GM Lies About Bailout Repayment

[Bluebear]

Have you seen the...ad from General Motors claiming that they've repaid their loan from the federal government "five years early and with interest"? Yeah, not so much:

Lawmakers, and even the inspector general for the bailout fund GM borrowed from, point out that General Motors only repaid the bailout money by dipping into a separate pot of bailout money. They say the company did not actually use its own earnings to make the early payment and are questioning why executives are making such a big deal out of it.

They borrowed more to payback the first loan and have the nerve to crow about it. And their second lie: "The $6.7 billion is also just a fraction of the $52 billion General Motors received in government aid. Grassley said lawmakers are being told government losses on GM are expected to exceed $30 billion." Unreal.

http://www.joemygod.blogspot.com/

[randr]

1. The ad also sympathizes with people protesting the bailout

without a thank you to tax payers who put up the money.

[Bluebear]

7. yes

[JBoy]

2. It's all PR

Two messages I get from the commercial:

We repaid our loan, therefore we're good guys, so buy our cars.
We repaid our loan, therefore we must be financially sound, so buy our cars.

Marketing wanted to "turn over a new leaf", so they created a leaf they could turn over.

[bluestateguy]

3. That depends on what the definition of a lie is

nt

[xchrom]

4. Gasp! A large corporation with

Deep DC ties lie?

Shocking.

[The Northerner]

5. How despicable. K+R

[girl gone mad]

6. This is the same game the banks have been playing.

Repaying TARP money with backdoor bailouts and tax forgiveness schemes and then expecting Americans to celebrate the sham.