Posted on 04/21/2010 5:32:15 PM PDT by uncommonsense
My thought on seeing that was that he is toast
Borrowing from Peter to pay Barfoffski
They have been playing it all day on the radio here in CA..
And all the pension responsibilities have been turned over to the gummint.
How about paying back all the employees in the closed GM dealerships?
According to Rush, they paid back 13% of the money because they fired 65,000 people and kept their pensions.
So how much do they still owe? 45 Billion?
Government Motors is still bankrupt.
“Everything about socialism is sham and affectation.” - 23.11 Ch23 Evil; Economic Harmonies; Frederic Bastiat 1801-1850
Do these people have no shame?
This whole move is so that Obama can claim the bailout worked, the government got paid back with interest and that his administration saved an American company with no cost to taxpayers. Naturally it follows that Obamanomics is working in all areas and we should buy in to this brilliant man’s agenda. The same game with the banks.
They may have paid back TARP money but simply used other credit lines. Money is still owed and any fool should recognize that GM has not netted enough cash to pay anyone back. They simply put the IOU note from one piggy bank to another.
I just saw an ad on TV where he said GM paid back the loan, in full, several years early.
Not that I would EVER buy a GM product...since it's owned by the UAW and US Treasury...but, still, to LIE to us?
Sheesh.
It was all a shell game for government to get their foot in the door. They’re doing the same now on Wall Street. It will be a Goldman Sachs takeover just like GM. Obama is setting it up so we’ll eventually have only one car company, one bank etc. Easier to control.
They’re banking on our suspending disbelief at the idea of a complete turnaround for GM (in a year’s time, no less!)when the unemployment rate doesn’t support a lot of vehicle buying. Of course, Obama’s supporters and others are easily snookered.
That poll about 80% of Americans distrusting government really shook ‘em.
http://www.twincities.com/ci_14932950
It isn’t until the 15th paragraph that this little nugget is disclosed:
“The U.S. government still owns 61 percent of GM. The automaker is counting on a public stock offering to allow the government to begin recouping its remaining $45.3 billion investment.”
Over 53 billion in monies owed and 8 billion is paid back is hardly debt-free. This repayment was due to the slashing of payroll via job cuts, nothing more than bankruptcy restructuring.
At the very least, former employess got to pay their Union Dues for years prior to getting the ax.
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