GM's Phony Bailout Payback

Subject: txt auto gdd mny trade -
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."

[40 BILLION in shares still held by the US government - that would be us. What taxpayer subsidy? "It's all paid back..."]

READ MORE