Liberal Bookkeeping

[MonsterMark]

GM to pay off $5.8B bailout loans early
snip

General Motors Co. is repaying its remaining $5.8 billion in bailout loans to U.S. and Canadian taxpayers two months ahead of schedule.

It's another promising milestone for post-bankruptcy GM, which last month reported better-than-expected earnings for the last quarter of 2009.

snip

The final loan repayment will total $4.7 billion to U.S. taxpayers and about $1.1 billion to the governments of Canada and Ontario.

The U.S. treasury will still own about 61 percent of the automaker, however, because about $43 billion of the $50 billion in aid that the government gave GM during its bankruptcy last year was converted to equity.

snip

The automaker lost $3.4 billion in the fourth quarter of 2009 on revenues of $32.3 billion.

The White House plans to embrace the news of GM's full repayment as a sign of its post-bankruptcy progress. President Barack Obama has praised GM's payments to date as a sign of progress.
Bailout was 'right thing'

snip


From The Detroit News: http://www.detroitnews.com/article/20100420/AUTO01/4200366/1148/auto01/GM-to-pay-off-$5.8B-bailout-loans-early#ixzz0ldeD0xQa

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Only a liberal can see a $3.4 billion dollar loss as "better-than-expected earnings".

GM pays off $5.8 billion out of $58 billion borrowed and the liberals called that 'paid off'.

Obama stole from millions of Americans and gave the money to the unions.
How's that for hope and change in America.

 

[fossten]

But Obama told us he would pay us serfs - errrrrrrrr - taxpayers back with that money!

 

[Calabrio]

I just mentioned this in the other thread but we have $52,000,000,000.00 borrowed tax dollars tied up in GM right now. They are only responsible for paying $6.7B back.

And they are paying it back with more money that was borrowed and and placed in an escrow account for them by the federal government (US).

It's all a shell game.
You can not trust this regime. EVERYTHING is a lie or a political maneuver designed to isolated, mislead, distract, or overwhelm the public.

Look at the Goldman Sach's story, it's obviously a political ploy.
From the Wall Street Journal:

'After 18 months of investigation, the best the government can come up with is an allegation that Goldman misled some of the world's most sophisticated investors about a single 2007 'synthetic' collateralized debt obligation (CDO) ?

Far from being the smoking gun of the financial crisis, this case looks more like a water pistol'.

I'd be willing to be that not only is Goldman Sachs not concerned about this, noting their close association with the Democrat party, I wouldn't doubt they were involved in the decision to pursue the legal distraction.

Goldman Sachs made a fortune off of the TARP bill and the financial bailout outs in 08-09. There weak investments were secured, some of their competition was forced out of existence.

 

[fossten]

Goldman Sachs made a fortune off of the TARP bill and the financial bailout outs in 08-09. There weak investments were secured, some of their competition was forced out of existence.

And Soros made a fortune off it too. Follow the money, people...

 

[foxpaws]

Goldman Sachs made a fortune off of the TARP bill and the financial bailout outs in 08-09. There weak investments were secured, some of their competition was forced out of existence.

Who asked for the TARP fund to be set up - and who gave Goldman Sachs all that money?

 

[fossten]

Who asked for the TARP fund to be set up - and who gave Goldman Sachs all that money?

Goldman Sachs has been in bed with Obama from the beginning.

 

[cammerfe]

Although two wrongs are unlikely to make a 'right', are you suggesting an equivalency between offering a loan, and saying, in effect, "Nah, jus' keepit"?
KS

 

[1bad4.6l]

How's about just letting the useless automaker fail.

 

[Joeys Lincoln]

The only way the GM bailout could ever be profitable is if GM's new stock somehow trades way above its real value.

 

[Calabrio]

The only way the GM bailout could ever be profitable is if GM's new stock somehow trades way above its real value.

It was profitable for the Democrat party because it helped secure the UAW support and contributions through the next election cycle.

From the Washington Examiner:
According to the Center for Responsive Politics' website OpenSecrets.org, here's some data on the UAW's PAC activity in 2008:

* The PAC spent $ 13.1 million, making it the #14 PAC in the country, and placing it ahead of all business PACs except for the National Association of Realtors

* $4.9 million in reported independent expenditures, all of it dedicated to helping elect Barack Obama

* More than $2 million in direct contributions to candidates, with 99% of it going to Democrats


And that 1% that didn't go to Democrats went to Arlen Specter...a Republican who switched parties and became a Democrat.