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How corrupt is the Obama appointed head of Government Motors?
"Issa, ranking member on the House Committee on Oversight and Government Reform, and Jordan, ranking member on the Domestic Policy Subcommittee, sent Whitacre a blistering letter Thursday accusing the automaker of running false advertisements that constitute a lie to the American people.
Issa and Jordan say the ad is misleading because it suggests GM repaid its taxpayer-funded loan with the companys own earnings. In reality, GM used separate taxpayer money from an escrow account worth $17.4 billion set up by the Treasury Department upon taking a 61 percent majority stake in the company to repay the $4.7 billion balance of the original $7.1 billion loan.
We are concerned that GM, under your leadership, has come dangerously close to committing fraud, and that you might have colluded with the United States Treasury to deceive the American public, Issa and Jordan wrote. Your false statements may expose GM to millions of dollars in damages, further reducing the value of the taxpayer-owned company. The American people, as the majority shareholders of GM, have a right to know the truth behind the cost of the GM bailout and GMs genuine financial condition.”
If Ford lied about the payment of a bill, dozens of government agencies would be at their door first thing in the morning--the SEC, FEC, all of the consumer protection agencies and more. worse, Obama and his agents used YOUR tax dollars to pay off a "loan" and then used your tax dollars to run ads that are blatant lies.
This is why I would not trust anything built by GM--it is built on a stack of lies and the government has a conflict of interest.
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"Issa, ranking member on the House Committee on Oversight and Government Reform, and Jordan, ranking member on the Domestic Policy Subcommittee, sent Whitacre a blistering letter Thursday accusing the automaker of running false advertisements that constitute a lie to the American people.
Issa and Jordan say the ad is misleading because it suggests GM repaid its taxpayer-funded loan with the companys own earnings. In reality, GM used separate taxpayer money from an escrow account worth $17.4 billion set up by the Treasury Department upon taking a 61 percent majority stake in the company to repay the $4.7 billion balance of the original $7.1 billion loan.
We are concerned that GM, under your leadership, has come dangerously close to committing fraud, and that you might have colluded with the United States Treasury to deceive the American public, Issa and Jordan wrote. Your false statements may expose GM to millions of dollars in damages, further reducing the value of the taxpayer-owned company. The American people, as the majority shareholders of GM, have a right to know the truth behind the cost of the GM bailout and GMs genuine financial condition.”
If Ford lied about the payment of a bill, dozens of government agencies would be at their door first thing in the morning--the SEC, FEC, all of the consumer protection agencies and more. worse, Obama and his agents used YOUR tax dollars to pay off a "loan" and then used your tax dollars to run ads that are blatant lies.
This is why I would not trust anything built by GM--it is built on a stack of lies and the government has a conflict of interest.
More...