Posted By LambChop
From Judicial Watch:
We have repeatedly heard how Obama “saved the auto industry” despite evidence to the contrary. The demise of Detroit symbolically alludes to the suspension of disbelief required to believe the administration that wholeheartedly embraced liberal fiscal policies that have failed so miserably.
TARP (Troubled Asset Relief Program) was sold as a way to stabilize the economy during the financial crisis of 2008. It turned out to be a way for the less-than-prescient Obama administration to reward campaign donors, prop up cronies and pick winners and losers (losers in this case) and use a carrot and stick mentality to control business.
This week the Special Inspector General for TARP quietly released their report proving that the United States Treasury has recorded a $9.7 billion loss on its $49.5 billion bailout of General Motors.
GM and Obama have claimed repeatedly in speeches and advertisement that GM had paid back the loans in full with interest 5 years ahead of schedule.
Judicial Watch also uncovered in its investigation that $1.6 billion was written off by the government that was invested in GM since the beginning of 2013.
My advice: Don't EVER buy another GM car again.
Note this GM ad which is nothing more than a pack of lies: