Posted on 04/28/2010 9:17:26 PM PDT by SmithL
A U.S. Treasury Department official acknowledged that General Motors repaid loans from the U.S. and Canadian governments with funds from those same governments, but said that was always the plan.
Last week, Sen. Charles Grassley, R-Iowa, said in a letter to Treasury Secretary Timothy Geithner that the loan repayment GM is touting in ads "appears to be nothing more than an elaborate TARP money shuffle."
Herbert Allison, assistant treasury secretary for financial stability, responded to Grassley on Geithner's behalf. In a letter, he said the loan was repaid from an escrow account at GM, not at the Treasury as Grassley had stated.
However, "The money used to fund the escrow account came from a portion of the proceeds of a loan made by both the Treasury and the Canadian goverment.
(Excerpt) Read more at sfgate.com ...
Treasury says GM loan repayment was proper
Of course they did...they own it!
In other news, Carlo Gambino assures the public that he is a legitimate businessman.
That's "proper?" Then why the hell didn't the government pick up my tab for "taxes owed" this year? That had to come out of MY money!
The list, ping
BTTT
Fox says hen house safe.
No it wasn’t.
GM needs to check out one of those commercials that advertises relief from too much credit card debt.
“Are you using one credit card to pay off another?”
Reason mag has a good article on this
GM’s Phony Bailout Payback
http://reason.com/archives/2010/04/27/gms-phony-bailout-payback/
GM needs to check out one of those commercials that advertises relief from too much credit card debt.
Are you using one credit card to pay off another?
#####
And to complete the analogy.
Are you stealing money at the point of a gun from honest taxpayers, and THEN using one credit card to pay off another?
John Gotti, too. Oh, wait, isn’t he dead?
They went after Cheerios
Cheerios’ Health Claims Break Rules, FDA Says
http://online.wsj.com/article/SB124216077825612187.html
As a FORD stockholder, I LOVE your new slogan.
Could you give me $100 so I could pay back that $100 that I borrowed from you last week?
Thanks. Now we’re even.
I have two Fords sitting in my driveway. Toyota is being fried because Uncle Dam doesn’t like competition. Chevy and Chrysler are toast. It may take them awhile but they will both fail. Fords for this household forever.
Of course they do.....who runs the Treasury again? Nuff said when moving money from one debt bucket to another debt bucket and then calling something paid off.
Be assured, I nor anyone in my family will never buy a GM or Chrysler product ever.
For turbo tax cheat Timmy, not paying his taxes was proper.
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