President Obama and his supporters have been more than happy to tout his bailout of the auto industry, but General Motors still owes taxpayers $42 billion according to an Inspector General's report and the company's stock has hit an all time low.
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.
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.
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2 comments:
But Obama helped save 2000 jobs lol
Those jobs only cost a little over $2,000,000 each to save, what an acomplishment!
Didn't we just read about US car sales leading the world and how it was the "right thing" to do (bailing them out with TAXPAYER money")? Which is the truth? Are they sucessful (and therefore solvent enough to pay us back?) Or is it all a sham to prop up another industry full of "campaign contributors" who have wrapped their tentacles around the testicles of our slimy "yeah, we take bribes!!" politicians, who, if you haven't noticed lately, represent NO ONE but themselves and their rich cronies. The Tree of Liberty is in desperate need of nourishment (those with even a tiny knowledge of history will know the reference. Those without that knowledge are merely saying "HUH??").
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