Alert! GM Lies in New Ad on Its Repayment of Bailout Money
The ads are running at least once per hour on all of the major network, cable, and satellite TV outlets. General Motors claims it has repaid its bailout from the taxpayers in full.
Only one big problem stands in the way of this grand announcement being taken seriously. It is simply not true.
Through a deft sleight of hand technique, the automaker used taxpayer bailout funds it had stored in a separate account to repay its loan from the taxpayers. Simply put, GM used bailout money to pay back bailout money, and then claimed it had ‘repaid its loan from the federal government.’
When the ad first began running it was obvious to those who had followed the news concerning GM that something was amiss. General Motors still has not turned a profit. Sales are still in decline compared to other automakers such as Ford, Honda, and even the beleaguered Toyota.
Thus, the ad begged the question, how on earth did GM, which is still reeling from massive losses, repay in full all of its taxpayer funded loans?
(Excerpt) Read more at examiner.com
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