GM pays back US & Canadian loans way early

[Sax1031]

Originally Posted by fielderLS3

I've always thought TARP money was a loan. If the TARP money wasn't a loan, what was it? A gift?

I could be wrong but I think the account with the tarp money in it that GM used to pay back the government loan didn't have any conditions on it to be paid back.

If it did the media will probably jump all over this as it would make the ads being run a total lie.

[Cmicasa the Great XvX]

Originally Posted by Sax1031

Because they ran their selves into the ground and had to beg for money to stay a business they should not have to pay anything back.

Are you serious?

100% Serious. While so many of U were out buying Toyotas that were sent here using currency manipulation tactics that made the playing ground uneven and unfair... GM was keeping millions of people employed. AND PLEASE SAY THAT TOYOTA was building superior cars over the last 15 years.. because I can show U recalls and defects that go back well into the 90s.

I laugh my ass off every time I hear some bleeding heart moron speak about how the Gov't... only now... is spending "our money." Like the money wasn't being spent from 2001 to 2008...Like it REALLY IS... OUR MONEY.

I mean seriously.. did this many people bitch and complain when $12 Billion a MONTH of "Our money"... was being spent on a war in Iraq that supposedly won back in 2003??? HELLLLL NAW!!!

[Cmicasa the Great XvX]

Originally Posted by Sax1031

I could be wrong but I think the account with the tarp money in it that GM used to pay back the government loan didn't have any conditions on it to be paid back.

If it did the media will probably jump all over this as it would make the ads being run a total lie.

They gave back what they didn't need. I call that PAY BACK...


I gotta kno.. What FOREIGN CAR plant is in your part of SOUTH CAROLINA???

[Sax1031]

Originally Posted by Cmicasa the Great XvX

They gave back what they didn't need. I call that PAY BACK...


I gotta kno.. What FOREIGN CAR plant is in your part of SOUTH CAROLINA???

Only one I can think of off the top of my head is a BMW plant. What does that have to do with anything though?

Pay back is making sure all the money you were given is returned. And not returned with different money from the same person that gave you money to begin with.

[Sax1031]

Originally Posted by Cmicasa the Great XvX

100% Serious. While so many of U were out buying Toyotas that were sent here using currency manipulation tactics that made the playing ground uneven and unfair... GM was keeping millions of people employed. AND PLEASE SAY THAT TOYOTA was building superior cars over the last 15 years.. because I can show U recalls and defects that go back well into the 90s.

I laugh my ass off every time I hear some bleeding heart moron speak about how the Gov't... only now... is spending "our money." Like the money wasn't being spent from 2001 to 2008...Like it REALLY IS... OUR MONEY.

I mean seriously.. did this many people bitch and complain when $12 Billion a MONTH of "Our money"... was being spent on a war in Iraq that supposedly won back in 2003??? HELLLLL NAW!!!

I have never owned a Toyota. Care to make any other baseless ASSumptions?

And I think you have me confused with a republican. Again another baseless ASSumption.

[meanmike]

Originally Posted by Cmicasa the Great XvX

Personally I don't think GM should have had to pay back one red cent...
Eff it...

During the last 100 Years GM has employed almost as many people as the Federal Gov't... on many occasions kept this country from being in several DEPRESSIONS... instead of Recessions.

Bottom line is that the only thing to argue here is about PUBLIC RELATIONS... They should have said:

"WE GAVE BACK $6.7 Billion because quite frankly... we don't need it anymore..."

Of course that then would have then opened a whole new bunch of questions pertaining to the lying about needing it in the first place.


Hell... GM U should have just went Chapt &.. and thrown this sorry ungrateful "Continent" in a Depression like they have never seen.

If that's the way you feel about it would you object to them giving Ford the same money so that everything is equal? Oh and Chrysler should be off the hook as well.

[fielderLS3]

Originally Posted by Sax1031

I could be wrong but I think the account with the tarp money in it that GM used to pay back the government loan didn't have any conditions on it to be paid back.

If it did the media will probably jump all over this as it would make the ads being run a total lie.

I guess I don't know specifically what GM is required to do with TARP funds. The banks had to pay it back though, so I'm assuming GM will too. I'm thinking that's why the FTC is looking into it.

Originally Posted by Cmicasa the Great XvX

AND PLEASE SAY THAT TOYOTA was building superior cars over the last 15 years.. because I can show U recalls and defects that go back well into the 90s.

Toyota, quality problems. No, Toyota's got no trouble with quality, Toyota's got no quality at all.
Sure, they've had recalls, the sticking gas pedals, issues with structural integrity during crashes, rusting problems to the point that stuff is literally falling off the cars, stability control problems, camshaft problems, transmission problems, oil sludging problems with several engines, electric power steering, and brake issues, but isn't showing that they are a company that cares through their commitment to hybrids more important?

Seriously, though, that's a good point. No American manufacturer would have gotten away with sweeping so much under the rug for so long.

[Cmicasa the Great XvX]

Originally Posted by Sax1031

Only one I can think of off the top of my head is a BMW plant. What does that have to do with anything though?

Pay back is making sure all the money you were given is returned. And not returned with different money from the same person that gave you money to begin with.

WRONG... WROOOONG. The total amount that GM owed was including TARP funding and Government Equity. The Equity is essentially PAID... thru the Equity itself. The additional CASH funding from TARP was in Escrow. The money in Escrow was GIVEN back. The amount is now $0.

