Thursday, November 18, 2010

GM Paid Their Debt In Full, Only Owes $26 Billion Now

The $26 billion assumes that the shares sell for what the Gov expects, of course. Anyone want to buy stock in a corporation which legally belongs to the bond holders and not the Gov that stole it?

GM Commercial in which GM announces they repaid their debts in full, five years ahead of schedule.

Nick Gillespie explains their math.

Remember when investors got screwed in the bailout? How bondholders were by law, supposed to be first to get repaid, and they ended up holding the bag? How the bankers got most of the money and the common stock holders got hosed?

Good news then! You can buy back in! So go to the Fed, take out a big zero interest loan and use it to buy GM stock! When it opens to the markets, you may be able to turn it around for instant profit as the sheeple buy in!

Investors display voracious appetite for GM shares

Oh, and the taxpayer still owns 40% of GM...


At 10:00 AM, Blogger Suzan said...

You mean they are still lying to us?




Love ya,


At 11:10 AM, Anonymous comrade edgar said...

can i get a 0% interest loan from GMAC and use it to buy GM.N?? If it goes up I will pay it back of course but in the unlikely event that it goes down I will stiff GMAC for the loss.

perv applies for tsa job:

At 11:13 AM, Blogger Weaseldog said...

Sure you can Comrade, just see GMAC financing for a low interest second mortgage on your home...

At 5:09 AM, Anonymous edgar said...

[The pervs at the TSA are at it again]

At 1:51 PM, Blogger Bukko Canukko said...

Do you watch Max Keiser, Weas? In his Keiser Report of Nov. 20, he goes off against news commenters, including Rachel Maddow, who blindly repeat the talking point that "GM paid the government back." "Learn how to read a freaking balance sheet!" was how Max exploded.

I love watching Max, for the entertainment of his indignation as well as to get an education. It's like Donald Duck turned into a human and was expounding on economics. I don't know what Edgar sounds like, but I imagine him to be a lot like Keiser.

Hey, it's odd to see Blogger IDs I know from another context on a completely different comment section. Hey Suzan! I'd hit your site sometimes, but it takes for-freaking-ever to load and sometimes it freezes my Windows computer so badly that I have to log off. I think it's your Kindle ad or something. I had the same problem with the late, lamented Jon Swift's site. I hope you found work. Your ex blogging partner JP is still down on his luck, too.

At 2:12 PM, Blogger Dave Dubya said...

Ah, the glories of socialism...or is it corporatism? Now I'm confused. I guess that makes me a Good American.


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