Posted by
Maudie in Mandeville on Friday, April 23, 2010 2:04:48 PM
Have you seen the well produced GM commercial with GM Chairman Ed Whitacre announcing he's "repaid the loan with interest"? Ol' Ed seems a nice kindly country gentleman, but it didn't take long to figure out he's lieing through his teeth just like everyone else in the Obama administration. Remember, the last GM chairman was fired by Obama and Ed was hand picked by Obama and the union thugs, evidently for his lieing skill.
'The automaker – which is 61 percent owned by the U.S. and 12 percent owned by
Canada -- announced on Wednesday that it has fully repaid the $6.7-billion in loans it received from the U.S. and Canadian governments. But as the
Associated Press reported, GM received a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as part of its bankruptcy reorganization.
The U.S. (Obama) only considered $6.7 billion of the $52 billion as a loan. In fact, GM still owes $45.3 billion to the U.S. and $8.1 billion to Canada.'
http://cnsnews.com/news/article/64629