Does that also include the GMAC bailout, the bad GMAC backed mortgages assumed
by taxpayers, cash for clunkers and unfunded UAW pension liabilities?
OR is this story another example of worthless government propaganda?
Posted on 04/21/2010 8:39:27 AM PDT by worst-case scenario
DETROIT — General Motors Co.'s CEO said Tuesday that the automaker has repaid the $8.1 billion in loans it received from the U.S. and Canadian governments, a sign that a plan to rebuild the company is working. GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans. The loan payback to the U.S. government comes five years ahead of schedule, and Whitacre said it is a sign GM is on its way toward reducing government ownership of the company.
(Excerpt) Read more at google.com ...
If the bank gave me $52 and i paid back $8, why could anyone say I repaid the loan?
"GM got a total of $52 billion from the U.S. government" "The U.S. considered as a loan $6.7 billion of the aid,"Sickening!!! They have not paid back jack-squat!!! They have effectively stolen from the taxpayer.
Translation: The crooked United Auto Workers just stole $44,000,000,000 from your children.
LOL, the USofA is one big ponzie scheme.
Why do we refer to it as GM, its true name is UAW. How about some honesty in advertising at least?
Yeah...well...NOW they owe ME!
Does that also include the GMAC bailout, the bad GMAC backed mortgages assumed
by taxpayers, cash for clunkers and unfunded UAW pension liabilities?
OR is this story another example of worthless government propaganda?
Does the $44 billion include the pension obligations they pawned-off on the PBGC?
I saw this on MSNBC and knew it had to be crap, thanks for the post. It got 52B from US and paid back 6.7B (debt cleared) and MSNBC (Ed Schulz) is bragging about a success story for the US taxpayers. He has been lying more and more to viewers on his show as things fall apart.
Am I understanding this correctly? The U.S. (us) gave them $52 billion, but we only considered $6.7 as a LOAN, and the rest of the $52 billion was a gift?
“I saw this on MSNBC and knew it had to be crap, thanks for the post. It got 52B from US and paid back 6.7B (debt cleared) and MSNBC (Ed Schulz) is bragging about a success story for the US taxpayers. He has been lying more and more to viewers on his show as things fall apart. “
When you watch MSNBC you have to pay the piper ;-)
“”GM got a total of $52 billion from the U.S. government”
“The U.S. considered as a loan $6.7 billion of the aid,””
So GM paid back the INTEREST. What about the 52 billion PRINCIPAL ????
I sure as heck can’t tell from reading the story. And this Q & A From Detroit Free Press doesn’t make matters any clearer:
http://www.freep.com/article/20100421/BUSINESS01/4210323/1319/Chrysler-lost-197-million-in-first-quarter
Well, if the loan officer was a crook, he could say you repaid the loan if you slip him some of the $52 the bank gave you.
Yep, you got it correct. Except they don't like to call it a 'gift' they call it 'aid.'
GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans.
Laughable.
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