Quote:
Originally Posted by Cmicasa the Great XvX
I don't think anyone is Demonizing UIn my book.. the money is paid back. They took it from the Tarp funds they owed and gave it back. Perhaps they should have worded it like that.
" WE GAVE the MONEY BACK (instead of PAID)... with $800 Million in INTEREST, a 10% yield in LESS than a year."
Unfortunatly we are in the midst of one of the biggest Partisan plights that I can remember in my life time. The country is still reeling over the election of a Non-White as President. Many can deny it all they want, but the truth of the matter is that it has a lot to do with the scutininzing of the Administration that we have seen.
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This is completely missing where GM, and since it's been brought up, the President failed. They attempted to spin GM paying the loans off as if it was the end of the bailout, they were all careful not to really say that but that was clearly the intended message as can be seen from the first post in this thread. If this was payed off with profits from GM doing so great it would have seen some criticism due to the remaing unpaid for government equity. That the money paid back was simply part of the money left over from the extremely overpriced purchase of GM shares by the government simply stinks of attempting to create a political and PR victory out of something everyone involved should be ashamed of (primarily members of Congress involved in it's writing and passage but also the current and last Presidential administrations responsible for the approval and implementation), as much as anything the repayment clearly highlights just how much the government overpaid for it's GM equity. To clarify I'm not completely opposed to such bailouts, but the amounts and methods involved are another story entirely along with how it's pretended that all of these equity purchases are somehow guaranteed to pay for themselves.