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GM Paid Back Money With More Bailout Money

Mike

Well-known member
A handful of lawmakers are accusing General Motors of misleading the public by continuing to claim as part of its advertising blitz that the auto giant has repaid its government loans "in full."

General Motors has been running ads on all the major networks claiming the company repaid its $6.7 billion U.S. government loan "with interest five years ahead of the original schedule." General Motors Company CEO Ed Whitacre can be seen in the ad walking through an auto plant as he touts the company's progress.

But lawmakers, and even the inspector general for the bailout fund GM borrowed from, point out that General Motors only repaid the bailout money by dipping into a separate pot of bailout money. They say the company did not actually use its own earnings to make the early payment and are questioning why executives are making such a big deal out of it.

"The hype is not the reality," Sen. Charles Grassley, R-Iowa, wrote in a column on FoxNews.com over the weekend. "It is far from clear how GM and the Obama administration could honestly say, much less trumpet in prime time television ads, that GM repaid its TARP (Troubled Asset Relief Program) loans in any meaningful way."

Grassley wrote a letter last week to Treasury Secretary Timothy Geithner expressing his concerns and asking for more information about why the company was allowed to use bailout money to repay bailout money.

The $6.7 billion is also just a fraction of the $52 billion General Motors received in government aid. Grassley said lawmakers are being told government losses on GM are expected to exceed $30 billion.

The TARP inspector general, Neil Barofsky, bluntly told the Senate Finance Committee during a hearing last week that the repayment "is just other TARP money" and lawmakers should not "exaggerate" the feat.

"It sounds like they're kind of like taking money out of one pocket and putting it in the other to do that," Sen. Tom Carper, D-Del., said at the hearing.

Sen. Richard Shelby, R-Ala., expressed similar concerns Sunday on NBC's "Meet the Press," saying it's "misleading" for the administration to claim the company has paid back its loans.

The GM ad could potentially land the company in trouble with the Federal Trade Commission over its truth-in-advertising laws, which prohibit ads that are "likely to mislead consumers."

The FTC would not comment on the specific GM ad.
 

hypocritexposer

Well-known member
TARP under Bush had repayment deadlines and stipulations. Under obama it has become a slush fund, or revolving line of credit.

The financial reform bill will make bailouts of "too big to fail" a permanent program. They'll pick the winners and losers.

Corporatism, plain and simple.
 

don

Well-known member
hypo instead of laying the blame at the feet of obama why don't you look at things more pragmatically and say this is just the way things are done regardless of who's in office? your credibility sinks with this obsession you have. this is just the way it's done in the usa and a lot of other countries. politics over good government and you're one of the cheerleaders.
 
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Anonymous

Guest
don said:
hypo instead of laying the blame at the feet of obama why don't you look at things more pragmatically and say this is just the way things are done regardless of who's in office? your credibility sinks with this obsession you have. this is just the way it's done in the usa and a lot of other countries. politics over good government and you're one of the cheerleaders.

I am not Hypo but obama is one of the most deceitful presidents in American history as well as one of the most deceitfull political figures in world history.

So there is nothing wrong with Hypo calling an ace an ace and the spade the spade!
 

don

Well-known member
and as the usa continues to decline people as blind as you will be to blame and will continue to scream that it is somebody else's fault. read a little history and see where you're headed.
 
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Anonymous

Guest
don said:
and as the usa continues to decline people as blind as you will be to blame and will continue to scream that it is somebody else's fault. read a little history and see where you're headed.

Don lets see if you get it. When politicians who have no fear of the public because they have rigged the elections and built up war chests of money as well as info on their oponets its not the average Americans fault.

The education systems are run by the wicked from the left. So they educate the public that we will give you this and care from you cradle to grave. The majority of those on public aid wish to stay there.

al sharptons and jesse jacksons live like rich kings off of funds they have dupped their contituents they are supposed toi represent out of. obama falls n right in line with them.

The sad thing you don't see is there really is a reason for the way things are lining up. It's called END TIMES OR THE DAY OF THE LORD'S SOON APPEARING! With all of this at hand those that believe are to keep going on fighting the goodn fight. Living like there will be a tommorow yet all the while knowing sooner rather than later there will be no tommorow.

Don there is a book that foretold all of what is happening. That book says that soon and very soon the world's people will cry out for a leader. It says they will accept and cry for a leader be he man demon or beast.

