Have you seen that commercial with Ed Whitacre telling us about GM paying off their loan 5 years early with interest? Yeah, about that
A top Senate Republican on Thursday accused the Obama administration of misleading taxpayers about General Motors’ loan repayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money.
Sen. Chuck Grassley’s charge was backed up by the inspector general for the bailout — also known as the Trouble Asset Relief Program, or TARP. Watchdog Neil Barofsky told Fox News, as well as the Senate Finance Committee, that General Motors used bailout money to pay back the federal government.
“It appears to be nothing more than an elaborate TARP money shuffle,” Grassley, the ranking Republican on the Senate Finance Committee, said in a letter Thursday to Treasury Secretary Timothy Geithner.
How ’bout them apples? Especially since GM is still losing billions. And We The People should probably not expect to see that money coming back to us.
teehee.. beat ya too the story. oh yeah. I did. I did. yes, I did. Booyah! Bout time I win one. ooooo that’s gotta burn, huh? Yeah, let me just rub that in a bit. mmmm doesn’t that just feel goooood.
now, back to my humble life.
I for one am stunned by this. I would never have thought that an organization or company run by the government would misrepresent something or leave a false impression of something to the American people.
Shocking. Simply shocking.
/sarcasm off