GM's Phony Bailout Payback

[RangerX]

The company is setting the stage for another taxpayer shakedown

GM CEO Ed Whitacre announced in a Wall Street Journal column last Wednesday that his company has paid back its government bailout loan "in full, with interest, years ahead of schedule." He is even running TV ads on all major networks to that effect—a needless expense given that a credulous media is only too happy to parrot his claims for free. Detroit Free Press' Mike Thompson, for example, advises bailout proponents to start "warming up their vocal chords" to jeer their opponents with chants of "I told you so."

But before belting out their victory aria, GM-boosters ought to hear the whole story—not just the fairytale version about Government Motors' grand comeback that Whitacre is feeding them.

Full Story

[RangerX]

#^%& those @$%^ing !&#$ers.

[hobbit]

Whitacre deserves an Oscar for special effects in accounting.

[al_2ndWolfhounds]

And the real shame is that with our current press corps most of America will never know.