Agent009 submitted on 4/30/2010 Auto Spies Photos Timestamp: 12:59:54 PM
Views : 8,068 | Category: Misc News | Source: | SOURCE: www.cnbc.com
GM is running TV ads claiming that they have repaid their government TARP loan of $8 billion and change early. Eight billion?The taxpayer invested 80 billion of TARP money into GM and Chrysler, most of that to GM. How does $8 billion pay that off? It doesn’t. What it bought us is 61% ownership in the new GM and a block of stock for the UAW. Previous shareholders and bondholders got virtually nothing. 2010 Beijing Motor Show Photo Gallery2011 Ford Fiesta Photo Gallery2011 MB E-Class Conv. Photo Gallery2011 BMW X5 Photo GalleryAutoSpies.com Photo GalleriesIf you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com Share on FacebookRead Article
Eight billion?
The taxpayer invested 80 billion of TARP money into GM and Chrysler, most of that to GM. How does $8 billion pay that off? It doesn’t. What it bought us is 61% ownership in the new GM and a block of stock for the UAW. Previous shareholders and bondholders got virtually nothing. 2010 Beijing Motor Show Photo Gallery2011 Ford Fiesta Photo Gallery2011 MB E-Class Conv. Photo Gallery2011 BMW X5 Photo GalleryAutoSpies.com Photo GalleriesIf you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com Share on Facebook
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"Normal is an illusion. What's normal for the spider is chaos for the fly."— Agent009 (View Profile)
"Normal is an illusion. What's normal for the spider is chaos for the fly."
— Agent009 (View Profile)
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