Let it go.. the only reason why people are trying to argue about this is because they either:

A) Own a Foreign Car and are Sell Out anyway (or are sad pathetic Ford Fans)
B) Hate Unions
C) Are a Republican RIGHT-(WHINER)
D) Hate President Obama (Mostly because of his color)
E) Probably have a Foreign Plant close to your Home and depend on them directly or indirectly for your livelihood (Hence my question)
F) Don' HAVE A EFFIN Clue

[Cmicasa the Great XvX]

Originally Posted by Sax1031

I have never owned a Toyota. Care to make any other baseless ASSumptions?

And I think you have me confused with a republican. Again another baseless ASSumption.

LOL at the attempts at WIT... Call me an ASS... I'm cool wit it.

Whatever the case U have an agenda.. because no matter what your attempt at making a point is... GM paid the money BACK... Their account is less what they gave back.

U and Fox News are basically saying that GM should have wrote a check from their TARP Escrow Account to their GM Accounts Payable one.. and the wrote a second check from that account to make it look more "legit" to feeble minds.

[a_Username]

Originally Posted by fielderLS3

Yes, but the government was repaid $6.7B with $6.7B of the government's money. Imagine if you had $2000 in credit card debt. If you took out a $2000 cash advance from that same credit card to pay off the initial balance, you still owe $2000. You just owe it for something else on paper. GM basically took out a loan to pay the loan. They old loan is paid off, but it wasn't paid down, it was just refinanced into a new, different loan.

On a side note, isn't it amazing how there can be so many different opinions on what is acceptable and what works in accounting. When did accounting stop being a means to accurately keep track to the finances, and turn into a shady, purposely complex, and obscure gimmick game? If I tried to keep track of my check book the same way GM under the government did, I'd be put in jail.

If you're going to ignore my responses to the same analogies then I'm not going to bother trying to prove you wrong, because I've already proved you wrong.

In other words,

[fielderLS3]

Originally Posted by Cmicasa the Great XvX

WRONG... WROOOONG. The total amount that GM owed was including TARP funding and Government Equity. The Equity is essentially PAID... thru the Equity itself. The additional CASH funding from TARP was in Escrow. The money in Escrow was GIVEN back. The amount is now $0.

Let it go.. the only reason why people are trying to argue about this is because they either:

A) Own a Foreign Car and are Sell Out anyway (or are sad pathetic Ford Fans)
B) Hate Unions
C) Are a Republican RIGHT-(WHINER)
D) Hate President Obama (Mostly because of his color)
E) Probably have a Foreign Plant close to your Home and depend on them directly or indirectly for your livelihood (Hence my question)
F) Don' HAVE A EFFIN Clue

Ok, now it's starting to get out of line. That crosses the line from reasoned argument backed up by facts to vitriol backed by hyperbole.

I've never owned a foreign car, am not a member of any party, have no foreign car plants anywhere in may state, and don't hate anyone or anything (though I may disagree with persons or groups on certain issues). And I do in fact have a clue.

[Cmicasa the Great XvX]

Originally Posted by meanmike

If that's the way you feel about it would you object to them giving Ford the same money so that everything is equal? Oh and Chrysler should be off the hook as well.

Absolutely. It's about time America looked out for their industry the way the Foreign companies' countries do them.

None of this would have even been debated it Toyota asked Japan for money... OH.. WAIT.. THEY DID.. and GOT IT.

OH... and FORD already owes the "Taxpayer" like $7 Billion. It was received in Sept of 2009... but disguised as funding for Efficient Drive-lines. OF COURSE that's crazy... meaning calling it "disguised." Because it's no way that even tho Ford doesn't have the RIGHT-WHINER Watch Dogs breathing down their backs... that they would have used that cash for anything but that.

[Cmicasa the Great XvX]

Originally Posted by fielderLS3

Toyota, quality problems. No, Toyota's got no trouble with quality, Toyota's got no quality at all.
Sure, they've had recalls, the sticking gas pedals, issues with structural integrity during crashes, rusting problems to the point that stuff is literally falling off the cars, stability control problems, camshaft problems, transmission problems, oil sludging problems with several engines, electric power steering, and brake issues, but isn't showing that they are a company that cares through their commitment to hybrids more important?

Seriously, though, that's a good point. No American manufacturer would have gotten away with sweeping so much under the rug for so long.

NOT ONE. Someone at another forum had the nerve to say that the Democrats were being HARD on Toyota...

[Sax1031]

Originally Posted by Cmicasa the Great XvX

WRONG... WROOOONG. The total amount that GM owed was including TARP funding and Government Equity. The Equity is essentially PAID... thru the Equity itself. The additional CASH funding from TARP was in Escrow. The money in Escrow was GIVEN back. The amount is now $0.

Let it go.. the only reason why U are trying to argue about this is because they either:

A) Own a Foreign Car and are Sell Out anyway (or are sad pathetic Ford Fans)
B) Hate Unions
C) Are a Republican RIGHT-(WHINER)
D) Hate President Obama (Mostly because of his color)
E) Probably have a Foreign Plant close to your Home and depend on them directly or indirectly for your livelyhood (Hence my question)
F) Don' HAVE A EFFIN Clue

I figured you had some more ASSumptions.

You clearly show you are blindly loyal or highly ignorant on the repayment of money by gm to the government.