Well, kind of. It appears GM is paying back with a Government Ponzi Scheme
“ During an April 20 hearing on Capital Hill, Sen. Tom Carper, (D-Del.) asked some pointed questions of Neil Barofsky, the “special watch dog” on the Wall Street Bailout, aka, TARP.
“It’s good news in that they’re reducing their debt,” Barofsky said of the accelerated GM payments, “but they’re doing it by taking other available TARP money.”…
“It sounds like it’s kind of like taking money out of one pocket and putting in the other,” said Carper, who got a nod of agreement from Barofsky.
“The way that payment is going to be made is by drawing down on an equity facility of other TARP money.”
This prompted a stern letter from Senator Charles Grassley (R-IA), who backed the bailouts, to Treasury Secretary Tim Geithner about the shell game being played by the Obama administration and GM (via Yid with Lid, emphases mine):
General Motors (GM) yesterday announced that it repaid its TARP loans. I am concerned, however, that this announcement is not what it seems. In fact, it appears to be nothing more than an elaborate TARP money shuffle.”
http://www.google.com/search?sourceid=navclient&aq=0h&oq=G&ie=UTF-8&rlz=1T4ADRA_enUS375US375&q=gmc+paying+back+bail+out
Have we been paid back all the bail-out money that we so generously gave to the Banks etc.? If not, now's the time to collect all that debt. Or why can't the Big Banks return the favor and bail-out the Unemployed Americans?? Yeah, right.
Who said anything about putting them on the welfare rolls? And why not TARP or Stimulus funds? And Scott who?? Senator? Republican? Democrat? Representative? What state? And what's his full name? Do you have any references you could post? That would be very helpful.
More cooperation from the party of no...... What have they done besides say no.... Anyone no?
It makes sense to me to throw them on the welfare rolls. You betcha, Last I heard they want to use tarp to bail out wall-street in case they need it. Is it Scott that refuses to support the Financial reform because he thinks it unfair that the big big corporations should put their own money aside to create a fund in case they get into trouble. Scott thinks that unfair, so in order to get it passed they changed the fund back to the taxpayer instead, and the bum still wants to think on it until after recess. Check out how much money this dude gets from Wall Street in the short time he has been in office. More than anyone I bet.
I agree with you. I still do not understand the rationale of bailing out Wall Street fat cats so they can get bonuses and taxpayer funded vacations. The jobs created under the stimulus are laughable. There is money or programs from those two that would finance this. I don't want these people in a desperate position.
As for the Republicans wanting to finance the war, would someone please tell me how you run a war without funds? Not pay the troops? Come on Reid, get real.
I don't know enough about all the different US programs and expenditures to make any kind of real suggestion, but how devasting for these families. In my opinion, people first (especially those unemployed through no fault of their own) and everything else second. I feel sick just reading about these poor people..what are they going to do now?
Cut the money from TARP
“According to the report, $489.88 billion has been committed to specific institutions, and $383.52 billion of that has been paid out by Treasury. The department said it does not expect to use more than $550 billion of the $700 billion program.”
http://online.wsj.com/article/SB10001424052748703509404575300502253092016.html