U.S. Takes $9.7 Bil Hit in GM Bailout

Judicial Watch ^ | October 29, 2013

[WayneS]

Whoa, whoa whoa, whoa!

Obama said we’d get ALL of our money back!

[jazusamo]

I believe 0bama thinks $9.7 billion is just petty cash when it’s not his money.

Just one more lie from the “Won.”

[Repeal The 17th]

“...The United States Treasury has recorded a $9.7 billion loss on its $49.5 billion bailout of General Motors...”
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OK, so we spent $49 billion (taxpayer’s money) and we lost $9 billion.

Do I add the 9 to the 49 or subtract it?

I find this all so confusing...

[George from New England]

The winners are the unions and the unionized workers and retires. No mention in the post is there ?

[realcleanguy]

It costs money to get extra votes

[newfreep]

The new report also documents billions of dollars in fraud and corruption associated with TARP throughout the nation. They include multi-million-dollar bank fraud and Ponzi schemes, foreclosure rescue scams and a number of other illicit operations using TARP funds.

That's gotta be a typo - obamatollah would not allow that corruption. Unless he did...

[jazusamo]

I could well be wrong but I understand it to be that GM paid back some loans and Treasury just sold the last of the GM stock it was issued so the loss to taxpayers is $9.7 billion.

[reed13k]

Please - I don’t need 2 trillion or even 2 Billion or 200 Million or even 20 million. I would be very happy with just 2 million. 1 million to live off the interest and 1 million to buy my house, property, and toys. I don’t understand why folks are so greedy...

[Repeal The 17th]

$9.7 billion = 400,000 brand new chevy silverados

[Da Coyote]

What I find amazing is there there were suckers willing to purchase “new” Gm stock. Guess they think that they’ll not loose their money - as did the first group O’suckers.

Oh, forgot, they’re probably Obamadork contributers (e.g. croooks) and will get their monies back when GM goes t*ts up the second time. (And it will.)

[jazusamo]

Yep, the winners were the UAW and the union members pension fund, a real rip off of taxpayers.

[jazusamo]

That’s a lot of silverados and they’re not selling worth a darn now.

[Iron Munro]

The Food Stamp President

The Free Money President

[LibLieSlayer]

One reason why after a lifetime of NEW GM autos and trucks... I am driving a beater.

[PhiloBedo]

THE reason after a lifetime of buying American cars I’m driving a Toyota, and buying my daughter a BMW.

[wally_bert]

We are a Toyota household nowadays.

[blueunicorn6]

So, basically, from May 6 until the end of June, the US Taxpayers had $9,000,000 A DAY thrown down the crapper by the Democrats to buy votes from the UAW. Higher than that if you figure in that they don’t work on weekends.

[jazusamo]

That’s a good way of putting it and it sounds accurate to me.

[informavoracious]

Interest? Interest? What interest?