Poison Pero is RIGHT!

Thursday, May 06, 2010

Edward E. Whitacre Jr. (Government Motors CEO)

"G.M. is able to repay the taxpayers in full, with interest, ahead of schedule."

- Statement Whitacre makes in a G.M. commercial.

**WOW! That's great news...If it were true it would be great news, that is.

If I didn't know better I'd wonder if President Obama put Bernie Madoff in charge of G.M...How else can it be explained for Whitacre to try an fool the American people into believing a company that's done nothing but continue to lose money ($4.3 billion for the second half of 2009 alone) was able to legitimately pay off a $6.7 billion loan?

Whitacre thinks the American people are too stupid to know any better. He figures he can say it on TV and the fools watching his commercials will say 'Wow! G.M.'s doing great!'

Unfortunately for G.M. (and Obama by proxy), the Internet uncovers lies such as these...See, G.M. simply paid this loan with what's more or less another taxpayer funded loan.

"I am concerned...that this announcement is not what it seems. In fact, it appears to be nothing more than an elaborate TARP money shuffle...The public would know nothing about the TARP escrow money being the source of the supposed repayment from simply watching G.M.'s TV commercials or reading the Treasury's press release." - Senator Charles Grassley (R - Iowa)

Next time you see Whitacre strutting in his self-congratulatory commercial keep in mind he's lying to you. And he's doing it on your dime...Make that billions of your dimes.**

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