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Why wouldn't GM be able to pay it back..most of their debt got wiped with their bankruptcy.
Bondholders and shareholders got wiped. Retirees are now on tax payer dime.
But we still have about 60% ownership via stock..June is but 6 weeks away so we'll see.
Anything that shows Obama in a positive light bothers you.
How is this Obama in a positive light? The company burned through $25B in cash this year and took on $40B in NEW debt. What part of all of this is positive, and what the heck does it have to do with Obama? BUSH bailed them out.. NOT Obama..
I don't want to see those who have stolen from the original investors/creditors through strong-arm, chicago-style politics and tactics succeed.
They way obama basically voided contract law to GIVE the union a piece of the pie is disgusting and should not be rewarded.
Quote:
Originally Posted by pghquest
How is this Obama in a positive light? The company burned through $25B in cash this year and took on $40B in NEW debt. What part of all of this is positive, and what the heck does it have to do with Obama? BUSH bailed them out.. NOT Obama..
It's really hard to keep up with you GM/UAW bashers. One of you says it's Obama's ballgame and one of you says it's Bush's gem. Either way, GM paying back its loans helps reduce the national debt and that does put Obama in a positive light.
It's really hard to keep up with you GM/UAW bashers. One of you says it's Obama's ballgame and one of you says it's Bush's gem. Either way, GM paying back its loans helps reduce the national debt and that does put Obama in a positive light.
1) Conservatives are entitled to have differences of opinions from one another
2) Sanrene is still correct, and I have said nothing to dispute her comments.
3) BUSH bailed out GM.. An undeniably fact!!
4) Obama converted this loan into equity.. AN INDENIABLY FACT
5) GM is paying back its loans by taking out new loans from the government, which does NOT reduce the national debt..
6) I didnt like it when Bush bailed them out, I didnt like it when Obama bought equity
7) This reflects neither negatively, nor positively on Obama.. But you are in such a hurry to try to bash anyone for simply posting FACTS, that you ignore reality..
It's really hard to keep up with you GM/UAW bashers. One of you says it's Obama's ballgame and one of you says it's Bush's gem. Either way, GM paying back its loans helps reduce the national debt and that does put Obama in a positive light.
Go read the new updated thread on this...GM borrowed bailout money from the government to pay back the government loan.
So is that really paying it back ??? Not in my book.
Yeah, I was going to post that... people are idiots to think that GM actually paid back the bailout.. I figure its just propaganda to get people "optimistic" about the future.. using government money to pay government debt is retarded.. GM is retarded... but without GM, Detroit will be a stinking hole in the ground as well as the rest of Michigan... I think that was the true reason for the bailout.. protecting the state, the company was just gravy on top... Its amazing that most news organization are ignoring that they are using borrowed government money to pay money owed to the government... perhaps it is a way to increase the CEO's bonuses at GM?? Don't know but wouldn't be surprised...
The 16 billion escrow account set up by the Obama Admin during Bankruptcy, required that by June 30, any remaining loan will be paid from this account. There is still a significant amount in that account, it's just that GM felt it would not need the amount of the loans, so why would they not pay them off early? Particularly, since what remains in that account, over 5 bil, is no longer restricted and can go into GM reserves.
It's really hard to keep up with you GM/UAW bashers. One of you says it's Obama's ballgame and one of you says it's Bush's gem. Either way, GM paying back its loans helps reduce the national debt and that does put Obama in a positive light.
Quote:
Originally Posted by florida.bob
The 16 billion escrow account set up by the Obama Admin during Bankruptcy, required that by June 30, any remaining loan will be paid from this account. There is still a significant amount in that account, it's just that GM felt it would not need the amount of the loans, so why would they not pay them off early? Particularly, since what remains in that account, over 5 bil, is no longer restricted and can go into GM reserves.
So......they are claiming to be repaying money they never used?
The shell game being played by obama is transparent and dirty. Once again, his hardened, deadend supporters have been duped. You would think that after a while, they would realize they're being lied to.
"The bottom line seems to be that the TARP loans were 'repaid' with other TARP funds in a Treasury escrow account. The TARP loans were not repaid from money GM is earning selling cars, as GM and the administration have claimed in their speeches, press releases and television commercials," he wrote.
"I think the one thing that a lot of people overlook with this is where they got the money to pay back the loan. And it isn't from earnings. ... It's actually from another pool of TARP money that they've already received," he said Wednesday.
In other words, they are lying.
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