Comments on: GM repays loan to US… actually, not really (Update)

By: Deficit explodes in April 2010 by 4 times April's deficit in 2009 | Holeinthehull

Thu, 13 May 2010 14:37:31 +0000

[...] at 9.9%,. Two of three US automakers are still owned by the government and GM was caught lying to the American people that GM paid off its loans. Fannie Mae and Freddie Mac are jokes and [...]

By: How did GM pay off its bailout loans? | Laying It On The Line

How did GM pay off its bailout loans? | Laying It On The Line — Thu, 29 Apr 2010 04:25:06 +0000

[...] course there would never be any shenanigans going on with this repayment, would there? Everything has to be on the up and up or the media would be in an uproar. So I [...]

By: winnifredthewoebegone

winnifredthewoebegone — Sun, 25 Apr 2010 21:19:52 +0000

That’s it…I’ve had it…Knew the commercial was total bunk the minute I heard it, but now that I have the gory details I’m all for GM being blown off the face of the earth. The fact that the media was complicit in this dog & pony show by not digging enough to find out the actual truth behind the loan repayment only makes me more nauseous.
*throwing hands up in the air*…seriously, the whole thing makes me sick. They should have been allowed to FAIL! grrrrrrr…

By: GM Ponzi Scheme « Zombiehero's Blog

GM Ponzi Scheme « Zombiehero's Blog — Sat, 24 Apr 2010 02:25:54 +0000

[...] The backers of the bailouts to General Motors cried with triumph this week when the automaker announced that they had repaid their bailout loans ahead of schedule. That amounted to proof of the wisdom of government intervention, the argument went, and wondered aloud why bailout critics didn’t acknowledge their errors. Perhaps it’s because the government essentially got paid off with even more government money: [...]

By: GM Did Not Really Pay Back Its Loan | iPad World

GM Did Not Really Pay Back Its Loan | iPad World — Sat, 24 Apr 2010 01:06:49 +0000

[...] Turns out they took money out of one pocket and put it into the other. More precisely, GM took TARP money to pay off the auto bailout money and now must pay off the TARP money. [...]

By: Dimsdale

Dimsdale — Fri, 23 Apr 2010 16:05:24 +0000

Isn’t this like using one credit card to pay off another? Even if the rate improves, you still have the debt on your head!

By: Creative accounting from General Motors | Asian Conservatives

Creative accounting from General Motors | Asian Conservatives — Fri, 23 Apr 2010 14:50:09 +0000

[...] TARP credit line and use it to pay down the Treasury loan. That’s correct, the company used government money to pay a government loan, but all we read about was repaying the [...]

By: Hot Air » Blog Archive » How did GM pay off its bailout loans?

Hot Air » Blog Archive » How did GM pay off its bailout loans? — Fri, 23 Apr 2010 14:13:46 +0000

[...] didn’t acknowledge their errors. Perhaps it’s because the government essentially got paid off with even more government money: During an April 20 hearing on Capital Hill, Sen. Tom Carper, (D-Del.) asked some pointed questions [...]

By: Steve McGough

Steve McGough — Fri, 23 Apr 2010 13:29:49 +0000

During the day Wednesday and Thursday, many noted that GM was making a big deal about "paying off" their loan when in reality, they were only "paying off" a portion of the "loan." From The Oakland Press...

"At first the entire amount of U.S. aid was considered a loan as the government tried to keep GM from going under and pulling the fragile economy into a depression. But during bankruptcy, the U.S. government reduced the loan portion to $6.7 billion and converted the rest to company stock, while the Canadian governments held $1.4 billion in loans."

And now they used TARP money to "pay off" the $6.7 billion? Oh my...

By: Government Motors pays back government loan – um, er, not really « Da Mook

Fri, 23 Apr 2010 11:14:51 +0000

[...] bailout would work. But wait a minute, there’s something you’re not telling us. (story here) It was with great fanfare yesterday that General Motors announced that it was repaying some $4.7 [...]