Thread: This Is Not A CraigsList Notice

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My statement was that the blame needs to be passed around, same thing that went on during the Bush Administration!!!! The same Congressional Fat Cats that take care of themselves and their party first could have, should have taken some action to prevent these debacles. Congress, by the way, did approve the Gm Bailout, as well as many others.

Here's an excerpt from Wikipedia on the bailout.... Seems it depends (as usual) on which side you want to believe,

Quote:

United States
Although the Obama administration had initially provided the automaker five years to repay the money in full, in March 2010 GM made more than $2 billion in payments to the U.S. and Canadian governments and promised to pay the full balance of the loan portion by June. The company beat that self-imposed deadline when on April 21, 2010, GM CEO Ed Whitacre, Jr. announced that the company had paid back the entire amount of the U.S. and Canadian government loans, with interest, a total of $8.1 billion. The government still has $2.1 billion invested in preferred shares that pay dividends, plus a 61% share of common equity valued at about $45 billion to the U.S. and another $8.1 billion to Canada. Improved sales of new models are cited as improving the company's cash flow and allowing for the early payments. GM is also investing hundreds of millions in assembly plants in Kansas and Detroit, credited for preserving jobs.[95] A White House report sent to Congress in August 2012 estimated the sale of the remaining G.M. stock acquired by the United States Treasury during the company's bankruptcy will result in a loss of $25.1 billion to the American taxpayer.[96] The total cost to the taxpayer will be determined after the government sells its 26% stake in G.M. and its 74% stake in Ally Financial, formally known as GMAC, G.M.’s financing arm.
Some Republican congressmen were critical of the statement that GM had repaid the loan from TARP calling it a "lie to the American people". They say the money for the loan repayment came from other bailout funds housed in an escrow account belonging to the company. In a letter from Rep. Darrell Issa (R-CA) and Rep. Jim Jordan (R-OH) to Ed Whitacre, it is called an "attempt to disguise what is merely the exchange of one pool of taxpayer money for another pool of taxpayer money as 'real progress'". Senator Charles E. Grassley, Republican of Iowa called it a government-enabled “TARP money shuffle.”[97][98][99]
Because GM was mentioning the loan repayment in commercial advertising, the non-profit Competitive Enterprise Institute, a think tank funded by conservative groups such as the Koch brother's charitable foundations, said it filed a false-advertising complaint with the Federal Trade Commission.

Un quote......

By the way, after the Chapter 11 restructuring, GM is again a profitable company!

Just goes to show that their are two sides (at least) to every issue, just depends on who you want to believe. Stating other's opinions as some sort of fact does absolutely nothing to clarify an issue any more then here-say an innuendo prove a person guilty!

and here's a link to some interesting counters that show where way too much of our tax money and the loss of way too many lives goes on.....

http://costofwar.com/

Where are the anti-war protesters when we really need them????