The only true way to come out of any of what is happening alive is to be PRAYED UP AND PAID UP. With all of that said we are not to stick our heads in the sand and wait. The BOOK I AM talking about says fight the GOOD FIGHT. :wink: :lol:
 

hypocritexposer

Well-known member
don said:
hypo instead of laying the blame at the feet of obama why don't you look at things more pragmatically and say this is just the way things are done regardless of who's in office? your credibility sinks with this obsession you have. this is just the way it's done in the usa and a lot of other countries. politics over good government and you're one of the cheerleaders.

Don, I've said before they are one in the same. The point of my post was the progression or incrementalism.

So now it's my just repetition of the truth that is damaging my credibility? What ever happened to being a foreign spy and the sexual harrassment that I was accused of, previously.

I wonder who's credibility has been damaged? I've been telling the same truth, since I became a member here.
 

hopalong

Well-known member
hypocritexposer said:
don said:
hypo instead of laying the blame at the feet of obama why don't you look at things more pragmatically and say this is just the way things are done regardless of who's in office? your credibility sinks with this obsession you have. this is just the way it's done in the usa and a lot of other countries. politics over good government and you're one of the cheerleaders.

Don, I've said before they are one in the same. The point of my post was the progression or incrementalism.

So now it's my just repetition of the truth that is damaging my credibility? What ever happened to being a foreign spy and the sexual harrassment that I was accused of, previously.

I wonder who's credibility has been damaged? I've been telling the same truth, since I became a member here.

Looks like don's reputation is losing creditbility faster than a falling rocket as he continies to condem everyone who has a dislike for obama,

Don you hate for the USA is obvious and I for one am damned glad you do not live here!!!
OK now take your best shot at me don,because your best is not good enough :wink: :wink: :wink:
 

don

Well-known member
hopalong after i read what people like you post i have to remind myself of the good things the usa has done. you personify all the bad about america. if i have no credibility with you it is only because you are so narrow minded that you can't comprehend what i am saying. pig farmer take all the comfort from the bible you want but eventually you'll have to justify what you say. hiding behind religion is not faith.
 
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Anonymous

Guest
don said:
hopalong after i read what people like you post i have to remind myself of the good things the usa has done. you personify all the bad about america. if i have no credibility with you it is only because you are so narrow minded that you can't comprehend what i am saying. pig farmer take all the comfort from the bible you want but eventually you'll have to justify what you say. hiding behind religion is not faith.

Don you are kind of real messed up. I don't hide behind religion matter of fact I DON'T PRACTICE RELIGION. I BELIEVE the BIBLE as the TRUE WORD OF GOD ALMIGHTY. CREATOR of HEAVEN AND EARTH!.

MY faith sustains me. Through that faith I STAND UPON ALL THE PROMISES in THE HOLY WORD OF THE DEVINE CREATOR.

My faith allows me to live and understand the unlearned people of the world. My faith also allows me to work not for earthly treasures but rather treasures that don't rot, burn, or will never pass away. These treasures I WORK FOR CANNOT BE STOLEN FROM ME only GOD CAN GIVE THEM OR TAKE THEM AWAY.

My faith allows me to forgive those who trespass against me and to love everyone.

You see Don I don't hate the homosexual pedofile or thief. Instead I FEAL SORRY FOR THEM LOVE THEIR SOUL HATE THE SIN AND PRAY FOR THEM. Faith motavates all of the above religion is a placard!

A religious man will stand guilty before GOD AND END UP CONDEMNED TO HELL. A righteous man will live by faith according to the word and love everyone as we all were created by GOD AND EVERY FAULT OR SIN WE COMMIT IS BY CHOICE.

Our faith leads us one of two ways choices are made by what faith we have and how strong the faith we have is.
 

don

Well-known member
seems i struck a nerve.

from another thread. pig farmer:

Hopy nono just got back from frisco. Be patient with the boy hes full of treats right now.

Probably suffering from being kane/ed one to many times!

does your book suggest you make comments like that?
 
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Anonymous

Guest
don said:
seems i struck a nerve.

from another thread. pig farmer:

Hopy nono just got back from frisco. Be patient with the boy hes full of treats right now.

Probably suffering from being kane/ed one to many times!

does your book suggest you make comments like that?

You for sure did not strike a nerve don. Rather you lack somethings when it comes to understnding the difference in religion and faith.

The ones that put JESUS TO DEATH WERE RELIGIOUS.

Now concerning nono. Hes a name on here that merely shows his name as nono and is a provocitor. Many times his actions and postings lean towards what I said to him/her which ever it is. I never cursed nono like nono does openly in many threads I simply made light of his/her postings based on many things typed by nono in times past.

For the record Don I simply tossed a sense of humor back at nono based on non's prior posting towards me. I did no slay or slur nono's character on here nono does that his self everytime he posts.
 
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