GM Paying Back Loans With Borrowed Money

"may the best crooks win..."

none of this was secret. They never used all the money given to them by the government. They have billions in escrow. The non loan money can't be paid back until there is an IPO.

Good one roadburner! The best way for taxpayers to get money back (as if they ever gave it- the money is borrowed from Asia) is for us to root for GM to go under. Why didn't I think of that? If GM fails not only will thousands lose jobs and billions of bailout dollars be lost forever but Obama would look like a fool. It's a win-win-win situation!

roadburners claims are to be taken with a grain of salt. I scanned (couldn't get myself to read in detail) the link he provided. It says $800 per taxpaying household. It also says that some of that money goes toward supporting foreign vehicles. If somehow $10K has been picked from roadburner's pocket, his provided documentation doesn't support the claim.

"Good one roadburner! The best way for taxpayers to get money back (as if they ever gave it- the money is borrowed from Asia) is for us to root for GM to go under. Why didn't I think of that? If GM fails not only will thousands lose jobs and billions of bailout dollars be lost forever but Obama would look like a fool. It's a win-win-win situation!"

Exactly!

"If somehow $10K has been picked from roadburner's pocket, his provided documentation doesn't support the claim."

1. Note that I said "Gubmint Motors and Chrysler MAY eventually pick over $10,000 out of my pocket"(emphasis added)
2. I guess you missed this paragraph:

"In sum, every new vehicle sold by GM and Chrysler now is accompanied by a substantial taxpayer subsidy, with little credible evidence that either firm will survive for long, barring further assistance in the future. If survival is only to the end of 2010, the taxpayer bailout burden could amount to some $10,700 per 2009-10 vehicle sold. Any earlier failures would increase this burden per vehicle sold, as would another grant to GMAC. For each year of survival beyond 2010, the burden per vehicle would decline – so long as no additional government funding is provided."

roadburner, I did read that paragraph. It says "could amount to some $10,700 per 2009-10 vehicle sold". If we believe their math, that's that's PER VEHICLE SOLD (potentially). You claimed that it could potentially be $10K from YOUR POCKET. The article says potentially $800 from YOUR POCKET. You twisted the article to turn that $800 into $10,000.

Again, this assumes we believe their math.

I admit that I should have made my point in a more direct manner; I/we US taxpayers are subsidizing every vehicle in an amount that could exceed $10,000. We'll never see the money anyway, so I hope Gubmint Motors goes Tango Uniform sooner than later. Ditto for Chrysler.

Only 1487 and the geniuses from GM could spin this as a good thing. Losing money on NA operations AND losing market share (read the above article 1.8 of that share is by dis-continued brands) is really a sign that we are doing great! Notice how 1487 cant get by without implying that you are un-American if your dont by a GM product. Nice try 1487 but no cigar. Can you even consider that true Americans are sickened by the entire GM/UAW bribe-out using taxpayer dollars when we owe our soul to the Chinese????? God, you are so obtuse as to be disabled. None of this was secret, you are correct. The use of our money to put more greenbacks into the corrupt pockets of the UAW and screw the bondholders IS DISGUSTING AND IMMORAL. Roadburner is exactly correct, we are getting royally screwed out of this deal.

"The use of our money to put more greenbacks into the corrupt pockets of the UAW and screw the bondholders IS DISGUSTING AND IMMORAL."

Excellent point; the bondholders got reamed while the UAW gets propped up. I guess that's just Chicago politics played on a national scale...