GM Stocks Tumble: Taxpayers in the Hold by $42 Billion

---------- Forwarded message ----------
From: Goose Pickles <goosepickles@gmail.com>
Date: Fri, Jul 27, 2012 at 8:59 AM
Subject: GM Stocks Tumble: Taxpayers in the Hold by $42 Billion
To: beowulf <beowulf@westerndefense.net>

---------- Forwarded message ----------
From: Scotty Starnes's Blog <donotreply@wordpress.com>
Date: Fri, Jul 27, 2012 at 5:30 AM
Subject: [New post] GM Stocks Tumble: Taxpayers in the Hold by $42 Billion
To: goosepickles@gmail.com

New post on Scotty Starnes's Blog GM Stocks Tumble: Taxpayers in the Hold by $42 Billion by Scotty Starnes The bullshit continues to cost taxpayers billions as Obama claims the auto bailouts as a success. From WFB: Despite President Barack Obama's stories about a resurgent GM ready to repay its bailout tab, the automaker and its former bank still owe taxpayers nearly $42 billion, according to an inspector general's report. Obama has lied about the GM bailout since day one. The Inspector General pointed out the taxpayers will lose billions and so did Obama's Treasury Department, yet Obama continues to lie on the campaign trail. GM owes $27 billion on the nearly $50 billion it received from the auto bailout and Ally Bank, the company's lending arm, owes $14.7 billion of the $17.2 billion taxpayer-funded bailout it received. Obama has promoted the auto bailout as a success story, highlighting the manufacturing jobs it may have saved in swing states such as Ohio and Michigan. "I refused to turn my back on a great industry and American workers. I bet on American workers. I bet on American manufacturing," he said at a campaign rally in Oakland. "Three years later, the American auto industry has come roaring back." GM's stock has plummeted in recent months after stagnant development in overseas markets. It hit a new low on Wednesday, falling to $18.80, a 52 percent drop from its January 2011 high of $38.90. Continue reading>>> Scotty Starnes | July 27, 2012 at 6:30 AM | Tags: auto bailout, General Motors, GM, Inspector General, President Obama | Categories: Political Issues | URL: http://wp.me/pvnFC-7C5 Comment    See all comments Unsubscribe or change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: http://scottystarnes.wordpress.com/2012/07/27/gm-stocks-tumble-taxpayers-in-the-hold-by-42-billion/ Thanks for flying with WordPress.com

--
Thanks for being part of "PoliticalForum" at Google Groups.
For options & help see http://groups.google.com/group/PoliticalForum
 
* Visit our other community at http://www.PoliticalForum.com/
* It's active and moderated. Register and vote in our polls.
* Read the latest breaking news, and more.