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Thread: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

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    Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    A top Republican says General Motors’ announcement this week that it will repay its federal loans early is “nothing more than an elaborate TARP money shuffle.”

    In a letter to Treasury Secretary Tim Geithner, Sen. Charles Grassley of Iowa fumes that the source of the funds for the $4.7 billion repayment is not GM earnings, but rather a Treasury escrow account. He chides the company and the administration for suggesting in recent statements that the money is coming from GM earnings.

    Grassley writes that GM’s early repayment of the federal loan is aimed at diverting attention from another uncomfortable issue – the big break the car company would get on a proposed tax to recoup TARP losses. GM is expected to generate some of the biggest losses in the TARP program, but it won’t have to pay any money under the so-called TARP tax the Obama administration wants to impose on large financial institutions.

    Treasury and GM officials don’t dispute that the money to repay the loan is coming from TARP funds. But they said that’s been clearly disclosed.


    Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans - Washington Wire - WSJ


    So not only did GM not repay the full loan (only 40 billion short) the money they did use to pay back the part that would cost them interest on they use MORE taxpayer money!!!
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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    A top Republican says General Motors’ announcement this week that it will repay its federal loans early is “nothing more than an elaborate TARP money shuffle.”


    Well if a Republican said it, it must be true. Sorry bud I've looked around a couple of sites and can't find another story like this, were it true the press would have a field day. So until it appears on a credible news site, since I don't think Wall street Journal blogs is one, than we can talk about this stuff.

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by Jetboogieman View Post

    Well if a Republican said it, it must be true. Sorry bud I've looked around a couple of sites and can't find another story like this, were it true the press would have a field day. So until it appears on a credible news site, since I don't think Wall street Journal blogs is one, than we can talk about this stuff.
    Gee, I can't imagine why the same jurassic media that totally ignored obama's lack of eligibility doesn't put more emphasis on a story that makes him look bad.
    Here's abc:
    Grassley Questions GM Repayment - The Note
    Or, if you prefer a real media out let, here's FOX:
    FOXNews.com - Grassley Slams GM, Administration Over Loans Repaid With Bailout Money
    Or, you can just google "tarp money shuffle" and you'll get 498,000 results. But, I guess doing some research on your own is harder than to just dismiss the truth all together.

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by keymanjim View Post
    Gee, I can't imagine why the same jurassic media that totally ignored obama's lack of eligibility doesn't put more emphasis on a story that makes him look bad.
    Here's abc:
    Grassley Questions GM Repayment - The Note
    Or, if you prefer a real media out let, here's FOX:
    FOXNews.com - Grassley Slams GM, Administration Over Loans Repaid With Bailout Money
    Or, you can just google "tarp money shuffle" and you'll get 498,000 results. But, I guess doing some research on your own is harder than to just dismiss the truth all together.
    Oh, yeah great. what I meant to say is, I want proof. So far the only thing you have to stand on, is a top republican says so Shocker that, shocked the Republicans would accuse the Obama administration of wrong doing when positive news comes out ain't that some ****

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by keymanjim View Post
    Or, if you prefer a real media out let, here's FOX:
    You made my sides hurt, I laughed so much at that.

    But, I guess doing some research on your own is harder than to just dismiss the truth all together.
    Hey, the right wing invented the "dismiss the source as biased" tactic.

    In any event, I don't doubt the truth of this letter, but I wonder if the whole story has been told by this blog entry.

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    What kind of "proof" do you want?
    Grassley made a statement. What did he say that was wrong?

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by keymanjim View Post
    What kind of "proof" do you want?
    Grassley made a statement. What did he say that was wrong?


    Whether the statement is true...

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by Jetboogieman View Post


    Whether the statement is true...
    Time to adjust your tin foil hat. Dont want that vast right winged conspiracy to get you!
    Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.

    John Adams

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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by Jetboogieman View Post


    Whether the statement is true...
    The way this works you see is, if you don't agree with something that's out in the media or public stating "X", then it's incumbent upon you to show that it's incorrect by providing proof, not the other way around. There's no less than 3 sources provided that support the OP statement. Simple dismissal based on what you deem as acceptable "proof" or "evidence" is irrelevant. No one can stop you from plugging your ears and yelling "LALALALA!!!" at the top of your lungs if you want to.

    Either debunk it or become irrelevant in this thread.
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Grassley: GM Uses ‘TARP Money Shuffle’ to Pay Loans

    Quote Originally Posted by texmaster View Post
    Time to adjust your tin foil hat. Dont want that vast right winged conspiracy to get you!
    Now it's a conspiracy to ask whether something a POLITICIAN said is true?

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