Shady Posted May 2, 2010 Report Posted May 2, 2010 Looks like this fraud was perpetuated with the help of the Obama administration too. “We are encouraged that G.M. has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability,” said Timothy F. Geithner, the Treasury secretary. Taxpayers are naturally eager for news about bailout repayments. But what neither G.M. nor the Treasury disclosed was that the company simply used other funds held by the Treasury to pay off its original loan. Neil M. Barofsky, the inspector general overseeing the troubled asset program, revealed this detail when he spoke before the Senate Finance Committee on April 20. “So it’s good news in that they’re reducing their debt,” Mr. Barofsky said of G.M. But he went on to note that G.M. was using other taxpayer money to make the loan repayment, according to the transcript of his testimony. The New York Times So not only did GM lie about its loan repayment, but so did Obama's Treasury Secretary, Tim Geithner. It's just another reminder, that anything you hear from this administration has to be taken with a grain of salt. They're always in constant campaign mode. Quote
Pliny Posted May 4, 2010 Report Posted May 4, 2010 “We are encouraged that G.M. has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability,” said Timothy F. Geithner, the Treasury secretary. ......along with Fannie Mae and Freddie Mac. Quote I want to be in the class that ensures the classless society remains classless.
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