would you expect from Obama Motors but lies and ......oh yea, more lies.

ripley699
04-23-2010, 11:15 PM
Really surprised me that they continue to show the same commercial today even after they have been shown to be low lifes .
I guess like Obama they have no class either

Captain Blight
04-24-2010, 10:56 AM
Cite with link or AP/Reuters/BBC article, please. Something that stands a reasonable chance of having been fact-checked. Not that I think that GM is above doing this, but I would like to read and find out for myownself.

Nanoose
04-24-2010, 10:59 AM
google is your friend

donald branscom
04-24-2010, 11:01 AM
Yesterday GM and the Obama administration stated that GM paid back 6 Billion,5 years early.
They did not pay it back with money it earned. They paid it back with money from a different TARP money pool.
We ,the public were led to believe,and the Obama administration did nothing to clear up the "misunderstanding " .
While the adminisrtation did not mislead the American public,they did not speak up when they had the chance to ,,,to correct the "misinformation"
SOS

GM still owes the American Taxpayers 45 BILLION!!! So a 5 billion dollar payment is just a start.

donald branscom
04-24-2010, 11:03 AM
Yesterday GM and the Obama administration stated that GM paid back 6 Billion,5 years early.
They did not pay it back with money it earned. They paid it back with money from a different TARP money pool.
We ,the public were led to believe,and the Obama administration did nothing to clear up the "misunderstanding " .
While the adminisrtation did not mislead the American public,they did not speak up when they had the chance to ,,,to correct the "misinformation"
SOS

You need to tell us your references of where you got this information or your accusations mean NOTHING. Get your ducks in a row before you pull the trigger RIPLEY699.

ALSO:

If the loan money was paid back, it is OUR taxpayers money being returned so that is GOOD. What is wrong with taking part of a loan and giving it back to the lender if you do not need it? See what I mean?

Your getting your feathers ruffled up for nothing.

Captain Blight
04-24-2010, 11:08 AM
GM still owes the American Taxpayers 45 BILLION!!! So a 5 billion dollar payment is just a start.

Yes, it is. It's a little better than 10%. I wish all my debtors paid it back so fast. So... Where's that cite I asked for, Ripley?

Captain Blight
04-24-2010, 11:12 AM
General Motors Paid Back Bailout Loans in Full
by Flexo on April 21, 2010
Earlier today, General Motors announced that the company paid $4.7 billion to the U.S. government and $1.1 billion to the Canadian government, fulfilling its obligation agreed to when it received its initial bailout funds. In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a loan. The company already paid back $2 billion, so this $4.7 billion is the last payment.

This doesn’t mean that “Government Motors” is no more. Despite the payback, the government still owns a controlling portion of the restructured GM. The United States will eventually relinquish its ownership, but this will take some time. Even when the new GM completes its initial public offering, the U.S. government will still be an owner for some time.Pulled off some blog.

So: Let me get this straight: Are you objecting to GM paying back its loans? OR that they aren't being asked to pay back what was given in return for stocks? Or that the whole thing happened at all? Or just that Mr Obama's name is on the whole thing?

S/V Laura Ellen
04-24-2010, 11:16 AM
From what I've read GM isn't paying pack anything. They are just transferring debit from one area to another.

It's seems to be the old shell game.

donald branscom
04-24-2010, 11:22 AM
From what I've read GM isn't paying pack anything. They are just transferring debit from one area to another.

It's seems to be the old shell game.

That is not a crime as far as I know. As long as they meet their loan repayment obligations.

They might have made the loan repayment to get publicity to keep the GM name on the publics' mind so they sell more GM cars.

The controversy IS the bonus publicity they wanted.

Garret
04-24-2010, 04:50 PM
From what I've found on the web (& the other thread in this forum) - it really is pretty much a shell game.

It seems that they are using a later set of TARP funds to pay off the earlier set. So, yes, they paid off the early loan, but (as a poster above said), it's a whole lot like using the Visa to pay off the Master Card.

Now, what BO has to do with this I'm not quite sure. I guess it was something OK'd while he is in office, but I haven't seen anything about his direct involvement.

http://blogs.cars.com/kickingtires/2010/04/how-did-gm-pay-off-the-loans-early.html

Sen. Grassely ain't happy about it (not without justification I think. Damn, did I just agree with something Faux News said? Must be monkeys have rewritten Shakespeare!): http://www.foxnews.com/politics/2010/04/22/grassley-slams-gm-administration-loans-repaid-bailout-money/

Paul Pless
04-24-2010, 07:31 PM
Where's that John Smith dude?:rolleyes:

Paul Pless
04-24-2010, 08:32 PM
> :D

Peter Malcolm Jardine
04-24-2010, 09:12 PM
He's composing a thread called "Democrats Pay Off the National Debt". :D


So I take it that you think the government should not have bailed out GM or the banking system?