It’s not usually a good thing when our government lies to us. I do understand that there are occasions when a lie is necessary. I even accept that sometimes a lie is told because it serves the interests of the politician or party, such as denying a sexual liaison or a promise to not raise our taxes.
What I don’t accept is a lie meant to deceive the public when the public has every right to know the truth.
Grassley Slams GM, Administration Over Loans Repaid With Bailout Money
[Via: FoxNews.com]
A top Senate Republican on Thursday accused the administration of misleading taxpayers about General Motors’ loan repayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money.A top Senate Republican on Thursday accused the Obama administration of misleading taxpayers about General Motors’ loan repayment, saying the struggling auto giant was only able to repay its bailout money by dipping into a separate pot of bailout money.
Sen. Chuck Grassley’s charge was backed up by the inspector general for the bailout — also known as the Trouble Asset Relief Program, or TARP. Watchdog Neil Barofsky told Fox News, as well as the Senate Finance Committee, that General Motors used bailout money to pay back the federal government.
“It appears to be nothing more than an elaborate TARP money shuffle,” Grassley, the ranking Republican on the Senate Finance Committee, said in a letter Thursday to Treasury Secretary Timothy Geithner.
But what I haven’t completely made up my mind about is whether Vice President Biden is unfortunately ignorant, or whether he thinks the American people are stupid.
[Vice] President Biden on Wednesday called the GM repayment a “huge accomplishment.”
My husband, son, and I have only ever purchased new American vehicles, and we’ve taken a certain pride in that fact. I will never buy another GM vehicle and I will go out of my way to make sure I explain why I think it’s a bad bit of business for anyone else to do so in the future. Yes, I know… the taxpayers own the majority of GM, but frankly, with this stunt they’ve demonstrated they do not deserve to remain in business. They certainly don’t deserve taxpayer money to do so.
In fact, I think the SEC should look into filing charges against GM and the administration for lying to shareholders, the American taxpayers.
Sorry, the comment form is closed at this time.