I heard the recent commercial saying that GM has paid back their loan to the government, and I immediately suspected this to be a lie. After speaking to a friend he told me that they paid it off with more TARP money! I decided to do a little checking into this to see what was what and I found this article @ The Heartland Institute:
http://freedompub.org/profiles/blogs/liar-gm-ceo-ed-whitacre?utm_source=twitterfeed&utm_medium=facebook
Liar GM CEO Ed Whitacre
When I saw the GM TV commercial recently, w Big Fat (private jet flying) Liar GM CEO Ed Whitacre claiming GM had paid back his government Bailout loan, I threw up in my mouth a little bit, and then yelled at the idiot box, receiving, in the process, an evil glare and eye-roll from my wife. Last night, Beth's Aunt Jeannie was visiting and asked me about the same thing (has Glen Beck been on top of this?)Luckily, I didn't have to do a lot of research to confirm what I already knew ; that this "payback" doesn't count the 60.8% ownership stake the American govt took in the company for which taxpayers are still on the hook. What I didn't know was that they also got money from the Canadian govt, who now have a 11.7% Stake in GM, Making it more than 70% govt owned. And he's using your tax dollars to brag aboiut what a good job he's doing?
You can click on the link to read more of the article.
Here are a few more articles to support this:
http://www.foxnews.com/politics/2010/04/22/grassley-slams-gm-administration-loans-repaid-bailout-money/
http://radioviceonline.com/gm-repays-loan-to-us-actually-not-really/
I don't know about you but I would like the government to get out of the Auto industry totally and for GM to grow a set and actually pay off its loan and tell the government to go pound sand! Now that's the All Right Idea!