GM Lies.

On the web,
Crazy On Tap - GM Lies About Paying Back ''Loan''!

I didn't type the URL because of so many people in there using so many
cuss words.
cuhulin

wrote in news:18364-4BD6543F-4023@storefull-
3172.bay.webtv.net:

> On the web,
> Crazy On Tap - GM Lies About Paying Back ''Loan''!
>
> I didn't type the URL because of so many people in there using so many
> cuss words.
> cuhulin
>
>


The Wall Street Journal had an editorial on this same thing, but with no
cuss words.

Apparently GM still owes the government $52 billion. GM was able to claim
that they'd "paid the government back" because the feds had reclassified
the $6-billion paid and the $52-billion unpaid in such a way that GM could
claim the $52-billion was not "owed" and thus did not count.

The upshot is that GM and the feds are being mendacious. Did you expect
more?

--
Tegger

Tegger wrote:
>
> wrote in news:18364-4BD6543F-4023@storefull-
> 3172.bay.webtv.net:
>
> > On the web,
> > Crazy On Tap - GM Lies About Paying Back ''Loan''!
> >
> > I didn't type the URL because of so many people in there using so many
> > cuss words.
> > cuhulin
> >
> >
>
> The Wall Street Journal had an editorial on this same thing, but with no
> cuss words.
>
> Apparently GM still owes the government $52 billion. GM was able to claim
> that they'd "paid the government back" because the feds had reclassified
> the $6-billion paid and the $52-billion unpaid in such a way that GM could
> claim the $52-billion was not "owed" and thus did not count.
>
> The upshot is that GM and the feds are being mendacious. Did you expect
> more?

Or maybe it is you that is incapble of being truthful.

The $52 billion to which you refer is presumably the total $50 billion
that was the US government bailout. $7 billion was a direct loan and $43
billion of that was given in exchange for GM equity, which is and never
has been the same as a loan. That is how come they have been labeled
"Government Motors" for the last 16 months, due to the government
purchase of this equity. It seems a little dishonest to claim you
thought this was really a loan and not a purchase of ownership stake in
the company which is what everybody else has been calling it from the
beginning.

The last I heard, at current market prices, if the government were
sell the equity shares to the public it should return about %8 billion
less than the purchase value. So the US taxpayers are at this point in
the hole for $8 billion on the total $50 billion bailout. It is expected
that at some future date the governments shares will be worth what they
taxpayers paid for them. If the value of GM continues to rise the
taxpayers may even make a profit.

-jim

> that at some future date the governments shares will be worth what they
> taxpayers paid for them. If the value of GM continues to rise the
> taxpayers may even make a profit.
>

(chuckles). Sure we will.

The POLITICIANS will make a ****ing profit. The working "Joe Blows" of
this country won't see one ****ing penny.

Chris

wearethegovtandweareheretohelpyou!
cuhulin

Hal wrote:

> > that at some future date the governments shares will be worth what they
> > taxpayers paid for them. If the value of GM continues to rise the
> > taxpayers may even make a profit.
> >
>
> (chuckles). Sure we will.
>
> The POLITICIANS will make a ****ing profit. The working "Joe Blows" of
> this country won't see one ****ing penny.

OK. this story is apparently mutating quite rapidly. It went from a $52
billion dollar loss to now tons of profits that the politicians are stuffing
in their pockets. Can't wait to get the next installment.

-jim

jim wrote:
>
> Hal wrote:
>
> > > that at some future date the governments shares will be worth what they
> > > taxpayers paid for them. If the value of GM continues to rise the
> > > taxpayers may even make a profit.
> > >
> >
> > (chuckles). Sure we will.
> >
> > The POLITICIANS will make a ****ing profit. The working "Joe Blows" of
> > this country won't see one ****ing penny.
>
> OK. this story is apparently mutating quite rapidly. It went from a $52
> billion dollar loss to now tons of profits that the politicians are stuffing
> in their pockets. Can't wait to get the next installment.
>
> -jim

It's not mutating, it's just the same old story: The politicians steal
from the taxpayers to line their own pockets. In this case they use the
auto bailout as the excuse to steal from the taxpayers, and the eventual
return of some of that money to line their pockets.

On Apr 27, 3:19*pm, "Pete C." > wrote:
> jim wrote:
>
> > Hal wrote:
>
> > > > that at some future date the governments shares will be worth what they
> > > > taxpayers paid for them. If the value of GM continues to rise the
> > > > taxpayers may even make a profit.
>
> > > (chuckles). Sure we will.
>
> > > The POLITICIANS will make a ****ing profit. The working "Joe Blows" of
> > > this country won't see one ****ing penny.
>
> > * *OK. this story is apparently mutating quite rapidly. It went from a $52
> > billion dollar loss to now tons of profits that the politicians are stuffing
> > in their pockets. Can't wait to get the next installment.
>
> > -jim
>
> It's not mutating, it's just the same old story: The politicians steal
> from the taxpayers to line their own pockets. In this case they use the
> auto bailout as the excuse to steal from the taxpayers, and the eventual
> return of some of that money to line their pockets.

Oughta use any profits to pay down the nat'l debt so my tax dollars
can actually go towards keeping the government running and providing
services rather than simply paying the interest on our national credit
card.

nate

"Pete C." > wrote in
ster.com:

>
> jim wrote:
>>
>> Hal wrote:
>>
>> > > that at some future date the governments shares will be worth
>> > > what they taxpayers paid for them. If the value of GM continues
>> > > to rise the taxpayers may even make a profit.
>> > >
>> >
>> > (chuckles). Sure we will.
>> >
>> > The POLITICIANS will make a ****ing profit. The working "Joe Blows"
>> > of this country won't see one ****ing penny.
>>
>> OK. this story is apparently mutating quite rapidly. It went from
>> a $52
>> billion dollar loss to now tons of profits that the politicians are
>> stuffing in their pockets. Can't wait to get the next installment.
>>
>> -jim
>
> It's not mutating, it's just the same old story: The politicians steal
> from the taxpayers to line their own pockets. In this case they use
> the auto bailout as the excuse to steal from the taxpayers, and the
> eventual return of some of that money to line their pockets.

ROFL. Yes and the idiots that try to do that go to jail for embezelment
if they ever try it. Not that politicians ever have access to government
bank accounts or even carry wallets on them - that's what the SS is for.

--
(setq (chuck nil) car(chuck) )

Tegger > wrote in
:

> wrote in news:18364-4BD6543F-4023@storefull-
> 3172.bay.webtv.net:
>
>> On the web,
>> Crazy On Tap - GM Lies About Paying Back ''Loan''!
>>
>> I didn't type the URL because of so many people in there using so
>> many cuss words.
>> cuhulin
>>
>>
>
>
> The Wall Street Journal had an editorial on this same thing, but with
> no cuss words.
>
> Apparently GM still owes the government $52 billion. GM was able to
> claim that they'd "paid the government back" because the feds had
> reclassified the $6-billion paid and the $52-billion unpaid in such a
> way that GM could claim the $52-billion was not "owed" and thus did
> not count.
>
> The upshot is that GM and the feds are being mendacious. Did you
> expect more?
>
They haven't got their ownership back...


--
(setq (chuck nil) car(chuck) )