EDITOR OF REDSTATE
GM Did Not Really Pay Back Its Loan
If you own a GM vehicle and they have your email address, you’ve gotten a nice email in the past few days that they paid back their bailout loan from the federal government.
A lie. Well, technically true, but a lie.
Turns out they took money out of one pocket and put it into the other. More precisely, GM took TARP money to pay off the auto bailout money and now must pay off the TARP money.
GM, since being taken over by Obama, is now acting like the Obama administration.