Thread: This Is Not A CraigsList Notice

Tweet

Quote from Dave

"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."

- - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - -

Dave, If I might comment on GM's miraculous(?) recovery:

I did a bunch of sniffing around. I can't give any specific sources for this, but all of it is verifiable.

The government coughed up 45 or 50 billion in TARP bailout money.

Well....... that, plus a few minor things that the so-called "mainstream media" says just about nothing about:

- A special exemption waiving payment of $45.4 billion in taxes on future profits.

- An exemption for all liability on cars sold before the bailout.

- $360,000,000 in stimulus funds.

- A share of the $15.2 billion "cash for clunkers" program.

And how 'bout the $7,500 tax credit for everybody who bought the wildly popular Chevy Volt.

Okay, that said, some loud rumbling concerning GM. This is from Forbes magazine:

General Motors Is Headed For Bankruptcy -- Again - Forbes

Who makes out like bandits in this whole sorry deal? The UAW.

WHOOPEE!

Jim