Edited GM commercial claiming payback of government loan

GM released a commercial that touted its paying back the taxpayers in full, with interest, 5 years ahead of schedule, except:

1) GM was loaned an other $49.5 billion in a TARP escrow account
2) GM used money from the TARP escrow account to pay back the TARP loan (aka - pay off one credit card with another)
3) They did it to get a $10 billion loan from DOE and not make it look bad

It is an utter fraud and lie. GM can't even cover its own expenses yet!

Category:

News & Politics

Tags:

• GM
• fraud
• bailout

[Janusha]

Repaid in full.... Gawd. Lying live on national TV.

I looked up every single car GM offers for Europe and they are ALL rebadged Korean cars. Not american cars built in Korea, Korean built cars. The only thing american on them is the GM badge which is probably made in China. GM took their half of the 100 billion bailout money and effectivelly fled the country. Abandoning 90 enormous factories in Michigan, effectively bankrupting the state and shutting down half of USAs manufacturing.

[IEATZR1]

government motors is still trying to get people to believe they're number one to get people to buy their vehicles. I see a few of those bailout autos on the road and they don't even know they're paying for their bailout vehicle and their taxes as well as all of our taxes are paying for government motors loan they haven't payed back.

[getitson123]

fuck gm buy ford

[SecondtothePope]

Karl Marx predicted this nonsense whereby government becomes the corporation and the corporation becomes the government - a dangerous pair of bedfellows indeed. This was predicted eons ago and yet the trap so conveniently set has now become the one that ensnares us all.

Also, forty years ago the fall of America was predicted in Toronto Life magazine, the west becomes the prey of the Tiger and Dragon. The vultures are circling overhead, waiting to pick the bones clean.

And Nostradamus ...

[nobodady1]

@Whipple236 It is better to be unemployed and to rebuild with a sound foundation than to bend over and work gratefully for a crime syndicate, or to be force fed shit. Do we even deserve freedom?

[nobodady1]

@fischsnopro You are treating GM as if it were a person, some American neighbor with a minor character flaw, like anyone you'd meet in the workplace or at church, etc.. And Whittiker WANT's us to identify GM with America, as if those 50 Stars on the flag were the 50 billion we shelled out for their shit. I could forgive a murdered more easily then I could GM. At least a murderer is a person, and we can lock his ass in jail for what he does.

[fischsnopro]

its funny to see people have such a problem with gm admitting their faults and trying to fix things, its obvious they were not going to be able to pay 50billion off so quickly but they are trying, GM is not perfect i know that but look around you there aint much that is anymore

[1greenMitsi]

shouldve taken that 1.9 million dollar cheques for the remaining EV-1's they trashed. GM is for retards

[riverstrat]

Post you source material so others can spread the word, they can't say , "he said so" .

[ClevelandOrangeDawgs]

LONG LIVE GM!!!!