General Motors set to pay off federal loans this week

[Hot Mega]

More owwies for the whine just to keep from being quiet tea baggers....:o I suppose at some point these clowns will get it, sit down and let the grown ups dig us out of the shit many of the people they likely supported got us into.

General Motors Co. will fully repay the $6.7 billion loan portion of its U.S. government aid earlier than its previously promised payback date of June, a person briefed on the plans said Monday.

GM CEO Ed Whitacre will announce details of the repayment during a visit Wednesday to the company's Fairfax Assembly Plant in Kansas City, Kan., said the person, who did not want to be identified because the announcement has not been made.

Whitacre will travel to Washington, D.C., after the announcement to meet with House Speaker Nancy Pelosi and the Michigan congressional delegation.

The company has received a total of $52 billion in U.S. government aid, with the $6.7 billion considered a loan. The rest would be repaid when the company sells stock to the public, perhaps later this year.

GM already has made two $1 billion payments, leaving a $4.7 billion balance on the U.S. loans.

Continued at link.....

http://www.mlive.com/auto/index.ssf/2010/04/general_motors_set_to_pay_off.html

 

[lurkingdirk]

So, that's good, right?

 

[CunningStunts]

Good for them, but why did my tax money ever go to them in the first place?

 

[Hot Mega]

Good for them, but why did my tax money ever go to them in the first place?

Why do your tax dollars go to anyone, ever in the form of loans????

You didn't know the g'ment loans your tax dollars out all the time?? Don't tell my you're angry that in this particular case it was loaned out to help the US economy..

 

[Jagger69]

Good for them, but why did my tax money ever go to them in the first place?

The same reason it went to the Wall Street bankers....to keep the fucking economy from collapsing.

Good for GM! Still waiting for that Wall Street money though.....pricks. Those guys are the real culprits for this fucking mess.

 

[lurkingdirk]

The same reason it went to the Wall Street bankers....to keep the fucking economy from collapsing.

Good for GM! Still waiting for that Wall Street money though.....pricks. Those guys are the real culprits for this fucking mess.

Jagger, I either have to date you, or you need to stop making so much sense.

Either way, you're looking mighty good. Have you been working out?

 

[CunningStunts]

Well, if a company is so poorly run that it fails, I say let it... someone else will buy the pieces and be able to turn a profit. Why use public money to prop up crooked wall street firms and shitty businesses?

 

[Jagger69]

Why use public money to prop up crooked wall street firms and shitty businesses?

Once again, to keep the economy from collapsing. Not saying I like it or necessarily agree with it (in fact, the anarchist in me wants this whole rotten-ass system of ours to fucking collapse in flaming rubble) but that was the original justification for the bailouts (they started with the Bush administration in case you don't remember).

Where have you been the past 2 years, CS???

Jagger, I either have to date you, or you need to stop making so much sense.

Either way, you're looking mighty good. Have you been working out?

Why thank you, LD!!! As a matter of fact (MP will be interested to hear this), I have been intensifying my workouts. Son and I are climbing Humphreys Peak this summer:

http://www.peakware.com/peaks.html?pk=115

 

[lurkingdirk]

Once again, to keep the economy from collapsing. Not saying I like it or necessarily agree with it (in fact, the anarchist in me wants this whole rotten-ass system of ours to fucking collapse in flaming rubble) but that was the original justification for the bailouts (they started with the Bush administration in case you don't remember).

Where have you been the past 2 years, CS???

Actually, Jagger, I believe it is to keep the fucking economy from collapsing. Please be accurate in your recapitulations.

thankyouandhaveaniceday. :hatsoff:

 

[Hot Mega]

Well, if a company is so poorly run that it fails, I say let it... someone else will buy the pieces and be able to turn a profit. Why use public money to prop up crooked wall street firms and shitty businesses?

Uh...where have you been?? You think GMs woes were simply isolated to their business practices when damn near EVERY business sector and industry collapsed worldwide except for all the ones with business in Iraq and mining oil???

 

[Jagger69]

Actually, Jagger, I believe it is to keep the fucking economy from collapsing. Please be accurate in your recapitulations.

thankyouandhaveaniceday. :hatsoff:

Well, technically, I suppose you are correct. It's just that I don't ordinarily feel very comfortable using such blatant coarse language....especially in such a prim and proper forum like Freeones.

 

[lurkingdirk]

Well, technically, I suppose you are correct. It's just that I don't ordinarily feel very comfortable using such blatant coarse language....especially in such a prim and proper forum like Freeones.

Thank you for your decorum. Pussy.